Bitcoin pulled back after hitting $ 57,800, which could enter a low-time ABC correction. The modest pullback caused the coin to retreat 6.8% from the local high to the Fibonacci level of 0.0236.
Technically, BTC / USD has not set a lower local low, leaving the door open for the bulls to regain lost ground and continue the trend in a hurry.
Still, Bitcoin could consolidate further before resuming the trend, which would have the advantage of providing structure to price…
Source link
