After rejection at 40k USD level, Bitcoin retraced to Fibonacci levels and now is moving sideways possibly until the end of this week to shake out retail investors and also to capitalize the next move upward.
The sideways movement might be expected between 32k and 36k levels where volume will be gradually decreased and could form a horizontal triangle.
An extended correction could happen if 30k USD support level can't be maintained by the bulls and then the bears might have a chance to short positions towards 25k USD level, giving also to the bulls a new entry opportunity.
The sideways movement might be expected between 32k and 36k levels where volume will be gradually decreased and could form a horizontal triangle.
An extended correction could happen if 30k USD support level can't be maintained by the bulls and then the bears might have a chance to short positions towards 25k USD level, giving also to the bulls a new entry opportunity.