If we look at the trend over the past few months we can see the following things:
1. The price is moving in an ascending channel.
2. When the price touches the top of the channel it will come back down to the bottom.
3. When the price forms a daily lower high after a large bull break without touching the the top of the trendline, (as highlighted) then it will pull back to the middle of the channel - approximately a 50% correction, give or take.
Also, take a look at the Daily RSI and MACD:
RSI oversold on all pullbacks
MACD turns bearish on all pullbacks.
Bottom line; this is crypto and anything can happen, anytime.
1. The price is moving in an ascending channel.
2. When the price touches the top of the channel it will come back down to the bottom.
3. When the price forms a daily lower high after a large bull break without touching the the top of the trendline, (as highlighted) then it will pull back to the middle of the channel - approximately a 50% correction, give or take.
Also, take a look at the Daily RSI and MACD:
RSI oversold on all pullbacks
MACD turns bearish on all pullbacks.
Bottom line; this is crypto and anything can happen, anytime.