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I am still holding my long trade but closed 50% because I suppose that this price growth can end even earlier than I said earlier.

The price pumped to $40500 and a lot of traders suppose that it is the bullish move start.

What is the target for this correction? If we look at the previous trend reverse in July 2021 the price broke through the 26 EMA and the first correction was

I supposed that the Bitcoin is in large distribution phase and now the price is going probably to enter into markdown phase.

I thought that we will see impulse pump to $44k today, but the price got rejection again from the same level.

As you know I opened long position on BTC at $36300 and close it at $44500 when saw the incoming correction sign.

If we take a look at the last downside impulse we can see that the price corrected exactly to the 0.38 Fib level.

Now everything looks like the $41800 price level will be broken to the downside. But, there are no long or short signals now.

Today I re-entered the position because of the true bullish divergence on the 1h timeframe.