#hotTrends $BTC $ETH $BNB Warning: Bitcoin could correct strongly

Bitcoin completed the 38.2% Fibonacci retracement yesterday with an intraday low of 60,771. That low also bounced off the internal uptrend line. So, this means the uptrend could continue from here if Bitcoin does not fall below 60,771.

The 50-day moving average is behind the 20-day moving average

Furthermore, consider moving averages. The 20-day MA was broken during the retracement, and the area around the 20-day has acted as resistance since it fell below it on March 19. This means the trend is The next downward trend may be imminent. When a moving average is broken, the next one in the series becomes the target. The 50-day MA is down at 57,177. If achieved, it would also place Bitcoin below the internal trendline.

Adjustable following 87.5% increase

Given that this correction comes after a relatively quick 87.5% gain, it would not be surprising to see Bitcoin fall a bit more before the correction ends. The 50% retracement level is 56,168 and the line The second trend also identifies potential support around the 50% level. Remember, last week's candle showed indecision and a possible top. On Tuesday, the weekly reversal was triggered when gold fell below last week's low of 64,505. Below the 50% retracement is the 61.8% Fibonacci retracement at 5,998. Note that the second internal uptrend line will be broken at that point, leaving the full uptrend line from October