The halving event and technical support reinforce the 'buying the dips' approach in Bitcoin, influencing the broader cryptocurrency market. Bitcoin's corrective pattern, with strong support at the 61.8% Fibonacci retracement level, and the ability to absorb selling pressure post-events are notable factors driving market sentiment.
Bitcoin's price, albeit at $66,139, struggles to break above the 50-day moving average resistance, requiring a strong surge past $67,000 to counter prevailing bearish signals. Despite the halving event, Bitcoin's potential peaks and historical trends suggest a trajectory towards $100,000 by the end of 2024 and $150,000 in the upcoming year, reflecting a familiar pattern from past halving cycles.
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