Yet Another Fib Retracement

٢٣ أبريل ٢٠٢١

BTCUSD
Waiting to see if 2.618 provides support for the price going forward. It's troubling to see that we broke through and made a strong move down toward the 1.618 line. If my Fib Retracement is applied correctly, this break-through may signal a further correction to 42K for Bitcoin. But today we observed the price returning to 2.618 and perhaps this line will form a barrier to further correction. I believe that bullish movement in the next few days would confirm a longer trend toward higher highs. But if we dip below this threshold at 51k, it certainly seems like the correction could continue to play out through the end of April.