still a little bit of time until the halving event in March 2024. Historical bottoms appear to come in doubles. The market hasn't made that confirmation and potentially could, because of very little volume of trading activity is light within the Red lines where the frowning face is located. Since the MACD is just now reaching Positive on the weekly will we see that level, especially with the halving only 8 months away? Typically less than 200 days after each halving event, blocked off in green vertical bars in the chart, a new ATH price is being traded. A lot of uncertainty in the SEC, at this time it's unclear is Gary will be resigning, continue to declare the ETF filings are insufficient, and if he does resign, what the next person will do, and how long until any regulations can impact the growth and global adoption of the BTC payment networks.
Comment:
We have a winner! The ETF volume was just too great to force a double bottom before the halving cycle.