20% correction incoming
Due to the recent events, BTC has reached a highly extended overbought region which is too much for it to break the hardest resistances formed around the region of the ATH . In addition, fear and greed indexes have risen up to almost extreme greed, which historically has resulted in a correction. The BTC correction will probabil consist of a retrace to the neckline of the daily cup and handle pattern, specifically a retest of the 48-51k region. The retrace will retest the 21 Week EMA and the trendline formed.
Treat this idea as a swing trade which many retail investors will follow.
Treat this idea as a swing trade which many retail investors will follow.
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