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#Bitcoin Correction to $51,600 and then $110,000?
Unfortunately BTC closed the monthly candle below the $61,300, level we were monitoring carefully. 👀
Hopefully it is just manipulation but if we stick only to the technical aspects, the 2Monthly chart just printed a reversal candle.
It doesn't mean the bull run is over, far from it.
In bull runs Bitcoin generally retrace to the 38.2% Fibonacci retracement level also called the 1st stop that lies at $51.6k.
As long as the 1st stop holds bull market is still on. 🤝