Historically all the corrections after rapid raises in the bitcoin are 1/3 to 1/2 of the upward rally..
This last rally was a bit extreme last week but the bull momentum is a bit older, and you have to see all the picture...
My bets are at a bounce around 12k and a new rally to the moon... (it can be lower though....)
Looks like BTC is moving inside a looooong lasting pitchfork, its near to break the upper resistance of the pitchfork, but now its more likely to touch the support at around 3k before it starts to move up again and break the upper support of this looong lasting pitchfork...
I'm going short for now, and will buy back at 3.1k then just lay back, pop some popcorn...
Maybe what we are seeing is just the 4th correction leg of an Elliot Wave, the Fibonacci scale fits. The correction is probably an ABC and will end mid June between 1800 - 1900... And then the impulse 5th leg will take off to the moon!!!!
Fundamental analysis:
Lots and lots of ppl getting aware and starting to use bitcoin and altcoins, lots of important...
