IBIT
March 12, 2024 Closed longs at 41.5 levels.
it was approximately 1.618 extension for the move from 37.77 to 39.37 to 39.02.
So far
IBIT
consolidates or retraces to 50 averages. So for the rise from 39.02 to 41.62, I expect a retrace today to 40.6 levels.
I have a next target as 43 levels if this retracement low is held.
Also if 39.5 is broken then the gap is filled which will lead to a fall in the current momentum on the upside. Then I expect some more consolidation before the next leg.