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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