ביטקאָין ס ווייַטער פּרייַז ציל פאָרויס פון 'אַגרעסיוו ניט-האַלטן מיטינג'

Bitcoin (BTC) is navigating the post-halving phase, facing resistance below the last all-time high. As the crypto continues to find its footing, a section of the market believes that Bitcoin is in line to embark on a post-halving rally, an element backed by several analysts.

For instance, crypto trading expert TradingShot אנערקענט אין א TradingView post on April 22 that Bitcoin is at a critical juncture, struggling to surpass and sustainably close above its record-high resistance.

According to the analyst, the pattern has been marked by a period of sideways consolidation, and while it might suggest bearish sentiments, history suggests otherwise.

TradingShot ס analysis noted that within Bitcoin’s historical cycles, such periods of consolidation often precede an aggressive non-stop rally, propelling the cryptocurrency to new heights. Therefore, the expert noted that Bitcoin will likely peak at $150,000 to $300,000 if the pattern repeats.

“On any other occasion, that would be a bearish signal, an inability of the market to find enough willing buyers to push it to a new High. But with BTC’s historic cycles this has proved to be just a stepping stone before the most aggressive phase, the non-stop rally that drives the Cycle to its peak. (…) We estimate this to take place within the (admittedly) wide range of $150,000 – $300,000, depending on market conditions and relevant global demand from ETFs,” the expert said. 

Indicators to watch 

Based on the analysis, the key indicator signaling the potential rally is the three-week Linear Moving Average Convergence Divergence (LMACD). 

The expert noted that the indicator, trading within a channel-down pattern from the outset, tends to reach a critical juncture when it hits the 0.618 Fibonacci channel level. At this point, Bitcoin has historically closed above its record high and embarked on a robust rally.

Furthermore, the analysis suggested that the formation of a peak characterizes the final phase of this cycle. This occurs as the LMACD approaches the channel’s upper boundary and reverses, often preceding a bearish cross.

ביטקאָין פּרייַז אַנאַליסיס

By press time, Bitcoin was trading at $66,283 with daily gains of almost 0.4%. On the weekly chart, BTC is up 5%. 

Overall, the current Bitcoin price movement shows the cryptocurrency’s resilience after shrugging off the fallout from geopolitical tensions. Indeed, Bitcoin is establishing itself above the $65,000 mark amid a possible cooling down of tensions in the Middle East.

The $65,000 mark remains pivotal for market participants, as it will play a key role if the analyst’s projections are to be realized.

אָפּלייקענונג: דער אינהאַלט אויף דעם פּלאַץ זאָל ניט זיין געהאלטן ינוועסמאַנט עצה. ינוועסטינג איז ספּעקולאַטיווע. ווען ינוועסטינג, דיין קאַפּיטאַל איז אין ריזיקירן.