Bitcoin has been struck around resistance at the 78.6% Fibonacci retracement for the past four days as it attempts to break higher and further its advance. The high from the rally off the recent retracement low is 71,790. Trading has remained above the 20-Day MA for the past several days. Also, for the past four days Bitcoin has closed above the prior record high of 69,000 from November 2021. {chart} In addition to completing a 78.6% retracement, this week’s high also hit a target from a small rising ABCD pattern (not shown) with the CD leg extended by the 127.2% Fibonacci ratio. It starts from the recent retracement ... (full story)