The fate of crypto in 2024
Updated
2023 has been a good year for crypto, and we are nearing the end of the year.
But what will happen in 2024? Will we encounter a bullish market like 2023?
Before drawing conclusions, there are several key levels that you need to know.
If you pay attention, during December Bitcoin tried hard to penetrate 44,376.
This level is very important, because Bitcoin's minor support is getting higher and this support also determines Bitcoin's future fate.
If I zoom out, this minor support comes from the bullish rally, since October.
Will this support last until the halving?
Let's unpack pre-halving history
December 02, 2012 Halving
105 days before the halving, minor support broke and returned to major support. And it happened again 56 days before the halving.
The interesting thing here is, the bullish key level was broken after the halving.
July 02, 2016 Halving
Several times minor support was formed, broke, and return to major support.
Bullish key level broken 176 days after halving
May 03, 2020 Halving
Several times minor support was formed, but failed, and touched major support 52 days before the halving.
Bullish key level broken 161 days since formation.
April 21, 2024 Halving
We are currently 115 days before the halving.
Is the minor support broken and Bitcoin returns to major support before the halving?
By looking at the history of previous halvings, does not rule out the possibility that 2024 will start with a sell-off, Bitcoin will return to major support at the $32,000 level.
But what will happen in 2024? Will we encounter a bullish market like 2023?
Before drawing conclusions, there are several key levels that you need to know.
If you pay attention, during December Bitcoin tried hard to penetrate 44,376.
This level is very important, because Bitcoin's minor support is getting higher and this support also determines Bitcoin's future fate.
If I zoom out, this minor support comes from the bullish rally, since October.
Will this support last until the halving?
Let's unpack pre-halving history
December 02, 2012 Halving
105 days before the halving, minor support broke and returned to major support. And it happened again 56 days before the halving.
The interesting thing here is, the bullish key level was broken after the halving.
July 02, 2016 Halving
Several times minor support was formed, broke, and return to major support.
Bullish key level broken 176 days after halving
May 03, 2020 Halving
Several times minor support was formed, but failed, and touched major support 52 days before the halving.
Bullish key level broken 161 days since formation.
April 21, 2024 Halving
We are currently 115 days before the halving.
Is the minor support broken and Bitcoin returns to major support before the halving?
By looking at the history of previous halvings, does not rule out the possibility that 2024 will start with a sell-off, Bitcoin will return to major support at the $32,000 level.
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Quick updateminor support broken, with channel down.
Next support level at $40571
Note
BTC try to break down bearish flag with strong candle,almost all cypto down too.
that's why the title of this analysis "The fate of crypto in 2024"
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quick update :BTC reach channel down resistance, bearish still continue to reach channel down support.
Dont forget to like/support this analysis to get quick notification if we have a new update. Thanks, happy trading ^^
Note
quick update :intraday resistance $42,588
intraday support $41,912
If channel down not broken and $41,912 pattern broken, the 3 drive pattern complete,
Next support at $40,794, with bullish target only at $42,588 resistance.
Note
Happy new year, hope next year will bring a lot of profit for all of us.maybe I'm not updating this analysis for next 24 hours, but if I found an important key level I will try to online and update as soon as I can.
Don't forget to support this analysis to get a quick update notification.
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quick update,BTC in the end of triangle pattern, if this support break down, another dump candle will reach 42727 or 41868
Note
its break up,. next target 45750
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quick update,BTC try to break ascending triangle with channel up pattern
If I zoom out,
Final target for this bullish at $45,778
but if ascending triangle break down, bearish target at $42,034
don't forget to support this idea for a quick notification in every update,
because im not posting new BTC analysis, but keep updating this analysis.
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bullish target reach, prepare for bearish with target at $43,729Note
I will update this analysis if I found a new keylevel.Trade active
bearish target reach,we have support at $40,107 if this support break down,.
prepare for next bearish to major support at $30,475
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