50k is the biggest resistance on the bitcoin chart. If price breaks above 50k for a short time, then comes back below it, prepare for a larger retracement. Not only is 50k a major psychological level that will generate massive liquidity, but it also has a number of technical confluences.
Fibonacci:
-0.66 retracement from ATH - 15k low
-1.618 fib extension
-Log 1-1 fib extension
-Log 0.786 from ATH - 25k low.
Other TA:
-Untapped weekly open/close
-psychological 50k level
-Elliot Wave counts
Fibonacci:
-0.66 retracement from ATH - 15k low
-1.618 fib extension
-Log 1-1 fib extension
-Log 0.786 from ATH - 25k low.
Other TA:
-Untapped weekly open/close
-psychological 50k level
-Elliot Wave counts