Due to the behavior of Bitcoin in recent months and after being below the line of its past uptrend (yellow line), with each hit of this line, the trend has undergone a price correction. Now the price chart has hit the yellow line again and started to correct.
If the Bitcoin weekly candle closes negatively, Bitcoin is expected to move up to the $ 50,000 range, which is a 61% Fibonacci retracement.
This analysis is just one of thousands of scenarios facing Bitcoin.
If the Bitcoin weekly candle closes negatively, Bitcoin is expected to move up to the $ 50,000 range, which is a 61% Fibonacci retracement.
This analysis is just one of thousands of scenarios facing Bitcoin.