Technical analysis:
BTC has been trading upside today and there is the breakout of the contraction in the background, which is good sign for further upside movement.
Trading recommendation:
Due to oversold condition and potential for double bottom, I see potential for the upside movement.
Watch for buying opportunities on the dips with the upside objectives at $60,370 and $61,400.
Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside movement.
Support level is set at $55,500
