BTC Retracement Then 50k-56k
Great day everyone!
Since my previous idea was invalidated where it already broke out of the ascending triangle (thanks Elon), it looks like Bitcoin has formed a channel and reached the 2.618 of the Fib Retracement from the high 40.9k and low 37.2k.
If we see a minor retracement going back to the previous ATH (40k-41k) and the lower section of the channel, we may see a bounce from there to confirm that we are going to the upside.
Another scenario is we broke the channel to the upside going to the 50k already.
Thoughts?
Since my previous idea was invalidated where it already broke out of the ascending triangle (thanks Elon), it looks like Bitcoin has formed a channel and reached the 2.618 of the Fib Retracement from the high 40.9k and low 37.2k.
If we see a minor retracement going back to the previous ATH (40k-41k) and the lower section of the channel, we may see a bounce from there to confirm that we are going to the upside.
Another scenario is we broke the channel to the upside going to the 50k already.
Thoughts?
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