The recent 'pump' due to Trump's announcement disappointingly only created a pullback to the previous area where a downtrend had already been triggered.
Looks like BTC will continue with the correction down to our next support level which sits at $67,792.
Once BTC gets to this level, we will either see a nice bounce off this support and we can continue higher or it's a possibility that we may continue even lower but will provide an update once we touch the next target.
We've currently down 23% from the top, let's be reminded that we've seen corrections as deep as -51% last cycle which are a healthy for the market!
Looks like BTC will continue with the correction down to our next support level which sits at $67,792.
Once BTC gets to this level, we will either see a nice bounce off this support and we can continue higher or it's a possibility that we may continue even lower but will provide an update once we touch the next target.
We've currently down 23% from the top, let's be reminded that we've seen corrections as deep as -51% last cycle which are a healthy for the market!
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#BTC still on target to $67,792!
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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.