There are 2 bullish scenarios for Bitcoin. If stay above 47k and goes up within coming few days or consolidate within range and touches the trend line and respect it until reaching the triangle end by end of the month and then breaks out the 49-51k resistance
The price of BTC has been range-bound for over a month. This has resulted in increased liquidity on both the buying and selling sides. Any sudden movement towards either side of the range will lead to more traders being liquidated. In my personal opinion, the price will break below the range to liquidate shorts and then rise. Volatility in the crypto market is...
Anytime Bollinger bands in daily timeframe narrowed to this extent it follows the big moves; Up or down. Here, the base Bollinger band or EMA20 is consistently playing as sporting therefore possible up move is expected in consideration of ETF approval.
With quick BTC price dropping, It is bak to month long range. 41K must hold. Don't be panic.
If a daily BTC candle close back above MA20 will be a bullish signal. The D MA20 is sustaining the BTC since long time.