Bitcoin correction extends a bit further as 92k comes onto the radar

A little earlier this morning, Bitcoin fell back to a fresh low on the week, at 92,059. It has just rebounded off that low to above 92,500, but the further fall this morning is yet more evidence of the unwind and corrective move to the downside. As to how far that will extend is hard to predict, but to give some idea of nearside targets (which are not actually that near), we look at the whole move up, from 49,212 to 99,728. That makes 87,806 the first possible resting point should this downside run extend. Thereafter that comes 80,431. Well, as you can see, any move down there would certainly have come from a major shake out. As to whether that happens is not in the domain to predict here. BTC is currently trading at 92,155