BTC/USDT analysis
1D Time Frame
Today is a correction day for BTC with the price losing almost -20% intra day so far.
The drop has been contained exactly on the 0.5 Fibonacci retracement level, just below the 1D MA50, confirming its importance bias.
If BTC manages to close the session above it, it will be a buy opportunity similar that the 1D MA50 gave from October 2020 until the April 14 2021 All Time High.
If not, then the 1W MA50 (bold red trend-line) is the next support line.
The next Fib to fill is the 0.786 at roughly $54,400. A break above that level, brings BTC to the final barrier before the ATH , the High Volatility Cluster of $53,000 - $59,700.
