Two long-term bull theories, BTC is in a Running Flat correction in an uptrend, or we're seeing an Expanded Flat correction.
Running flat looks more likely so long as we hold above our previous low @ roughly 29k, even better if we remain in this channel on the 4H chart. Targets for the bottom are near where we are now
Expanded flat becomes possible if we reach lower than the previous low, and targets for a bottom for that would range anywhere between the 1.236 and 1.618 levels on the fib extension shown above, between 11.5k and 25k, with 18.5k as the middle of each.
Let's see if either of these become true.
Running flat looks more likely so long as we hold above our previous low @ roughly 29k, even better if we remain in this channel on the 4H chart. Targets for the bottom are near where we are now
Expanded flat becomes possible if we reach lower than the previous low, and targets for a bottom for that would range anywhere between the 1.236 and 1.618 levels on the fib extension shown above, between 11.5k and 25k, with 18.5k as the middle of each.
Let's see if either of these become true.
