Bitcoin is currently approaching a very important level where we can either have confirmation of bulls or a rejection to complete the expanded ABC flat correction .

On the higher timeframe we still appear to be in wave 4 now, which is an ABC correction. See below:

Only question is whether we already completed the ABC correction or we are still yet to complete it.

Key price to look at is the 46K where we have a structure level. If we reject it, the best place to look for buys would be the 28k-30k level. If we break the structure level, we could possibly see new highs.

Will update once there’s clearer price action to tell us what’s next!

Goodluck and as always, trade safe!