BTC price analysis, 10.24.2021

BTC-USDT, daily chart

Price action: BTC hit an all time high: there was a little retracement on th 59k, then price was rejected on 67500. Now BTC retraced on the first psychological resistance on 60k approximately, but it seems to have no bounce up. Price is very distant from the EMAs, and this bullish move could have a bigger but natural retracement, considering that it has run high in a little time. The MACD also seems to start to give a bearish crossing.

RSI indicator: the RSI line retraced on the middle line, breaking the bullish trendline. Now it is probable that the price could bounce up for a short time, with the RSI making a lower high (the same situation between end of July and start of September.

Volume analysis: volumes are creating a little bearish divergence from the price, but they seems to be quite balanced between bulls and bears.

BTC-USDT, weekly chart

Last candle is similar to a bearish inverted hammer, that is a bearish signal. But on the macro, the BTC is very bullish. It is probable that price could retrace on the first major support at 53k, but it remains bullish also if it falls on the 45k (as long as it makes higher lows).

Recap: i'm only taking long positions: personally, i have buyed a little amount of BTC with a limit order on the 60k, but I'm ready to hedge as minimum until the 52k with other orders.