As you know I opened my last long BTC position at $41940 and now I am trying to anticipate when we can take profit. I have already set my stop loss to the zero loss level.
If we take a look at the last downside impulse we can see that the price corrected exactly to the 0.38 Fib level. I suppose that we can see the 0.5 and 0.61 Fib levels ($49600 and $53500). There will be the nice opportunity for the market maker to liquidate the short positions and cause the FOMO and greed at the market. I think that we are in bear market and after some growth we will see the prices below $30000.