I havent been checking the $BTC market for a while since it remains in an unpredictable zone.

Technical analysis however shows 2 bullish signs.

On the long-term:

First of which is the breakout of the (blue) descending channel & the (light yellow) bullish pennant that i have drawn 2 days ago in my last analysis. It remains to be seen if BTC will breach the 70k resistance though. Once that happens, we will experience a consolidation phase going into the halving where we will see a couple other pumps, which i do not expect will exceed the pricepoint of 84k. Miners usually take profits and sell their BTC holdings at that peak to pay off their expenses and upgrades for the reduced rewards, maybe even take a little profit.

You might have also seen many traders talk about a forming head & shoulders pattern, many of which have urged me to look into it.

Currently there is still no right shoulder confirming this pattern and we cannot expect it to form for another 3-4 days.

Short-term:

Also if a right shoulder were to form, we would be expecting a small pullback in the next 2 days to 64500-65000 range to form that shoulder peak before it rises again to a breakout. So on the short-term it remains bearish.

As for the intraday trading analysis, $BTC is currently in an ascending channel and will remain in an upward trend retesting the 68k resistance zone. It remains to be seen what the results will be at the end of day, but these would be the 2 scenarios:

1. breaking 68k, retest of 70k and gets rejected. consolidation above the new 67-68k support.

2. rejected from 68k, drop to 64-65k support, tracking right shoulder formation for bullish breakout.

This is exactly why im avoiding posting anything recently as BTC had some newsled changes that voided any technical analysis for the past week. Yes it did hit the expected targets and match the predictions, but it did so in such a chaotic manner. I can only attribute that to the maintained bullish momentum (that i expected to hold strong 2 days ago), but also to the continued selling volumes that are trying to kill the bulls.