The Pre-Halving Rally Has Begun
Last week we spoke about how the Pre-Halving Downside phase was coming a close and that the transition to the Pre-Halving Rally phase was slowly occurring.
Bitcoin broke out, slightly ahead of schedule, mere days before the Pre-Halving Rally was anticipated to occur.
Nonetheless, the Pre-Halving Rally has been confirmed with the newest Weekly Close.
The Pre-Halving Downside phase is over.
The Pre-Halving Rally has just begun.
Bitcoin Breaks Out From its Weekly Range
Last week we spoke about Bitcoin's Weekly Range:
And how Bitcoin was showcasing promising signs in breaking its RSI Downtrend to invalidate the Bearish Divergence:
And how price was compressing in between these two key trend lines:
And we now know that these were all signs of an impending breakout rally for Bitcoin, just in time to commence the Pre-Halving Rally phase:
Bitcoin has broken out of the Weekly Range and into uptrend continuation.
Generally, this cycle has been a story of Accumulation and Re-Accumulation Ranges (green Range Lows and red Range Highs):
With Bitcoin now in a new uptrend, let's now try to understand where could the dipping zones be, should any even occur.