🪙 #BTC
She descended and is now at a crucial turning point in further movement — will there be a breakthrough of the ascending trendline? Quite possible.
Looking locally at Fibonacci levels, the recent move to 42K was aimed at correcting the fall, and the next downside target will be the -27% Fibonacci zone, around 39K. This is also where the more medium-term Fibonacci correction zone intersects. Everything is more or less evident.
Therefore, I am currently watching for a complete breakthrough of the trendline, preferably also the 4-hour MA100. If everything is confirmed, I expect a continuation of the downward movement to 39K, maximum to 38K. After that, I will assess the situation based on buyers' reactions around these levels.
Talking about the continuation of the upward trend is justified only if the price returns above the 4-hour Ichimoku Cloud or at least bounces up from the medium-term correction zone.
