BTC in correction before a strong bullish wave
BTCUSDThis is a correction wave between parallel lines. A-B-C type correction. 0.618 fib level is the strongest pullback level as it is also the button line of the parallel channel. Highly possible that correction will stay in between parallel lines. If it breaks the 0.618 level then the next support level is 0.786 which is around $47.000. Given the fact that 66B BTC in option to expire on Friday, these levels are more likely expected. Tomorrow and next week, we need to watch 50K and 47K levels more carefully. After hitting a support level, then it might climb to $70 level before another strong correction.
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