BTC/USD Long Setup
There are two scenarios for this Bitcoin correction - this one is the more bullish, looking for support at the top of this channel (plotted on a linear axis) around $6400, which lines up with 50% fib extension support
Note
This is the more bearish scenario: 
Trade active
Long entry target reached at $6425 - 50% fib support and trendline supportNote
Getting a little bounce here, let's see if it holds: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.