BTC Daily: watch 58k and 54k
2024-10-10

This is the daily chart of Bitcoin (BTC). 

It shows Bollinger Bands (yellow), parallel channels, MACD bands, Ichimoku clouds, etc. The daily and weekly clouds converge, and a C-Fork intersects around the blue box area, making it difficult for sellers to break through in one go. 

Although we may see some rebound from today's dump in the short term, the 58k level is one of the key levels it heads to, as I stated in my previous analysis. If BTC breaks this support and falls below 54k, it will likely break through the weekly cloud and eventually test the 49k low.