I drew this in early Feb, and have since adjusted it with the pullback from 73k, taking into account the cup & handle pattern forming on the weekly.
Expect some sideways, downwards uncertainty whilst GBTC outflows continue on the ETF front.
As halving approaches closer, the fomo will reignite and blast upwards with the realization that there is not enough btc being mined or on exchanges in the short term.
My initial drawing was too short peaking at the previous ath then pulling back to 40k ahead of the halving. However, since early Feb, it has become clearer that there is no big pull back ahead of halving at this stage. Meme coins have exploded on solana, and solana itself has increased 60% since late Feb. Rotation into btc will inevitably happen with any more major pullback, which will limit the fall - at the expense of the alt coin market.
First time publishing - Some wave 2 may be drawn more than the 50% way, and wave 4 is sometimes unpredictable and messy.
Expect some sideways, downwards uncertainty whilst GBTC outflows continue on the ETF front.
As halving approaches closer, the fomo will reignite and blast upwards with the realization that there is not enough btc being mined or on exchanges in the short term.
My initial drawing was too short peaking at the previous ath then pulling back to 40k ahead of the halving. However, since early Feb, it has become clearer that there is no big pull back ahead of halving at this stage. Meme coins have exploded on solana, and solana itself has increased 60% since late Feb. Rotation into btc will inevitably happen with any more major pullback, which will limit the fall - at the expense of the alt coin market.
First time publishing - Some wave 2 may be drawn more than the 50% way, and wave 4 is sometimes unpredictable and messy.