BTC Whoopsies 
2025-01-10
Category: None

Bitcoin has been consolidating sideways for the last few weeks after taking the highs at 108k and moving back down to the lower portion of the value range. 

I am looking for a potential ABC corrective structure here after a rejection at the 0.618 from the recent bounce, leading me to believe we may see the 1-1 extension of this corrective move down towards the mid 80k range, in particular around 87k. 

We are moving downward here with some stronger momentum as the downtrend has provided significant resistance to price, and support levels such as the weekly at approx 94k failed to provide a strong zone of support. 

I will be looking for a large potential liquidity grab over the coming days for a potential long trade back to the highs. 

Only time will tell! 