Bitcoin Retest Support

Positive trading dominated the movements of Bitcoin within the bullish corrective bias targeted during the previous analysis at 52,050, recording its highest level at 54,301.

On the technical side, the current movements are witnessing a bearish bias, as a result of the negative features that started to appear on the stochastic indicator. Therefore, we may witness a bearish bias in the coming hours, targeting a re-test of 52,120.

Trading again above 54,350 leads Bitcoin to an upward path, its initial target is 55,430.

Note: the level of risk is high and all scenarios are on the table.

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