Hidden Bullish Divergence at 55% Retracement
We may See BTC Had towards the levels of 48k and 50k as BTC is Back Testing the Old Resistance of a Right-angled and Descending Broadening Wedge we Broke out from earlier in the week which happens to align with the 55% Retrace.
If the BC leg ends here at the 55% Retrace our target will be the 181.8% Fibonacci Extension up at 50k but the lower the BC leg goes the lower our Extension target will be so an entry here at C is a speculative entry that this will be the extent of the Retrace due to the Hidden Bullish Divergence Visible on the RSI and MACD and the Support Level.
If the BC leg ends here at the 55% Retrace our target will be the 181.8% Fibonacci Extension up at 50k but the lower the BC leg goes the lower our Extension target will be so an entry here at C is a speculative entry that this will be the extent of the Retrace due to the Hidden Bullish Divergence Visible on the RSI and MACD and the Support Level.
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