Bitcoin has established itself in the $7,600-$9,000 range, and is slowly regaining momentum. Veteran crypto trader, Filbfilb, confirms in his latest Decentrader newsletter that we should see the leading asset break above $12,500 before the upcoming halving event.

Dip to $5,000 Becoming Less Likely
The often-repeated meme for a dip to $5,000 may not materialize, the analysis confirms. Current support levels with robust volumes may prevent the slide, with a strong support level at $8,100. The $5,000 narrative is based on longer-term analysis of bitcoin still making lower highs, but the bullish MACD crossover that has recently appeared on the 1W BTC/USD chart strongly suggests against further decline.
It is often easy to get consumed by the narrative on twitter and fear mongering around dumping to $5k.  As it stands, I cannot see the argument on the chart; sure, we haven’t put in a higher high yet on the Macro timeframes, but that is always the case until after the event.
The analysis does, however, mention that dips in bitcoin’s…

Click to continue reading on its source location…