Has the correction ended???
We need a daily close above $105,299 to confirm the end of the correction and validate the target at $113,000.
Today, gold has set a new historical high of $2,868.
In this cycle, Bitcoin has still been following the behavior of gold.
Previously, gold reached a historical high of $2,699, while Bitcoin was then at $74,000; afterward, Bitcoin set its historical high at $108,000.
After that, gold corrected in the same pattern that Bitcoin is currently showing. Now, gold has updated its historical high. If Bitcoin continues to follow the same movement, its target is $113,000 - $120,000.
However, to maintain the upward trend, it is important for Bitcoin to hold the support level of $84,000 on the weekly timeframe.
We need a daily close above $105,299 to confirm the end of the correction and validate the target at $113,000.
Today, gold has set a new historical high of $2,868.
In this cycle, Bitcoin has still been following the behavior of gold.
Previously, gold reached a historical high of $2,699, while Bitcoin was then at $74,000; afterward, Bitcoin set its historical high at $108,000.
After that, gold corrected in the same pattern that Bitcoin is currently showing. Now, gold has updated its historical high. If Bitcoin continues to follow the same movement, its target is $113,000 - $120,000.
However, to maintain the upward trend, it is important for Bitcoin to hold the support level of $84,000 on the weekly timeframe.