BTC's highly anticipated Bitcoin Halving might create the same pattern during the 2nd halving. Meaning, we might expect an exhaustion from it's current price of 42k down to 37k area or can even go lower to 31k area to touch the previous resistance area. This pattern was the same pattern after the 2nd halving where BTC exhausted around -38% from it's previous high before the halving occurred and soared high up around 4,000% right after the massive holder's elimination. If the same scenario will happen and BTC touches the 31k area, almost the same downside percentage will occur which is around -35%. Based on my 7 yrs of trading experience, hard pumps usually comes from hard dumps, so there's a high probability that this scenario will happen again this time creating a long candle wick in the weekly candle. However, since there is already this ETF's at play, institutions might be willing to push the price up without completing these expected downturns to create massive returns for their investors. No one is really 100% certain of what's going to happen in the coming weeks before and after the highly anticipated halving, but one this is for sure, BTC and the overall crypto market will enter the bull market this year until next year. THIS IS MY BOLD CRYPTO PREDICTION AND I SHALL STAND FULLY RESPONSIBLE OF THIS!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.