Correction Downside from 58,500$ Towards (35k$ March End Target)

11 Mac 2021

The BTC /USD pair broke below the critical support at the 50-day exponential moving average ($52,093) but found support at $50,688 and bonus back to an all-time high of 57600$

currently, price overbought condition but still bullish momentum, we could see Psychological level 60,000$.

BTC still looking strong correction downside on monthly base from 58,600k Mark price towards Supports 43,000$, 38,600k, and 32k and If small crush or panic crush 28k to 27k$ where we can see new bull start towards long term target 75k$

Market NEWS:
1-Regulator gears up for Bitcoin crackdown amid digital coin frenzy.
2-Elon Mask keep Pumping Crypto via Tweet, Like dogecoin, etc
3-Lawyers Warn Tesla Billionaire Elon Musk Over Bitcoin Boosting Tweets.
4-Janet Yellen says 'misuse' of cryptocurrencies like bitcoin is a growing problem, as regulators increase scrutiny after surging in interest.
5-Big Company Join BULL run crypto.
6-Electricity used world level 2% ( Climat issue)

Crush and Panic Sell off:
Remember: 2017 bull and crush 80% and 2020 BULL Little bit different due to institutional investor JUMP in but CRYPTO HIG Volatility market anything could possible like 2017, 50% correction not a big deal for current market price ( 50% correction from the all-time high is 20,000$

COVID-19: March 23 BTC DROP 60% just 40min

Currently Market Talk too much about Crypto, positive and negative way, Better to stay sideways and wait for buying on DIP.

Bitcoin following the same rules of STOCK, NSDQ100, DJI, SP500, CURRENTLY Stock hit all-time high and next few months expecting stock crush or bubble burst. If BUBBLE BUST then all market drive downside HARD

🛑SUPPORT/RESISTANCE
✅S1= 38000
✅S2=32000
✴️R1=57000
✴️R2=620000
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