I personally still see that the $BTC price has the potential to rise to the Fibonacci 0.786 - 0.886 at the price range of $47.3k - $44k or something like that. Considering the potential approval of the Bitcoin ETF, it's likely that there will also be enthusiasm among conventional investors who welcome alternative investments such as Bitcoin.
If we analyze the Bitcoin Exchange Flow, traders in both the spot and derivative markets are not aggressive in making decisions to sell their supplies in large quantities. So it's still very possible that the price of Bitcoin will rise, maybe the technical scenario will be like in the picture.
Written by CRYPTOHELL
