It looks like that Bitcoin just made a higher low compared to the liquidity grab that happend on April the 18th.

Chart explained:

1. Looking at market structure we are in a correction phase, however I believe that it makes 1 more push (towards our targetbox).
2. If price can sustain this level (the 0.618 fib compared to LIQ grab) it makes a bottom on our paralell channel.
3. Target box eplained: Lower bottom of the targetbox is the 0.618 fib from the swing low to the swing high.
Top of the target box is the CME gap at 53700 ish .

This is not financial advice, please do your own research.

Happy trading