₿ Bitcoin Correction Before Continuation Of Growth ₿

₿ Bitcoin Correction Before Continuation Of Growth

₿ Nearest strong support zone: around the 0.236 level of the upward wave.

₿ Nearest strong resistance zone: around the 0.618 level of the downward wave.

₿ Technical environment:

- Moving averages: Uptrend

- MACD: Uptrend

- RSI: Uptrend

₿ Price action: looking at Bitcoin's increase in recent days I am impressed, it has beautifully kicked off the levels I have been writing about for the past weeks. After such strong increases amounting to a whole 37% from the bottom, a correction is due, as I don't see any chance of finding new buyers with such a still recently negative sentiment. Bitcoin needs to make a small downward correction if we were to hope for continued increases.

₿ The scenario I'm playing out is the execution of a downward correction followed by a continuation of the increases. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

₿ Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀