Bitcoin may rise, but a significant downtrend remains feasible.
Traders who eye $45,000 with high leverage may be liquidated.
Crypto Analyst Ali Martinez posted that Bitcoin [BTC]  has the potential to hit $50,000. But Martinez also noted the rise to the landmark could come with a negative after-effect.
According to his post on X (formerly Twitter), historical data from 2016 and 2019 supports the possible move.
However, he opined that BTC could face a 40% correction. This is because the coin would have hit the 0.786 Fibonacci retracement level.
In 2016 and 2019, after finding a market bottom, #Bitcoin’s first major correction occurred upon reaching the 0.786 Fibonacci retracement level.
Drawing from this pattern, if history repeats itself, $BTC may climb further toward $50,000 before experiencing a 40% correction. pic.twitter.com/Gh9dDYEaQH
— Ali (@ali_charts) December 29, 2023

BTC to take it back in time?
AMBCrypto observed the chart Martinez shared. According to the details, ther

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