Traditionally, Bitcoin has revisited the key support level around 61.8% Fibonacci retracement before launching another leg up. This time might be similar.
We recently saw a double top pattern confirm (daily close below $56,434) which suggests a trend reversal. If the historical pattern holds true, this could be a sign of a correction before another uptrend.
If Bitcoin follows the script of past cycles, it might take a dive down to the $48,504 zone (based on the 61.8% Fib level) before bouncing back up.
We recently saw a double top pattern confirm (daily close below $56,434) which suggests a trend reversal. If the historical pattern holds true, this could be a sign of a correction before another uptrend.
If Bitcoin follows the script of past cycles, it might take a dive down to the $48,504 zone (based on the 61.8% Fib level) before bouncing back up.
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