That second lower high Bitcoin made has alarm bells ringing in my head and made me feel really . This leads me to believe we are in a wave 4 retracement. If price breaks above the LH then this TA is invalid.
Is it possible to map the course of this retrace?
I have copied a retracement (there are many) from one of Bitcoins previous dumps.
The weekly 100MA will be sweeping through and I am expecting some interaction with price in the form of a .
The weekly 50MA is also sweeping through and just so happens, as if by some bizarre coincidence to line up right on the 0.618 golden ratio retrace.
The is in place and lines up nicely.
In my head this would seem a logical course of events for price action on this retrace.