BTC Halving Bitcoin
Weekly analysis of BTC according to April and May:
BTC generally experiences price consolidation between April and May in recent years. If a sharp decline occurs in the third week of April (59634-55261), the market typically responds with two weeks of green movement between the last week of April and the first week of May. Then, it follows a period of ups and downs until the end of May, and the bull period influenced by halving begins. BTC usually completes its bull peak approximately 1.5 years after the bottom level, increasing by 10-20 times, and then enters a bear market.
If BTC closes the third week price as a doji (a thin candle with balanced buying and selling pressure), there is usually a decline until June 19th or July 19th, followed by the expected bull rise (bull influenced by halving after June 17th-July 22nd).
When evaluating BTC price:
73794-65046-59634 range:
Currently, 59634 is an important support level. As long as it stays above this support, we can expect the price to fluctuate between 59-65 thousand. Moving the price to the 65046-73794 range could start the bull period influenced by halving early.
59634-55261-50887 range:
50887 is a strong support level, and unless this support is broken, there won't be a concerning scenario. Even if it is broken, it would mark the beginning of the rise from the bottom of the bull period after June/July, which will continue until April 2025.
BTC generally experiences price consolidation between April and May in recent years. If a sharp decline occurs in the third week of April (59634-55261), the market typically responds with two weeks of green movement between the last week of April and the first week of May. Then, it follows a period of ups and downs until the end of May, and the bull period influenced by halving begins. BTC usually completes its bull peak approximately 1.5 years after the bottom level, increasing by 10-20 times, and then enters a bear market.
If BTC closes the third week price as a doji (a thin candle with balanced buying and selling pressure), there is usually a decline until June 19th or July 19th, followed by the expected bull rise (bull influenced by halving after June 17th-July 22nd).
When evaluating BTC price:
73794-65046-59634 range:
Currently, 59634 is an important support level. As long as it stays above this support, we can expect the price to fluctuate between 59-65 thousand. Moving the price to the 65046-73794 range could start the bull period influenced by halving early.
59634-55261-50887 range:
50887 is a strong support level, and unless this support is broken, there won't be a concerning scenario. Even if it is broken, it would mark the beginning of the rise from the bottom of the bull period after June/July, which will continue until April 2025.
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.