Above is two of the possible scenarios that we could see play out over the next year for bitcoin. As of the publishing of this post, Bitcoin has taken on a firmly bearish tone falling to as low as $7300. However, with this move we have successfully filled the last remaining CME gap at $7695. With that, the CME chart has also produced one of the largest CME gaps to date spanning from $9175 right down to $8280.
We are currently being supported by not only this smaller trendline within the larger range, Bitcoin is also currently experience a bounce off of the bottom level of the logarithmic growth chart.
In addition to this, we have the halving coming up likely in early May and that will likely be a strong catalyst for a major move to the upside. In the event of an obvious boune, i will be adding significantly to my long position, aiming to take profits at both previous highs of $14,000 and $20000.
We are currently being supported by not only this smaller trendline within the larger range, Bitcoin is also currently experience a bounce off of the bottom level of the logarithmic growth chart.
In addition to this, we have the halving coming up likely in early May and that will likely be a strong catalyst for a major move to the upside. In the event of an obvious boune, i will be adding significantly to my long position, aiming to take profits at both previous highs of $14,000 and $20000.