Bitcoin is struggling with the 50 and 200 Day MA's on the 1hr chart, which is why we think there is more to this pull back to complete Subwave 4 before it can go higher to complete Subwave 5 of Wave 3.
The 50 and 200 Day are at the same level and as we have seen lately, when this happens, a direction needs to be decided and its normally moves very quickly....this happened with $NIO too.
I would like to see one more leg down at least to the 0.23 Fib at $40k before going higher.
Daniel
2023-12-15 15:04:26 +0000 UTC