Bitcoin- New high before correction?
Updated
In my latest analysis of 
BTCUSD, I emphasized that the $35,000 mark serves as a robust support level for BTC.
As long as this threshold remains unbroken, the anticipation was for further upward momentum towards $40,000.
Now, with two weeks having passed since that analysis, Bitcoin has not only surpassed the $40,000 mark but has shown remarkable growth, exceeding 25% within this period.
This prompts a pivotal question: when can we expect a correction, or more precisely, from what level will it initiate?
In my opinion, there seems to be another peak on the horizon before any correction takes place, a notion supported by the current chart dynamics.
Following the recent upward surge and achieving a new high yesterday, BTC has started a consolidation phase in the form of a pennant.
This pattern, at least in theory, indicates the potential for another upward movement.
In summary, despite my consideration of a short trade, I am inclined to believe that the correction won't commence until BTC experiences another push, possibly surpassing the $45,000 threshold.
BTCUSD, I emphasized that the $35,000 mark serves as a robust support level for BTC. As long as this threshold remains unbroken, the anticipation was for further upward momentum towards $40,000.
Now, with two weeks having passed since that analysis, Bitcoin has not only surpassed the $40,000 mark but has shown remarkable growth, exceeding 25% within this period.
This prompts a pivotal question: when can we expect a correction, or more precisely, from what level will it initiate?
In my opinion, there seems to be another peak on the horizon before any correction takes place, a notion supported by the current chart dynamics.
Following the recent upward surge and achieving a new high yesterday, BTC has started a consolidation phase in the form of a pennant.
This pattern, at least in theory, indicates the potential for another upward movement.
In summary, despite my consideration of a short trade, I am inclined to believe that the correction won't commence until BTC experiences another push, possibly surpassing the $45,000 threshold.
Note
Bitcoin remains in consolidationDips are bought and today s NFP could bring the trigger for new rally.
Keep an eye on 44k for a break
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