Daily TF / logarithmic chart
A trendline has been in play since September 2023 where Bitcoin has found support on multiple occasions (thick white line). With a brief breakthrough in April.
Currently looking a bearish div. on 4H chart which would signify a move down. Using the fib chart, a break below said trendline could take us to the 618 which is also a liquidity-rich zone (around 66-68K price range).
The trendline could begin to act as resistance if this scenario plays out.
Based on previous Bitcoin halving cycles the "peak" always occurs in Nov-Dec of the year following the halving event 2013 / 2017 / 2021... 2025?
A trendline has been in play since September 2023 where Bitcoin has found support on multiple occasions (thick white line). With a brief breakthrough in April.
Currently looking a bearish div. on 4H chart which would signify a move down. Using the fib chart, a break below said trendline could take us to the 618 which is also a liquidity-rich zone (around 66-68K price range).
The trendline could begin to act as resistance if this scenario plays out.
Based on previous Bitcoin halving cycles the "peak" always occurs in Nov-Dec of the year following the halving event 2013 / 2017 / 2021... 2025?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.