#BTC
How do we reconcile the following historical tendencies?
- The Pre Halving Rally phase is beginning
- But historically, $BTC fails to break beyond the Macro Diagonal before the Halving
- And also historically fails to break its Four Year Cycle resistance (~$46000 in this cycle)
Keeping all these things in mind, here's how Bitcoin could reconcile all of these tendencies:
+ Bitcoin would need to produce limited upside in its PreHalving Rally phase
+ This upside would end up as an upside wick at the end of the February, like it did last month and also in 2019, for example
+ Then perhaps form another range at highs in March, enabling Altcoin rallies to take centre stage
+ Then finally pullback for a Pre-Halving retrace a few weeks before the Halving event itself
This could be the path that Bitcoin takes to upside wick beyond the Macro Diagonal but remain below it in terms of end of month Monthly Candle Closes in this slowly ending Pre-Halving period
