The halving has been and gone — and so far, it hasn’t been the cataclysmic event that some in crypto circles feared. Some market analysts have now set their sights on what will happen next. Cointelegraph’s Keith Wareing says Bitcoin is on the cusp of ending a 46-week descending channel if it manages a weekly close above $9,200. (At the time of writing, BTC stood at $9,728 — giving it plenty of headroom even in the event of a sudden fall.) According to Wareing, achieving this “will be the single most bullish sign that Bitcoin has seen since before the 2017 bull run” — with $9,980 as the next level of resistance and a target of $11,600 lying ahead. Failing to hold $9,200 means $8,790 is the first level of support, followed by $7,600. Even if this happens, Wareing says he would maintain a bullish bias. “A bearish outlook for Bitcoin is simply not something I see as likely,” he adds.
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Source: Cryptocurrency - investing.com
