Bitcoin Monthly Chart: Long-Term Structure & Two Macro ScenariosBitcoin all time history indexINDEX:BTCUSDAndEdgeBitcoin remains inside a long-term ascending channel on the monthly timeframe (log scale). Unless the lower boundary of this structure breaks, the broader macro uptrend remains intact. Key observations: - Price continues to trade within the rising channel - RSI is compressing after previous cycle highs - Monthly volume has gradually declined during consolidation - No clear capitulation volume signature has appeared yet In prior cycles, large red monthly volume spikes often marked late-stage bottoms or major reset zones. A similar signal has not appeared so far in this cycle. That leaves two primary scenarios: Scenario 1 (My base case) One more corrective move into the liquidity zone. BTC could revisit the lower part of the current liquidity pool (~53–54k), or even sweep deeper into the 45k–37k region before resuming the uptrend. Scenario 2 The cycle low is already in. BTC holds above the 60k area, avoids a deeper retracement, and continues the macro uptrend from current levels. The projected path on the chart is only my visual expectation. Visible patterns often invalidate before completion. This is my personal view of the current market structure — not financial advice.