right now we are witnessing an upward correction of the downward move. The structure is the same almost every time: ABC correction or impulse - correction - impulse structure. You got it right - I expect the price to dump at least back below $50k.
In order to continue the pump, #BTC should break above both green and blue resistance levels. While the price is below, next leg down is expected.
If the red level is broken, we can say goodbye to the uptrend because most likely the price will dump back to low $30ks.
In order to continue the pump, #BTC should break above both green and blue resistance levels. While the price is below, next leg down is expected.
If the red level is broken, we can say goodbye to the uptrend because most likely the price will dump back to low $30ks.