Hello, dear subscribers! 😉
Let's take a look at current Bitcoin price action. We can see that the Head and Shoulders bearish scenario was cancelled because the neckline area was not broken.
There was also the danger of dead cat bounce scenario that could means the end of bullish rally but the price was able to find support above the 61% Fibonacci level according to swing high and low. This bearish scenario was also cancelled.
Now we can see that the price faced with the rejection exactly at the 78% Fib level but it is normal situation. If the price break through the 78% Fib the next rejection will be at ATH level, but now according to this analysis we can see that there is a high probability of bullish rally continuation and we can see the $44600 (R3 monthly level) during next week.👏
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