Bitcoin Could Hit 40k Soon

2 thg 5, 2021

When looking at how far a security could dip I generally like to look at key fib areas, particularly that .5 level. In this case, we see that Bitcoin has reacted well to this level in the past. We have completed the long-term impulsive wave and growth has slowed down in the recent extended wave. We have now created a lower low, which means the uptrend could be over for the time being. We also made a doji candle yesterday, which could mean that this strong week we had could simply be part of the bigger correction wave. Of course, it is possible that the bulls will not allow this to fall as far as 40k, but this is my personal opinion. Good Luck!