If we lose 40K for BTC weekly candle close here's what I see....
40K psychological (which we're currently teasing right now as support) seems pretty big over the short / medium term. We've made some good ground and the long-term support line which starts in March of 2020 has not broken yet, and seems to be providing strong support on the way up.
However, if 40K doesn't hold imminently - I think low 30K level could be in the works. Seems to line up with fib retracement levels as well (.786 level) from this current runup.
But that's OK - I think a bounce again off the long term support should do it, and the nice part is that there seems to be an ascending triangle in play. So - 50K is possible, but it's going to take a bit more time....
However, if 40K doesn't hold imminently - I think low 30K level could be in the works. Seems to line up with fib retracement levels as well (.786 level) from this current runup.
But that's OK - I think a bounce again off the long term support should do it, and the nice part is that there seems to be an ascending triangle in play. So - 50K is possible, but it's going to take a bit more time....