BTC is experiencing large price fluctuations related to the BTC spot etf, which has been accepted this time. However, it can be seen that the price has returned to the local downtrend line.
After unfolding the trend based fib extension grid, we can see the resistance zone from $45,297 to $44,288, and further we can see a decline to around $41,375.
Looking the other way, you can see resistance at $46,906, and then a resistance zone was formed from $48,301 to $49,022, which keeps the price from increasing further.
The RSI indicator shows a strong recovery, but there is still room for a larger decline, while the STOCH indicator approached the lower limit, which resulted in the correction slowing down.
After unfolding the trend based fib extension grid, we can see the resistance zone from $45,297 to $44,288, and further we can see a decline to around $41,375.
Looking the other way, you can see resistance at $46,906, and then a resistance zone was formed from $48,301 to $49,022, which keeps the price from increasing further.
The RSI indicator shows a strong recovery, but there is still room for a larger decline, while the STOCH indicator approached the lower limit, which resulted in the correction slowing down.