Bitcoin finally regained some footing after a bearish day yesterday. We spent most of the day in the high $40K handle, after rejecting $45K's. Currently we have reclaimed the $50K's, but are not out of the woods yet. This could be a minor retracement into an overall corrective wave, ie wave B in our corrective ABC wave. If that is the case, we could easily test the low $40K handle again, before another impulse wave. We are still confident BTC is still well undervalued, but technical retracements do happen. If we are in fact not in such a corrective cycle then BTC is likely to range around current levels, feeling out the $50K's before another breakout.
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