BTC as predicted (x.com/joedm/sta...863323543142713?s=20) started it's retrace on the 14th of march.
This I believe is the dump before the halving.
Originally my thinking was that BTC would hit around 88k however by 14th price had only reached 73k. I still think the retrace will be around 20% which will take price down to 59-62k area.
See chart for confluence with fibs - 0.5 and 0.618.
Don't take this as gospel as you need to evaluate how price reacts at each level.
Coming back to 58-59k would also be a test of the channel that BTC broke out of.
This I believe is the dump before the halving.
Originally my thinking was that BTC would hit around 88k however by 14th price had only reached 73k. I still think the retrace will be around 20% which will take price down to 59-62k area.
See chart for confluence with fibs - 0.5 and 0.618.
Don't take this as gospel as you need to evaluate how price reacts at each level.
Coming back to 58-59k would also be a test of the channel that BTC broke out of.