0.702 Fib Retracement has proved many times to be an area of resistance in the retracement rallies and it got rejected twice (59.5k) from that level before making a new local low (46k).
As of now I expect BTC to retrace around 55k i.e where the 0.702 fib retracement lies of this move from the peak to bottom and will watch out that area for further moves.
There is also some concern regarding BTC's peak.
But I think it doesn't peaked yet as we didn't see the blow off top structure that we see in the ending of every Bitcoin bull run and many alts didn't rallied ,most didn't even surpassed their 2017/18 peaks.Also BTC didn't reached its 4.236 fib extension which lies around 72k.
LTC is also a good indicator for BTC's peak as it peaked before BTC in both bull runs it participated i.e 2013 and 2017.
It is highly unlikely for BTC to peak around 65k.
#DYOR
#This is not investment adivse
As of now I expect BTC to retrace around 55k i.e where the 0.702 fib retracement lies of this move from the peak to bottom and will watch out that area for further moves.
There is also some concern regarding BTC's peak.
But I think it doesn't peaked yet as we didn't see the blow off top structure that we see in the ending of every Bitcoin bull run and many alts didn't rallied ,most didn't even surpassed their 2017/18 peaks.Also BTC didn't reached its 4.236 fib extension which lies around 72k.
LTC is also a good indicator for BTC's peak as it peaked before BTC in both bull runs it participated i.e 2013 and 2017.
It is highly unlikely for BTC to peak around 65k.
#DYOR
#This is not investment adivse
