We are entering the 4th week of BTC sitting at the 50% retracement from its highs. Divergence is forming on the daily RSI, but without a meaningful bounce long trades remains at risk, with a potential bull trap in the making. We need to see a move above the 200DMA again, (currently seen as resistance.) for the uptrend to continue. For now it seems like the 50% retrace is the line in the sand, a break below this level could easily see Bitcoin below 20k again.
