Bitcoin Macro Uptrend & Near Term Pullback Zone

٢٦ ديسمبر ٢٠٢٣

Bitcoin's chart shows that it's potentially topping out here and due for a pullback.

See my other recent post related to a pullback to the 38k zone to re-test prior resistance.

While we could push higher here in the final stage of an exhaustion rally to the Fib Golden Pocket, it's more likely that BTC retraces back down to the 38k - 40k zone before resuming the push to 50k.

But again, the Blackrock and other ETF approvals are the wildcard.

Either way Bitcoin is in a nice upward trending channel that likely takes us to new highs if not 100k by the Halving.

See my other related studies and 'The Path to 155k Bitcoin and Beyond'.

https://www.tradingview.com/chart/BTCUSD/fpolTuNp-BTC-Prediction-New-highs-by-February-1st-2024-and-Beyond/