BTC currently bullish . Area of concern is the $47k range. If BTC finds resistance at this area then we should be anticipating further down move. Breaking the $47k range should see BTC surge to $56k range where another consolidation should occur.

Currently, the price seems to be developing a reversed head and shoulders

Going by Elliott wave analysis, after bottom, price propelled up forming a leading diagonal wave A or 1. Then, followed by a complex correction which find support around the 78% correction level. Currently, the price is at wave C or 3. Let’s keep watching what will play out..