Bitcoin's correction could end soon. However, for now, bitcoin is very bearish. Not only was the bitcoin bearishly rejected at the golden ratio at the 10,000 $ mark, but the emas in the 4h chart also formed a death cross. Bitcoin is about to reach as low as the 8,600 $ support, and if this level is also bearishly broken, bitcoin could fall down to the 0,382 fib levels between 7,500 $ - 7,800 $. Once those levels are bearishly broken as well, bitcoin could plunge as low as 6,200 $, where the next significant golden ratio is located at.
At one of those levels bitcoin will heavily bounce off. Then, bitcoin is set to re-test the 10,000 $ mark again. Once this significant resistance is broken, bitcoin may surge as high as 13,800 $, to the next significant golden ratio, which is exactly at the last significant high.
At one of those levels bitcoin will heavily bounce off. Then, bitcoin is set to re-test the 10,000 $ mark again. Once this significant resistance is broken, bitcoin may surge as high as 13,800 $, to the next significant golden ratio, which is exactly at the last significant high.