BTC - Critical point
BTC is at a critical point here, right at the top of a descending bear channel that widens at the bottom, signifying more downside may be possible. BTC needs to break out of this channel this weekend, or we could see another down leg.
Even so, the future of BTC is obviously very bullish. It is still within 10% of its all-time high, and the peak we get after a halving is not yet finished. As it happened two times before, BTC surges for about 1.5 years after a halving. Since the last halving was in May of 2020, we can expect this cycle's surge to continue through to around September to November of this year.
So never fear these corrective phases in the middle of bullish runs. Better times are still ahead, and so are higher prices.
PS... According to centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/504-descending-broadening-wedge, "A descending broadening wedge is a bullish chart pattern. It is a bullish reversal pattern."
Even so, the future of BTC is obviously very bullish. It is still within 10% of its all-time high, and the peak we get after a halving is not yet finished. As it happened two times before, BTC surges for about 1.5 years after a halving. Since the last halving was in May of 2020, we can expect this cycle's surge to continue through to around September to November of this year.
So never fear these corrective phases in the middle of bullish runs. Better times are still ahead, and so are higher prices.
PS... According to centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/504-descending-broadening-wedge, "A descending broadening wedge is a bullish chart pattern. It is a bullish reversal pattern."
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