BTC-USDT needs a break; First stop at 56-58K
BTC-USDT has hit new ATH most recently, and FOR SURE it needs a break before hitting new targets.
This break (correction) could be either time correction or price correction.
If we use Fib-retracement from 40K to 69K, the first level of correction is around 56K.
If we use Trend-based Fib extension on the last down-trend, the first level is around 58K.
Furthermore, a divergence on the daily chart and RSI is evident, which could further support this idea.
Therefore, for me the first target would be around 56-58, and then around 52K.
This break (correction) could be either time correction or price correction.
If we use Fib-retracement from 40K to 69K, the first level of correction is around 56K.
If we use Trend-based Fib extension on the last down-trend, the first level is around 58K.
Furthermore, a divergence on the daily chart and RSI is evident, which could further support this idea.
Therefore, for me the first target would be around 56-58, and then around 52K.
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