It is not clear if Bitcoin price action is in a bullish ascending channel or a bearish flag.
With Bitcoin current fundamentals after halving, I would like to side with the bulls. But given that anything can happen, its is always safer to consider more than one scenario.
Scenario 1: Price breaks through the ascending channel and breaks through the $10,500 resistance level.
Scenario 2: Price retests the immediate resistance at $10,350, fails to break it and breaks below the ascending channel back into the $9400 area.
I am betting on the bulls.
With Bitcoin current fundamentals after halving, I would like to side with the bulls. But given that anything can happen, its is always safer to consider more than one scenario.
Scenario 1: Price breaks through the ascending channel and breaks through the $10,500 resistance level.
Scenario 2: Price retests the immediate resistance at $10,350, fails to break it and breaks below the ascending channel back into the $9400 area.
I am betting on the bulls.