💰 Bitcoin Timeframe: 4H
It looks like the expected higher level correction that I warned about in the previous analysis has begun. Since the local low of 72000.00 was not broken, the recent upward movement can be considered as a zigzag. Therefore, I conclude that the correction that began in mid-March is continuing.
This correction has two possible outcomes. As long as the price is above 56500.00, the triangle formation scenario remains (shown on the chart).
If the local minimum is broken, the correction will turn into a flat, and then the final target of the decline will be around 50000.00. We already looked at a similar situation in a review two months ago, only with slightly different numbers. Since then, almost nothing has changed.
🗣️ You can leave your opinion in the comments, I read everything!
