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Bitcoin ( $BTC ) Surges Past $45,000 for First Time Since April Bitcoin ( CRYPTOCAP:BTC ) Surges Past $45,000 for First Time Since April 2022! In the early hours of the day, Bitcoin's price surpassed $45,000 for the first time since April 2022, driven by expectations of a U.S. Securities and Exchange Commission ( #SEC ) approval for a spot Bitcoin exchange-traded fund (ETF). Are you ready for the next wave of crypto growth? Strong Resistance: $48600-$50600 #Bitcoin #Crypto #ETF #BitcoinETF
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by CryptoPatel
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
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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
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by CryptoPatel
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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.
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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.
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by CryptoPatel