Bitcoin hit a relative high at $39K. After that it retraced and may be exhibiting a corrective phase from a nested Elliott Wave impulse beginning at $32K. If that is the case we can expect a retracement to $36.2K or $35.4K, before another burst of momentum. Bitcoin appears to be consolidating between technical and Fibonacci levels between $36.7K and $37.7K. If that is the case, we would not expect a retracement, but a sideways correction leading to an eventual breakout. Either way, we are bullish of Bitcoin and will be loading up at the levels mentioned. A healthy breakout will place us back to $40K
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