It looks like that Bitcoin just made a higher low compared to the liquidity grab that happend on April the 18th.
Chart explained:
1. Looking at market structure we are in a correction phase, however I believe that it makes 1 more push (towards our targetbox).
2. If price can sustain this level (the 0.618 fib compared to LIQ grab) it makes a bottom on our paralell channel.
3. Target box eplained: Lower bottom of the targetbox is the 0.618 fib from the swing low to the swing high.
Top of the target box is the CME gap at 53700 ish.
This is not financial advice, please do your own research.
Happy trading
Chart explained:
1. Looking at market structure we are in a correction phase, however I believe that it makes 1 more push (towards our targetbox).
2. If price can sustain this level (the 0.618 fib compared to LIQ grab) it makes a bottom on our paralell channel.
3. Target box eplained: Lower bottom of the targetbox is the 0.618 fib from the swing low to the swing high.
Top of the target box is the CME gap at 53700 ish.
This is not financial advice, please do your own research.
Happy trading