Based on 1W TF, There seems to be a good correlation between DJI chart (Mar'09-Mar'20) and BTC (Mar'20-today). Based on fibonacci retracement, We can see that after DJI had reached 1.6 retracement marked with a double top pattern, a correction to 1 retracement took place. Interestingly, these things are also seem in $BTC, as $BTC reached 1.6 retracement marked with a double top pattern, a correction to 0.786 retracement still taking place. Therefore, I guess if $BTC can rally up to 35k-37k resistance zone, I'll prefer to wait and see whether the next correction will make a higher low pattern or 200 weekly MA will touch the next low.
This posting is purely an idea sharing, not a financial advise
This posting is purely an idea sharing, not a financial advise