BITCOIN Will this historic level break too?

Bitcoin (BTCUSD) remains supported on its 1W MA50 (blue trend-line), which is its main Bull Cycle Support, despite the recent volatility. As mentioned numerous times, in periods of uncertainty it helps you maintain an objective long-term perspective if you zoom out and look on the wider time-frames.

On this 1W chart, we can see that so far all of BTC's Cycle's have followed the same pattern. The Bear Cycle bottoms and the first bounce of the Bull Cycle aims at breaking above the ATH Lower Highs trend-line (blue Arc). It is what we call the 'Growth Channel' that guides the market from its Cycle bottom to break above the ATH Lower Highs and when it does the Parabolic Rally Phase (green Rectangle) starts. The most aggressive part is when the price breaks also above its Growth Channel.

This is the only Resistance level that has yet to be broke on this Cycle. If it does, the market will explode to Targets above $200k that will start putting it to capitalization levels that would require earth shattering catalysts in terms of adoption. A continuation of expansion within the boarders of the Growth Channel however can easily target $150k. Notice that throughout the whole process of the Growth Channel expansion on all Cycles historically, the 1W MA50 (blue trend-line) tends to hold and support.

So what do you think will happen this time? Will Bitcoin break above the Growth Channel and offer us another proper Parabolic Rally or will it be a more standard rise within it? Feel free to let us know in the comments section below!

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇