Possible correction

If BTC break the resistance at 16500 level ... it will most likely continue to 20000 level

Trade active:

Looks like the (0.236 FIB) level at about 17200, not 16500 Which make more sense.

I will update the chart.

Trade active:

Comment:

BTC accumulating in 0.382 FIB level at 15000 level
If it goes up from there, we may see 2000-22000 level

Otherwise, it will make a down move to 0.5 FIB level at around 13000 and then down to the latest strong support at 0.618 FIB at around 11400

Let's wait and see the next move

Trade active:

Bitcoin correction continues ... trying now to break 0.5 FIB level
If breaks it, Bitcoin will go to 0.618 FIB level at 11400 level which I think will be the end of correction

Trade closed: target reached:

Correction happened as expected

Analysis for now