BTC Correction Imminent (Fibonacci)
Updated
Over the last three cycles BTC has corrected 25-40% once reaching the 61.8% retracement from the previous cycle high to the cycle low. Past performance does not indicate future outcome but there's a good chance we see a correction at the 61.8% fib retracement once again.
Comment
We touched the 61.8 and are now retracing. First target from the retracement is 42.4k, 2nd target if it continues is 36k. We might get some chop before and during those areas.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.