BTC had recently formed a new ATH, and we're a few weeks away from the BTC halving. What I see is the potential for two scenarios playing out, both based on fractals (bullish and bearish). Both fractals will have certain conditions, and I will point them out in detail so we will know what to look for.
From a diagonal trendline analysis, 61K is a potential touch point. If we lose this support, the bearish fractal becomes more likely.
The potential bearish fractal:
The other scenario that is a possibility, is a correction followed by a longer period of range/sideways trading before an even higher new ATH, as we saw right after the ATH in 2013:
This scenario is more likely when we stay ABOVE the 60k support zone. From a larger timeframe, that fractal played out like this:
From a macro perspective / multi-month / multi year, I believe BTC has even higher highs in store:
NOTE : Because there are so many large institutions in the game this time, I don't expect the correction to be as big as per previous cycles.
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