let´s have look at our weekly macro chart for Bitcoin and only include the very basic information such as MA200, Bitcoin Halving, major long-term lead lines and Support & Resistances.
Looking at this it becomes rather likely, that we will see the area between 6.8k and 5.7k for Bitcoin within this consolidation period. We are not very far away from this. We are likely going to breakdown the long-term lead line this week.
What happens when we reached this area and what the halving is going to have for an impact, also taking the overall economic crisis into consideration, no one knows and I as usual refuse to make any assumptions here. What I am personally looking out for is a re-entry, as I am not a holder and currently trading with USD, but of course want to switch back to Bitcoin as my base-currency to increase. This is out of question at the current state.
As usual I have marked significant prices for you with labels. Stay safe. Stay healthy. Trade safe.