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There are currently two close scenarios I'm watching for $BTC. On the left side, we have the 4H chart where you can see $BTC broke the important 200 EMA support, dipped below it, and after a bearish retest, it's heading down again. If this plays out, we could dip as low as 57k.

On the right side, we are currently trading near the 200 EMA support on the daily time frame. A bounce from here could reverse the trend and give us bullish momentum again. However, breaking this level on the daily will confirm the bearish scenario.

On the bright side, we haven't broken the bullish structure yet, and a reversal from here would create a higher low. I'm waiting for some time to see how the price action develops before deciding on further action.

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#bitcoin #btc