Bitcoin’s break of 36649.0 resistance argues that the correction from 41964.0 has completed at 30635.0 already, after hitting 4 hour 55 EMA. The support from 36649.0 resistance turned support further affirms upside bias. Retest of 41964.0 high.
The depth of the correction might have met target, but the time spent is a bit too short. Hence, we’re not expecting sustained break of 41964.0 high yet. Instead, another falling leg is likely, to make the consolidation an three-wave pattern. Break of 36649.0 will argue that the third leg has started, for another take on 30k handle.
