BTCUSD – recovery accelerates and adds to signals of an end of corrective phase

Recovery from correction low ($60688) extends into third consecutive day and accelerates on Monday, adding to signals that corrective phase from new record high ($73839) might be over.

Fresh advance rose above 61.8% Fibonacci retracement of $73839/$60688 pullback and pressuring psychological $70000 barrier.

Improving daily technical studies supports the action, although 14-d momentum is still in the negative territory and requires caution.

Broken 20DMA ($67933) reverted to support and daily close above this level is needed to keep the upside in focus.

Violation of $70000 pivot to generate fresh positive signal for possible retest of $73839 peak.

Dips should be shallow and ideally contained by broken 50% retracement level ($67264).

Only return below 10DMA ($66300) would sideline bulls.

Res: 70735; 71000/ 72406; 73839
Sup: 68815; 67933; 66300; 65712