Current situation
Bitcoin failed to cross the multi-year resistant trendline from the peak of 2017. It is also battling to cross the mid range. If it can consolidate above mid range I think it could breach the resistant trend line consolidate again and then aim for range high.
scenrio 1
BTC gets rejected by rage high first but consolidates under and using the resistant trendline as support where BTC bounces off, takes out range high and makes a macro higher high for the first time in 2 years.
scenario 2
BTC fails to hold the resistant trendline as support and it will suffer a post halving dump and create a Head & shoulder bottom which will be used as fuel to take out the resistant trendline
Longterm bullish on bitcoin but I don't rule out another post halving dump (see litecoin). I'm definitely looking at that trendline
Bitcoin failed to cross the multi-year resistant trendline from the peak of 2017. It is also battling to cross the mid range. If it can consolidate above mid range I think it could breach the resistant trend line consolidate again and then aim for range high.
scenrio 1
BTC gets rejected by rage high first but consolidates under and using the resistant trendline as support where BTC bounces off, takes out range high and makes a macro higher high for the first time in 2 years.
scenario 2
BTC fails to hold the resistant trendline as support and it will suffer a post halving dump and create a Head & shoulder bottom which will be used as fuel to take out the resistant trendline
Longterm bullish on bitcoin but I don't rule out another post halving dump (see litecoin). I'm definitely looking at that trendline