The target is obtained by adding the distance between the first swing high and low to the breakout point at $44,418. BTC broke out of its ascending triangle setup on March 27 but stopped moving higher after peaking at $48,238. This lack of momentum mixed with the inefficiency to the bottom, caused BTC to slide lower. Either way, the upside for BTC seems to be capped at around $53,000 and any move beyond this level seems unlikely