This idea is strictly for demonstration, education and study purposes. Please refer to previous analysis linked below. As an update, we do know that on the highest timeframes that BTC is due for a correction. Of particular note, we have bearish divergence on the weekly and daily timeframes. Price does not go up forever without a correction. A correction in a flag formation is possible, retesting $45K levels, before price continues it's bullish continuation. Diagonal is for demonstration to show points of intersection for flag formation. I used Fibonacci on the highest timeframes (swing high, to swing low and swing high) to land us at this point of intersection as well. I would be very careful at buying at the most recent highs (smart money). I believe we will see higher prices, but we are due for a deeper correction. Trade at your own risk. Please study.
