Some analysts are calling for a wave 5 bull run to a new all-time high to 100k or more, any day now.
When putting this idea up next to the next scheduled halving on approx. April 15th of 2024, does it seem like it makes sense given Bitcoin's historical behavior around halvings?
It could make sense if it broke above this rising wedge and continued higher beyond the 2024 halving.
However, it may make more sense to see a temporary rise in price taking Bitcoin to a lower or same high as our previous ATH, and then dropping back down near the levels we are presently at around the 2024 halving.
Bitcoin typically remains in a negative correlation with DXY, less so when looking at CC, more so when comparing price action and corresponding peaks and valleys between the two:
Should this remain true, DXY may threaten Bitcoin's recovery, cutting it short - or even causing it to drop significantly further than anything shown above.
What do you think will occur?
When putting this idea up next to the next scheduled halving on approx. April 15th of 2024, does it seem like it makes sense given Bitcoin's historical behavior around halvings?
It could make sense if it broke above this rising wedge and continued higher beyond the 2024 halving.
However, it may make more sense to see a temporary rise in price taking Bitcoin to a lower or same high as our previous ATH, and then dropping back down near the levels we are presently at around the 2024 halving.
Bitcoin typically remains in a negative correlation with DXY, less so when looking at CC, more so when comparing price action and corresponding peaks and valleys between the two:
Should this remain true, DXY may threaten Bitcoin's recovery, cutting it short - or even causing it to drop significantly further than anything shown above.
What do you think will occur?
