Bitcoin Sideways = Bullish Or Bearish?

Bitcoin just hit a new All-Time High recently and after a new high corrections and retraces can show up but there is a caveat to this observation, this tends to happen suddenly and fast... The longer it takes for a correction to happen the less likely that it becomes.

So far the Bitcoin volatility has been low and together with the Altcoins market, Bitcoin remains strong.

A 15.8% retrace did take place from 20 October to 28.
Support was found exactly at the 0.382 Fib. retracement level for the last bullish leg.

If Bitcoin is really, really strong, from this point it can resume going up.
But if there is just a bit of weakness, a further drop can happen and test 0.5 Fib. retracement or even 0.618 at $50K which are both mapped on the chart.

What will it... Bullish or bearish?

Leave a comment with your chart/analysis or guess.

Thank you for reading.

Namaste.