I would suggest Bitcoin now needs to prove itself this week by breaking the downtrend started on December 17th. Should it fail to cross that downtrend, further retracement is to be expected.
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We're almost there, we now need to break through the strong downtrend. Notice the divergence forming as we get closer to the trend line.
I think we'll make it. I'm not 100% convinced of course or even 90%, but probably 75%. It's hard to be more confident than that after the brutal winter we've had. ;)