After hitting a new ATH around 73k, Bitcoin re-tested the weekly close from its April 2021 high:
It initially lost the 50 day EMA during this re-test, then the weekly candle bounced from this level, as the daily TF formed an HSi around the same area.
This led to a recovery of and bounce off of the 50 EMA upon the re-test of the HSi's neckline.
If Bitcoin can continue holding its 50 EMAf, it'll likely move back up to 73k (conservative target), and could go higher if it breaks through the red box, targeting ~75.5k.
If it fails to break 73k, we could see another test of the 50 EMA and possibly 60k.
If it does break 73k, we could see a longer term target of 82-83k after reaching 75.5k:
It initially lost the 50 day EMA during this re-test, then the weekly candle bounced from this level, as the daily TF formed an HSi around the same area.
This led to a recovery of and bounce off of the 50 EMA upon the re-test of the HSi's neckline.
If Bitcoin can continue holding its 50 EMAf, it'll likely move back up to 73k (conservative target), and could go higher if it breaks through the red box, targeting ~75.5k.
If it fails to break 73k, we could see another test of the 50 EMA and possibly 60k.
If it does break 73k, we could see a longer term target of 82-83k after reaching 75.5k:
