Bitcoin (BTC) - About 150 Days Before HALVING (Update)
Updated
Bitcoin's been testing our patience at the 38K zone, but it's clear: the bears are itching to drag it down to lower support levels where every attempt to breakout from 38K has been surpassed (even strong liquidations). Now, with all eyes on the upcoming Halving in April 2024, we're on high alert for market maneuvers.
History's got a way of repeating itself, and if we're reading the patterns right, we could be in for a pre-Halving shakeout. We've seen the FUD and the euphoric pushes, but remember, it's the calm traders who survive the storm. So, we're watching that 40K psychological resistance for any potential touches there, but overall, our aim is still the lower zones (more near $26-32K, if not the lover) before the halving.
Swallow Team
History's got a way of repeating itself, and if we're reading the patterns right, we could be in for a pre-Halving shakeout. We've seen the FUD and the euphoric pushes, but remember, it's the calm traders who survive the storm. So, we're watching that 40K psychological resistance for any potential touches there, but overall, our aim is still the lower zones (more near $26-32K, if not the lover) before the halving.
Swallow Team
Note
Marked on a smaller timeframe are some "phantom zones," which we have been struggling to exit from. Bouncing from one side to another is one strategy that can be used in the current market state.
Note
With markets being greedy and prices being overbought, we are not seeing much of bullish movement here (at least not for long)
We are still seeing signs of turnover; the only question is, when?
Note
BTC is showing us a sharp movement to lower zones upon closing the weekly candle, trying to not let price secure above 38K zone
Note
BTC went for another attempt to secure that 38K zone but failed to maintain this zone as of now!
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