622: BITCOIN PRICE WILL REBOUND BACK ABOVE $50,000 HINTS BTC FRACTAL SETUP FROM 2019, SAYS TRADINGSHOT!!
The ongoing Bitcoin downside correction is strikingly similar to its price action in June-December 2019. BTC faces the prospects of reaching $47,500-$50,000 based on its current trend's eerie similarity.
TradingShot, a market analytics platform, noted that a bullish divergence formation, coupled with a rebound from the 50-week SMA support, could again send Bitcoin prices to the 61.8% Fib level of the current top-to-bottom Fibonacci retracement graph.
In a chart provided by TradingShot, the 61.8% Fib level appeared near $47,500. Meanwhile, the other chart above showed the profit target near $50,000.
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