BTC Price Action Analysis – Consolidation Before $50k?

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Hello, guys!

Let’s consider Fibonacci extensions of the current price action. It found resistance at 0.5 Fib ($41381), this is ATH level and when there was a breakout this level is an extremely strong resistance.

Now the price is in range between 0.61 Fib ($44356) and R2 Pivot /0.786 Fib ($48592). There is a consolidation after massive growth which is absolutely normal. It is high probability of ranging continuation between these two levels, or may be pullback to previous ATH before the the next target ($53988) could be reached.

DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.