Strong support and the possible end of the correction
It seems like after the recent bull rally bitcoin needed this correction. As you can see from the chart 47k is a very strong support line. On the other hand, 45k (the price that we saw as today's lowest price) is the midline of the Bollinger band. In addition to this, 48k seems to be a very interesting price for the buyers, as you can see from the volume profile. So, I expect the correction to end here and start to recover for 56k at the first move, and 63k at the second move. Yet, this is just technical analysis and not a piece of trading advice, so stay alert for any move below the 47k support line.
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