Bitcoin: More gains after current setback, support is at 62k-63k
|BTCUSD remains in higher degree uptrend as prices broke to new ATH back in March from where we can see a three wave retracement on a daily chart. It appears that this can be higher degree wave IV, that is finished at 53 area. In fact, we can see some nice bounce here on 4h time frame, with price accelerating after breaking above the black resistance line suggesting that wave (C) has ended and a new bullish trend is in the cards. Break above 63859 and five waves up from the low, is now a new indication for a bullish trend; same level can serve as a support in wave 2 pullback, followed by 62k.
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