Two paths

27 thg 2, 2023

Bitcoin has shown some strength in the past month. It's coming up on some decision-making to do, though. Based on the current market structure, this could be consolidation before another leg up, or it could be rinse and repeat from the previous leg down we saw in June last year. The two ascending channels look very similar. If the price breaks down below the channel, it likely means a retest of the low and will play that out over the next few months. If it breaks above the channel, then I would consider that bullish. Choose your own bias.