Bitcoin (BTC) price continues to grow calendar week in and week out, every bit another 9% has been added to its value since last Sunday.

Nevertheless, with the block reward halving existence merely over ii weeks away, and mining difficulty set to increase some other v% in picayune over a week, is the bull market place now upon us? Or will the halving be another non-event much similar other hyped up narratives like Bakkt, institutional money entering, or the VanEck Bitcoin ETF?

Today, I want to look at a couple of different scenarios that I am watching for in the week ahead.

Daily crypto market performance. Source: Coin360.com

The top of the channel

BTC USD daily chart. Source: TradingView

Taking a look dorsum at last Sunday's assay, I shared two possible outcomes I was looking at. The inevitable path to zero versus the slow bullish grind to $10K.

As tin exist seen from the daily chart above, Bitcoin is following the light-green path and is currently sitting at the top of the ascending channel. As such, it's reasonable to look that should the slow and steady upward path continue, we are due for a minor pullback to one of the two price levels.

The aqueduct'south moving average is around $7,300. Or, should this fail, the back up of this channel sits effectually $6,600. Holding either of these levels volition still firmly plant $8,000 equally a reasonable target to expect by this time next week.

However, this ascending channel was drawn to reverberate a continuation of the pre-bull trap price action. Equally such, there is another scenario that could be playing out, which plants $10K Bitcoin as a target as early on as next week.

The bottom of the channel

BTC USD daily chart. Source: TradingView

In this channel, it plants the electric current price near $500 higher up the support of $vii,120. This would put overhead resistance beginning at the moving average of $8,440 and then as high every bit $9,800.

As such, watching both of these scenarios to meet which is get-go invalidated could give the states a clearer picture of where the Bitcoin toll could close by the end of the calendar week, and $10,000 is entirely possible should this play out.

Either fashion, I am leaning towards the upside, as tomorrow should encounter the much predictable bullish crossover on the weekly moving average divergence convergence (MACD) indicator.

The weekly MACD indicator looks set to cross bullish in a week from tomorrow.

MACD's nigh reliable betoken

BTC USD weekly MACD chart Source: TradingView

I'one thousand certain regular readers of my analysis are familiar with my views on the weekly MACD indicator, but I even so like to recap when I mention information technology. The MACD line is set to cross bullishly through the indicate line tomorrow. This is typically followed by a power motion from the king of cryptocurrencies, Bitcoin.

In March 2022, when the weekly BTC candle opened at $971, ushering in a bullish supercycle that saw the price top out afterward an impressive 2,000% rally to $20K in just over nine months. The MACD so signaled the start of the great crypto winter in January 2022 with a bearish cross.

On February iv, 2022, the MACD was at it once again, with another bullish cross that led to another monster leg upwards some 400% before signaling a bear trend in Baronial 2022.

Thus, if you solely traded Bitcoin based on the weekly MACD crossing, you'd be considered a genius. Therefore, when I meet a bullish cross on the table, I go excited about the next potential move for Bitcoin.

Is a Bitcoin breakout Imminent?

BTCUSD hourly nautical chart Source: TradingView

Lastly, in this week's assay, the lower fourth dimension frames such every bit the 1-hour nautical chart for Bitcoin are likewise signaling that a breakout is imminent.

Later on Bitcoin's 10% leap on April 23, BTC/USD has spent three days consolidating, caused past buying need matching the selling pressure. Every bit this continues, information technology sets the phase for a breakout in the next 24 to 48 hours, particularly if the hourly candle closes above $7,700, expect $8K equally the next level of resistance. This opens the door to $9,800 before the terminate of the calendar week.

Conversely, if support fails at $7,550, the side by side buying opportunity should be between $7,120-$7,300.

The views and opinions expressed here are solely those of @officiallykeith and do not necessarily reflect the views of Cointelegraph. Every investment and trading movement involves risk. You should conduct your ain research when making a decision.