If Bitcoin breaks below the uptrend that has been in play since Sep 2023, I believe that said uptrend could start to act as resistance and that moves down to 52K are possible.
Possibility of a rally into latter part of April shortly following by a significant move down to one of these levels:
- the 618
- the downtrend that began to form in Mar 24
- the support region 49-52k
Projected flight path for "trough" est. Jun-Jul 25
A new ATH is usually printed Nov-Dec of the year following the BTC halving event:
- Dec 2013
- Nov 2017
- Nov 2023
Conclusion (provided the uptrend is broken):
- Rejection late Apr
- Trough in Jun
- New ATH Nov/Dec
🤷♂️
Possibility of a rally into latter part of April shortly following by a significant move down to one of these levels:
- the 618
- the downtrend that began to form in Mar 24
- the support region 49-52k
Projected flight path for "trough" est. Jun-Jul 25
A new ATH is usually printed Nov-Dec of the year following the BTC halving event:
- Dec 2013
- Nov 2017
- Nov 2023
Conclusion (provided the uptrend is broken):
- Rejection late Apr
- Trough in Jun
- New ATH Nov/Dec
🤷♂️
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Disclaimer
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.