In the heat of the moment, bitcoin can often seem confusing but when you take a step back (go to a bigger timeframe) bitcoin seems to be making clear moves, which can help us understand what might be next.
When price breaks out of a correction, it often retraces back to the point of breakout for a retest before resuming it's trend. It just so happens that the breakout happened at the 50K mark, which was a historic moment for this cryptocurrency. It's very likely that we'll retest the 50K mark before resuming higher.
On the chart you can see that a trendline could be drawn and the retest area lines up with the trendline. Coincidence? Maybe. Should it be ignored? Definitely not. Watch closely!
When price breaks out of a correction, it often retraces back to the point of breakout for a retest before resuming it's trend. It just so happens that the breakout happened at the 50K mark, which was a historic moment for this cryptocurrency. It's very likely that we'll retest the 50K mark before resuming higher.
On the chart you can see that a trendline could be drawn and the retest area lines up with the trendline. Coincidence? Maybe. Should it be ignored? Definitely not. Watch closely!
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Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Crypto VIP: t.me/CryptoWickBot
