Bitcoin experiences rejection after hitting long target key noted in idea below. We see strong wick rejection has trapped some buyers as Bitcoin descends to correction to possible $46K and maybe below. Buyers beware. For demonstration and educational purposes. Please refer to the linked long idea below, where price has hit both targets.
Comment:
Price is resting at key zone in the market. Although we are experiencing some bullish movement, keep in mind that a correction is not out of the question. Watch price action between $57K and $58K for signs of rejection (further selling) possible.
