Bitcoin Needs Confirmation

The support levels published in the previous analysis at 55,120 managed to limit the bearish bias, which forced Bitcoin to rebound again.

Today we are biased towards the positivity, relying on the positive motive of the 50-day moving average, in addition to the price temporarily stabilizing above 52,230.

Confirming the breach of 55,250 is an important and essential condition for the continuation of the rise towards 55,760, and the gains may extend to 56,510. Breaking 52,230 leads the price to a downside path targeting 52,490. Note: The risks are high and all scenarios are available.

S1: 52120	R1: 54350
S2: 50985	R2: 55430
S3: 49890	R3: 56570