After analyzing some weekly price action i notice this recent drop in price action pinged Bitcoins rsi so an historic level on the weekly. Last time this happened was also 50 or so days prior to a halving like we are approaching and it concluded in a rally of 120%. with the only valid trend in the market being a falling wedge its my assumption we'll break out of current rising channel the rising wedge we're currently in to realize new highs by the end of April. Potential price action lower towards 5800 would still be valid in rising wedge respecting the goose neck pattern seen above. The head and shoulder is invalid formation especially on these time frames and inpending death cross just gives whales even more reason to liquidate everyone. Expecting move to happen to night after tradional markets actually crash oout of falling wedge . Glhf
After analyzing some weekly price action i notice this recent drop in price action pinged Bitcoins rsi so an historic level on the weekly. Last time this happened was also 50 or so days prior to a halving like we are approaching and it concluded in a rally of 120%. with the only valid trend in the market being a falling wedge its my assumption we'll break out of current rising channel the rising wedge we're currently in to realize new highs by the end of April. Potential price action lower towards 5800 would still be valid in rising wedge respecting the goose neck pattern seen above. The head and shoulder is invalid formation especially on these time frames and inpending death cross just gives whales even more reason to liquidate everyone. Expecting move to happen to night after tradional markets actually crash oout of falling wedge . Glhf