Bitcoin (BTC) is on the run, printing a new high with each day. After officially achieving a new all-time high by market cap, will Bitcoin finally break through that elusive $20K barrier once more? Or will we first see a major correction?
When correction? BTC/USD 1 week chart. Source: TradingView
It’s hard to not get excited when looking at the weekly Bitcoin chart. In the past 30 days, Bitcoin has undergone a true parabolic run. But it is yet to reclaim its previous all-time high, which is just 10% away.
However, as the saying goes, what goes up, must come down, and right now the question on everyone’s mind is “when correction?”
The doomsday scenario of the Fibonacci retracement levels paints a bleak picture of a 50% correction to the .618 of around $9,000. But in a post-halving bull run, is this something hodlers need to prepare themselves for? Or will previous resistance levels serve as the support on