What if Bitcoin was just channeling?

What if bitcoin wasn't doing anything other than trading inside a massive range?

A range that looks like this:

(Source: https://twitter.com/rovercrc/status/1505555510409400322/photo/1)

That would indicate bitcoin would go on to make new highs within the next several months.

This is not my base case for what I expect bitcoin to do from here, but it's certainly possible.

I find it hard to believe bitcoin will do something like this while the rest of the world is tightening monetary policy.

That will provide a major headwind for all assets everywhere.