Stance: “Buy on Dip”
Bitcoin went from 50k to 64k levels in just a few days which got the RSI indicator into extremely overheated levels which is now creating a sideways consolidation. This could keep price inside a small range of 58,000 to 64,000 levels.
This consolidation is going to be good for the trend and if bulls hold strength this consolidation could then shape up into a possible bullish flag which will then create another strong upside for Bitcoin while aiming for 69,000 Previous All-Time High Levels and then towards 72,000 and possibly towards 75,000 levels.
Bulls currently hold very good strength and any re-tests into 60,000 and 58,000 needs strong protective buying interests from bulls. These levels of 60,000 to 58,000 are very good support as well.
Currently over the next few days, some slow action is expected to cool-down the RSI but if bulls get back above 64,000 level, bullish continuation would then been seen all over again.
