Today’s rally is nothing but a violent reaction after a 10-days- 19 % correction from the all-time high
20-day moving average is playing with 50-day MA to form a “Death Cross”
Crossover not confirmed yet but not far away.
Moving average envelopes showed a break through on April 22.
BTC still trades below MA 50 lower band.
YTD uptrend is invalidated since then.
On April 16 started a 4-day-down 1-day-up pattern.
Resistance is @ 54,239 (YTD uptrend)
MA 20 and 50 are @ 57,000. Until now, the correction is still on.