Bitcoin Bullmarket might have already ended
Bitcoins has not been really moving above the range of 55k-62k for a longer time now. Also Bitcoin broke below the crucial support at around 58k and is currently getting rejected from it on the weekly chart. I think the fed interest rate cut decision will be extremely important for Bitcoins midterm future. If the cut isn’t way higher than the expectations, Bitcoin will drop horribly. The decision could end the current bull market, furthermore because the strength of Bitcoin let loose a lot since the bit higher ATH. Bitcoin could retrace to 32k-42k. But Bitcoin could also break above the lying above resistances and continue the Bullrun that could finish at 120k in April 2025.
Bullrun continuation probability: 60%
Bullrun ending probability 40%
Bullrun continuation probability: 60%
Bullrun ending probability 40%
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.