Let's take a look at the Bitcoin price action history since 2017. We can notice that the price formed the important Fibonacci levels with the swing high of 2017 ATH and swing low from the beginning of the 2019.
When the price correction occur in January 2021 it found strong support exactly at 1.68 Fib level ($30000). This was the sign of the current bull rally continuation. Now the price broke through the 2.61 Fib level ($46000). The next target is the 3.61 Fib level ($64500). In case of the new price correction if the price find support at the $46000 the bull run continue with high probability. As a result the possible zone of the further price action is a green box.
This is global analysis. We will do more precise analysis next time.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.