The $60k low does not have to be taken. It is a very common school of thought that every low must be swept for continuation higher. And this is very usually the case, but context matters greatly. Bitcoin, in my view, has been putting together a textbook HTF Expanded flat reversal pattern. In expanded flats, the B wave takes out the highs, trapping bulls, and the C wave takes out the HTF lows, trapping bears. It then reverses quite aggressively once it reclaims HTF structure. And it is actually far more common for expanded flat reversals to not sweep the local low. In this case, $60k. Expanded flats are highly common in large scale trending markets, like Bitcoin is in. These create the perfect traps because they trap both bulls and bears, and they leave everybody waiting for that low sweep that never comes. There are times where the low is swept, and that does not invalidate the move. It is just less common. What does invalidate the pattern is an extended leg lower from here. So, as always, you need to be aware of these outcomes and what they mean. If we reclaim $74,400 on the weekly the correction is over and it very likely wont look back again, whether or not it sweeps $60k. This would further trap both bulls and bears who are confused why it has just moved higher without the bottom formation they were expecting.