Bitcoin- Chronicle of a Break ForetoldA couple of weeks ago, I raised the question: What if Bitcoin were to remain stuck in a range between 70K and 50K for an extended period?
Although this idea seems unimaginable to the bulls—who get frustrated by any statement that isn’t "Bitcoin to the moon"—this scenario is more than just a remote possibility.
Recently, Bitcoin hit the 70K zone once again, and from a technical standpoint, it broke out of the flag it had been trading in for over six months.
However, to me, this breakout feels more like the "chronicle of a break foretold"—the one we’ve all been expecting, where everyone’s buying, everyone’s making money.
Yet, from a fundamental perspective, things aren’t looking as rosy as one might think.
Technically, it seems like the price will come back to confirm the breakout. But again, from my point of view, things just seem a bit too simple .
So, what if Bitcoin slips back under 65K and continues downward towards the bottom of the range at 50K?
Asking for a friend. :)
