First, we have Bitcoin's All-Time High ( ATH ) sitting at $19891.99.
A higher low hit in June 2019 at $13868.44.
Then we have a recent peak in February 2020 at $10522.51.
On the 30th of April, another peak was hit at $9478.66.
We are looking at lower highs.
We have no higher highs.
Bitcoin is likely to drop .
What about studying the lowers since the current ATH? I mean the exact reversal of what you have brought up today.
After the ATH, market fell down to its lowest by November 2018 (at the times of BSV launching) and then another lower was recorded by the time of covid outbreak. Among these two, bitcoin made a higher low than its previous fall which must be a good sign for assuming market may likely to stay stronger.
By combining higher low and lower high, we can assume bitcoin market is going to sustain around its median which is an usual signal before another stronger rally. Because, sustaining do happen before getting ready for stronger bulls mode. By considering the upcoming halving and its consequence of FOMO, market is exactly doing as per our expectations. Get ready for experiencing at least $380k levels before end of 2021.