We had a significant break below $50K, which threw a wench in my previous idea's narrative. However, it looks like price has stabilized and may be on its way back up. I think if support can hold between $46K-$47K, then we'll be targeting $50K in the coming days/weeks. If we can get a clean break above $50K, I think it would present a decent buying zone on a pullback to the $50K level. From there, I think we will encounter some resistance and perhaps consolidation as we approach the ATH. However, a break of the ATH may present another opportunity for a pullback/re-test at that level, which would be another good place to consider layering in.
These are just my thoughts, not financial advice. Best of luck to you!
These are just my thoughts, not financial advice. Best of luck to you!
