BTCUSD is at the 3rd/4th touch on up trendline support and almost sitting at the 4.618 fib from Bitcoins 10-Nov-2021 high fib extension. If Bitcoin finds support at 4.618 fib, a reversal should push up to fib 2/1.618 should be the next target between $52,997 and $55,538. These are real targets for the optimist.
But Bitcoin has broke most recent high fib 8 extension and is heading toward Fib 13 at $30,747. So we have reason to expect a bounce or maybe sideways movement for the weekend. Otherwise $30,747 is the next support/reversal area, if we fall thru there – then Fib 5.618 at $28717 next.

Honestly, looking at the Elliott wave pattern a zigzag and the bigger picture down seems to be forming. from the $69k high to the $33k low on 22-Jan-2022; 5 waves can be counted(Wave A). The corrective wave from 33k low to March 29 $48k high – 3 waves can be counted(Wave B) This is also the . 618 retracement from the Jan high to Mar low. This is the perfect setup for a zigzag (5-3-5) correction. If we continue down – the worst case scenario is about $12k. That’s when Wave A = Wave C. $12K is also Fib 8. Fib 8 is usually the end of a correction.