Remember this entry: BitCoin in the wedge. No big turnover or preparation for a stronger move? The scenario is slowly working out. As the king of cryptocurrencies, BTC is entering a phase of deeper correction. We considered two options that resulted from the exit from the triangle. One of the options assumed this scenario, with the levels set at the boundaries of the lines that I mark each time on the pictures. Only the raise was a bit too small.
Bearing in mind that the whales transferred some of their BTC to the stock exchanges, we can expect a correction to around USD 28,000. After all, no one will sell currency to buy it back 10% cheaper. It’s not physical currencies to fight for every percentage. At the level of $ 28,000, watch the price behavior. If the level is breached with great force, there may be an in-depth correction further (I personally doubt it was done all at once). The next level is $ 24,000 which should be watched closely as the price in this area stopped and this created a support for any downturns. In addition, this level is supported by Fibo 50, which can be an additional argument for many as a value worthy of purchasing previously sold cryptocurrency.