Potential $BTC dip
Traditionally, Bitcoin has revisited the key support level around 61.8% Fibonacci retracement before launching another leg up. This time might be similar.
We recently saw a double top pattern confirm (daily close below $56,434) which suggests a trend reversal. If the historical pattern holds true, this could be a sign of a correction before another uptrend.
If Bitcoin follows the script of past cycles, it might take a dive down to the $48,504 zone (based on the 61.8% Fib level) before bouncing back up.
We recently saw a double top pattern confirm (daily close below $56,434) which suggests a trend reversal. If the historical pattern holds true, this could be a sign of a correction before another uptrend.
If Bitcoin follows the script of past cycles, it might take a dive down to the $48,504 zone (based on the 61.8% Fib level) before bouncing back up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.