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Bitcoin Halving 2024: Ride to $250K? Bitcoin Halving 2024: Ride to $250K? Introduction: In the crypto realm, Bitcoin reigns supreme. As we gear up for the upcoming Bitcoin halving in April 2024, the excitement is tangible. The halving, a historic price catalyst, has set the stage for Bitcoin's surge. Let's delve into the phases of the halving and the prospect of Bitcoin hitting $250K. 5 Zone of the Bitcoin Halving: 1️⃣ Pre-Halving Zone: Approximately 4 months pre-halving, a prime time for deep retraces that historically lead to post-halving gains. 2️⃣ Pre-Halving Pump: Around 100 days before the halving, a rally ensues as investors "Buy the Hype" in anticipation, aiming to "Sell the News." 3️⃣ Pre-Halving Retracement: A common retrace around the halving date ( Pink Colour ), fostering investor doubts about the halving's bullish impact. 2012: -30% 2016: -45% 2020: -66% ( Covid ) 2024: ? 4️⃣ Re-Accumulation: Post-retrace, a multi-month re-accumulation phase (Red box) occurs. Impatience, boredom, and disappointment shake out some investors. 5️⃣ Parabolic Uptrend: Breaking out from re-accumulation triggers a parabolic uptrend (Green), propelling Bitcoin towards new All-Time Highs. The Road to $250K: Historically, after breaking out from re-accumulation, #Bitcoin embarks on accelerated growth, reaching new heights. If the trend persists, the possibility of Bitcoin hitting $250K in the next cycle is on the horizon. RT/Like/Comments if You Agree
INDEX:BTCUSDLong
by CryptoPatel
Bitcoin Bull Market Target And Bottom Analysis Bitcoin Weekly Chart Analysis Current Status: Expansion Block #BTC is currently navigating within the expansion block, and signs point to a potential rejection around the $47,000-$48,000 range. Red Box: Correction Block Anticipating a correction phase, with a possible retracement to $31,000 if Bitcoin faces rejection at the $48,000 level. Retracement Scenario: Opportunity Beckons Following this retracement, we brace ourselves for the next bull run. This dip could present excellent buying opportunities for astute investors. Next Bull Run Projection: Green Box Envisioning a bullish zone in the green box, with expectations reaching around $150,000 in the next significant uptrend. Key Levels: Support: $31,300 Resistance: $47,000-$48,000
Long
by CryptoPatel
1
Bitcoin Bearish Pattern So ready for $31500 ?Bitcoin Analysis Update Current Status: Near Parallel Channel Resistance Bitcoin is currently hovering near the parallel channel resistance, with a range between $40,500 and $41,000. The recent price action resembles a rising wedge, suggesting a potential bearish move if the $41,000 level faces rejection. Anticipated Reversal Scenario: If the price rejects from the $40,500-$41,000 range, we may witness a bearish trend. The initial stop is projected at $37,500, and a second stop at $32,000 could come into play if the channel support at $37,500 is breached. Key Levels to Watch: Support Levels: $37,500 / $32,000 Resistance Level: $41,000 Follow us for Real-time crypto updates. Thank you.
Short
by CryptoPatel
Bitcoin Weekly Chart Analysis: Navigating the Bearish LandscapeBitcoin Weekly Analysis: Navigating Market Dynamics Overview: Bitcoin is currently navigating a complex technical landscape, marked by a bear pennant on the high-time frame (HTF) and resistance at the upper boundary of a rising wedge. Bearish Sentiment: Bear Pennant Formation: Bitcoin is ensnared in a bearish pennant, signaling a challenging market sentiment. Rising Wedge Resistance: The cryptocurrency faces resistance at $38,500, aligning with the upper boundary of the bearish rising wedge. Potential Scenarios: Confirmation at $38,500: High probability of a downward trend. Potential Liquidation Wick at $46,000: A strategic level for liquidating high-leverage positions. Support & Resistance: Support Zone: $29,000-$30,000 within the rising wedge. Resistance Levels: $38,000 and $46,000. Key Considerations: Caution Advised: Exercise prudence and conduct thorough research before making any trading decisions.
Short
by CryptoPatel
False Bitcoin rumors revealing real market sentiment False Bitcoin rumors revealing real market sentiment Fake news sent Bitcoin up about 10% on Monday, surging from $27,900 to over $30,000 after Crypto news site Cointelegraph posted on X that the Securities and Exchange Commission had approved BlackRock’s spot bitcoin ETF application. In response to the rumor, BlackRock had to clarify that no decision had been made regarding their ETF application. Even though the rumor has now been debunked, Bitcoin is still up more than 5%, at $28,600, with some movement suggesting that buyers are still willing to prob for more gains. The 10% upside move has perhaps provided us with a preview of what might happen when/ if the SEC eventually approves or rejects BlackRock's Bitcoin ETF application. It could also be argued that we are also getting a glimpse into what could happen if the SEC rejects the application, with targets set at the pre-rumor price of $27,900 the first port of call.
BLACKBULL:BTCUSD
by BlackBull_Markets