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π° Bitcoin exactly rejected from the mentioned resistance level. Expect a few more weeks of sideways and slow action before it drops to $55k - $50k.
π₯ Bitcoin is expected to trade between $60,000 and $66,666 for the next few weeks.
Significant Movement / New Trend may occur if weekly candle closes below $60,000 or above $66,666 on the chart.
High possibility of a quick drop to $55k - $50k before the bull run resumes.
π° BTC HALVING PRICE HISTORY:
β’2012= $12 halving, $964 1yr later
β’2016= $663 halving, $2550 1yr later
β’2020= $8740 halving, $55801 1yr later
β’2024= ~$63300 at halving
Where will price be 1yr later?
π₯ Those expecting #Bitcoin to hit $100k right after the halving should lower their expectations.
History shows there's usually about 4 months of sideways movement and re-accumulation before any major price surge.
A mini altcoin season is Expected.
π₯ βBitcoin Halving" search query on Google set a new ATH, which is nearly 30% higher compared to the data from 2020 π
Retail a.k.a Exit Liquidity is comingβ¦
π₯ Bitcoin's Halving Effect : The avg direct cost of production of one #bitcoin is expected to increase from $25,000 to $37,800.
π 1
π° Bitcoin Vs SOL Price Action :
#SOL, after losing the 50 EMA support, dropped by 28% towards the 200 EMA.
#BTC can follow a similar price action as long as Bitcoin is trading below 50 EMA.
Expecting a 15%-20% drop from here ππ
π° The market is fluctuating between $61.5k and $63.5k range.
It could keep moving choppy sideways until it breaks through either of these levels.
π° Bitcoin hit the 200 EMA and dropped by $5.3k, as expected.
There is a possibility of a small recovery from here before the next drop.