Made a bit of a projection earlier today, as bitcoin was touching on that blue line at the 32% retrace, and it seems to be happening, so let's just share; bitcoin is correcting! Two scenarios I think might happen; a retrace to the bottom in it's current channel, or it breaks the channel and falls back to an older channel. Arrows tell the tale. Let's see what happens!
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Moved the fibonacci a bit, to see what the actual pattern is. Either way, bitcoin is currently still trapped in a downward trend, so like nummus mentions below; correction might continue!
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We might have a breakout from the corrective channel!
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There she goes!