Bitcoin Breakout Soon (April-May 2024)
I'm fairly certain we are about to have a BTC breakout. Bulls have successfully defended 60k for ~2 weeks now and we are about to move into (arguably) the two most important BTC and crypto months of all 2024. The halving is coming up. ETH ETF decision should bring some volatility- despite approval or not. The past 2 weeks have been an incredibly healthy correction from the run up to the ATH.
Do I think it's possible we break down to $59-56k? Yes. But in this scenario I imagine it being fueled by FUD and will be bought back up fairly quick. If this scenario plays out, just based on overall current sentiment, I could see investors viewing this as incredibly bullish and we continue on with this cycle's uptrend.
There is a chance we continue to chop/crab for a bit longer- but I would guess that only lasts 1-2 more weeks at best. As we get closer to the Halvening, I find it incredibly unlikely we see a big sell off. This is not an uncommon opinion- I think many reading this would agree with me. Could we go up and see a bit of uncertainty as the Halvening date crosses? Of course. But based on the current trend, sentiment, and overall blockchain/crypto ecosystem, I don't see how we continue downwards through April and May. I see loads of potential in these next two months.
Good luck traders! But even more luck to the HODLers!
Do I think it's possible we break down to $59-56k? Yes. But in this scenario I imagine it being fueled by FUD and will be bought back up fairly quick. If this scenario plays out, just based on overall current sentiment, I could see investors viewing this as incredibly bullish and we continue on with this cycle's uptrend.
There is a chance we continue to chop/crab for a bit longer- but I would guess that only lasts 1-2 more weeks at best. As we get closer to the Halvening, I find it incredibly unlikely we see a big sell off. This is not an uncommon opinion- I think many reading this would agree with me. Could we go up and see a bit of uncertainty as the Halvening date crosses? Of course. But based on the current trend, sentiment, and overall blockchain/crypto ecosystem, I don't see how we continue downwards through April and May. I see loads of potential in these next two months.
Good luck traders! But even more luck to the HODLers!
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