I don’t necessarily believe the bull run is over, but it may be. If it is over and the recent high was the bull run’s peak, then there seems to be a pretty clear long term channel that bitcoin is travelling in. In the chart, I try to set each fan so that it encompasses the reasonably likely continuations of the established channel. If this is the current peak, then we could see bitcoin fall as low as 10k.
If BTC has topped, this is the long term channel
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