Long Term thoughts for BTC into 2024 and 2025. I was hoping for one more push into 20k before a larger breakout for some prime accumulation levels, but but this actually makes for a more bullish chart. This chart is a LOG chart and BTC never broke below that channel which is key. Picture perfect bounce of the lower trend line. This next wave should be aggressively bullish and not give the great dip buy opportunities that traders are wanting.
Comment:
It has certainly been aggressively bullish so far. Now the main indicator to watch for is distribution and retest of the mid 30k level or does it continue to go vertical. If it goes vertical from here, the top will likely be less high and come sooner than if it can base in the high 30k to low 40k level for some time and then break out and really pump post halving. Spot ETF is certainly going to play a big roll in how this plays out.