BITCOIN CONSOLIDATION PATTERN | MULTI-MONTH PRICE FORECASTI believe Bitcoin will not follow the price action from the previous cycle and instead carry out a consolidation, bullish pennant, equilibrium formation.
Price in equilibrium pattern as it gets squeezed over the coming months
RSI projection is heavily bearish
200WMA forecasted to intercept upwards sloping trend line for potential pivot point
Monthly MACD cross over, heavily bearish forecast for the coming months.
Conclusion: Bullish momentum halted for the short and medium term. Price to consolidate & volatility to weaken over the coming month(s). Price to swing and pivot between trend lines and squeeze before breaking out to the upside.
