📌BTC could quickly retest the $10,000 price level and, if this mental support level were broken, continue declining to $8,300, $7,000 or even $6,200. Time will tell. The 0.618 Fibonacci retracement level of the last rally is waiting at $7,000.
📌On the other hand, if the BTC price breached the $13,880 resistance level, then it would very likely run to $16,000 or even retest the ATH of $19,700. This scenario is less likely, based on the technical signs which lay before us.
📌These are exciting times for crypto and Bitcoin in particular, but we must remember that assets move in waves, as no asset moves straight up or down forever. A correction is a healthy part of any asset’s life span, especially after a 250% rally.We will wait for the price to complete the correction and show signs of a turnaround before suggesting a trade in it.
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