Current macro thoughts on $BTC
We are still bullish and people should still feel bullish. We're making higher higher and higher lows, and none of that has been invalidated yet.
The three diagonal lines I've drawn show areas of previous resistance, which in two cases are now support. The third and final one has yet to be crossed.
We are currently in an ascending channel, which have been remarkably consistent over the last 8 months. For a reversal to happen (see previous reversal post) we would still need to see another high from here. Either higher high or lower high alongside the appropriate divergence.
So there is no logical situation where I see us failing to reach either 83xx to 86xx area. Even if we were to ultimately fail roughly in the 8k region we would need to paint a proper reversal pattern which requires a further high (double top, triple top or HnS).
We are still bullish and people should still feel bullish. We're making higher higher and higher lows, and none of that has been invalidated yet.
The three diagonal lines I've drawn show areas of previous resistance, which in two cases are now support. The third and final one has yet to be crossed.
We are currently in an ascending channel, which have been remarkably consistent over the last 8 months. For a reversal to happen (see previous reversal post) we would still need to see another high from here. Either higher high or lower high alongside the appropriate divergence.
So there is no logical situation where I see us failing to reach either 83xx to 86xx area. Even if we were to ultimately fail roughly in the 8k region we would need to paint a proper reversal pattern which requires a further high (double top, triple top or HnS).
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