Bitcoin is showing nothing but bullish momentum. Even the break of ascending trendline was corrective, indicating that Bitcoin is getting ready for a major move higher.
We are currently in our second ABC correction of the 3 wave correction. Watch for price to react to one of the fibonacci levels and make its way down once more to the channel support region (Will update again once we're ready for buys).
In the meantime we can look for shorts by looking for rejections at the fibonacci levels and then holding it down to 54-56K.
If price breaks below 52K, the bullish outlook will be invalidated.
We are currently in our second ABC correction of the 3 wave correction. Watch for price to react to one of the fibonacci levels and make its way down once more to the channel support region (Will update again once we're ready for buys).
In the meantime we can look for shorts by looking for rejections at the fibonacci levels and then holding it down to 54-56K.
If price breaks below 52K, the bullish outlook will be invalidated.
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