BITCOIN: CANDLES SPEAK: 03.05.2021

Today BTC was rejected from the inflection area for the second time. Today’s daily candle is a hammer and we should expect a move downward. So far, I keep the blue count on the chart, but am leaning more and more towards the green one.

Forecast:

While below 58k-61k area, the coin is under substantial bearish pressure on the daily and weekly frames.

If BTC breaks through 61k, it could move as far as 64-68k in the next several days with a potential of 72-75k in the next few weeks. This move would make me to adopt the blue count as main operative.

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Previous Monthly/Weekly Analysis:

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