The recent uptrend in BTC seems to fit what could be described with Elliot wave theory. If this hypothesis is correct, the BTC is due some correction.
This uptrend seems to be occurring in a channel and price is currently at the resistance of the channel. If the resistance hold, I expect BTC to make some correction to the 40K area (wave 4 or start of wave 5). Nevertheless BTC may continue to be bullish if price breaks the resistance.
This uptrend seems to be occurring in a channel and price is currently at the resistance of the channel. If the resistance hold, I expect BTC to make some correction to the 40K area (wave 4 or start of wave 5). Nevertheless BTC may continue to be bullish if price breaks the resistance.