Possible Bitcoin price action in short term
Updated
Hi everyone,
Bitcoin price set new all time high. This is the first time in Bitcoin history when its price set new all time high before halving.
There are few things I would like to point out regarding future price action on Bitcoin.
First thing to notice here is that if we look in the history Bitcoin always began parabolic rise when its price broke previous all time high. There is high chance that we might see something similar this time too.
Second thing to look at is upcoming halving. Since Bitcoin price already set new all time high before halving now is a question how its price will behave after the halving in short term. In the previous cycles Bitcoin price corrected after halving and didn't rise immediately. Usually it took couple of months after halving to start parabolic rise.
Last thing I would like to point out is that even on strongest bull market Bitcoin price could go in correction phase on 40% or even 50%. Since we're in unknown territory at the moment and nobody knows for sure where local top will be, just be cautious and remember that Bitcoin might surprise all of us.
Please, do not forget to boost this idea & share it with your friends; thanks.
Bitcoin price set new all time high. This is the first time in Bitcoin history when its price set new all time high before halving.
There are few things I would like to point out regarding future price action on Bitcoin.
First thing to notice here is that if we look in the history Bitcoin always began parabolic rise when its price broke previous all time high. There is high chance that we might see something similar this time too.
Second thing to look at is upcoming halving. Since Bitcoin price already set new all time high before halving now is a question how its price will behave after the halving in short term. In the previous cycles Bitcoin price corrected after halving and didn't rise immediately. Usually it took couple of months after halving to start parabolic rise.
Last thing I would like to point out is that even on strongest bull market Bitcoin price could go in correction phase on 40% or even 50%. Since we're in unknown territory at the moment and nobody knows for sure where local top will be, just be cautious and remember that Bitcoin might surprise all of us.
Please, do not forget to boost this idea & share it with your friends; thanks.
Note
Bitcoin price just dumped almost on 10% in 24 hours.Note
Bitcoin price continue to decline and already tested 63k.If BTC price drops under 59k then we might see 52k but 59k is a strong support so I don't think that BTC breaks it from the first attempt.
Note
Bitcoin price back above 70k and if it manages to sustain this level then for the first time in the history halving will happen above previous ATH.I remind that the next Bitcoin halving is expected on the next week.
Note
Bitcoin halving happened and now we have to wait for parabolic rise.In order to do it Bitcoin price should rise above 73k.
Once we close weekly candle above 73k then we can expect parabolic rise above 80k.
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