BTCUSD: Channel Up initiating correction to 70,500.BitcoinCRYPTO:BTCUSDInvestingScopeBitcoin turned heavily bearish on its 4H technical outlook (RSI = 36.597, MACD = -326.500, ADX = 25.692) as not only did it cross under the 4H MA50 but was also rejected there on its first test as Resistance. Technically that is the start of the new bearish wave of February's Channel Up. As before, it should test at least the 0.618 Fibonacci (TP = 70,500), which is again directly over the bottom of the pattern. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##