BTC Update: Key Levels and Market Outlook for Upcoming Weeks.Bitcoin (BTCUSD) currently holds a strong support level at $55,300. This key level presents a significant opportunity for potential gains. If the support at $55,300 fails, the next critical supports are at $52,000 and $48,500. Given the approaching bull run, we expect a bounce from these levels, particularly in Q4 2024 and Q1 & Q4 2025.
As with previous bull runs, we anticipate substantial volatility during this period. Remembering to exit the market around March or November 2025 is crucial, as the bull run is expected to conclude around this time.
Based on historical data and calculations, the Minimum target for Bitcoin in this bull run is $253,623. If Bitcoin flips the resistance at $253,623 by February 2025, we could see a maximum target of $275,780. Previous bull runs in 2013, 2017, and early 2021 exhibited unexpected price pumps, and we may witness similar volatility this time. While observing resistance zones, it's essential to keep trades active and plan to exit long positions by March or November 2025.
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