Bitcoin's Bull Run and the Anticipated Correction: A Strategic F
Bitcoin's price is on the rise, and it looks like it might reach somewhere between $48,000 to $50,000 soon. People are excited, but smart traders are watching closely. They know that when a new Bitcoin ETF starts, it might cause a big change. The saying 'buy the rumor, sell the news' means that people often buy before a big announcement and sell right after, taking their profits.
We're also seeing signs that the price might not keep climbing forever. The RSI, which is like a speedometer for price momentum, is showing that the price is going up but the energy behind it is slowing down. This usually means we might see the price start to drop a bit soon, which we call the fourth wave.
But there's a bigger event coming – the Bitcoin halving, when the reward for mining new Bitcoin gets cut in half. This usually leads to an even bigger price change. After this drop or 'correction', we expect the price might start going up again in what we call the fifth wave.
We're also seeing signs that the price might not keep climbing forever. The RSI, which is like a speedometer for price momentum, is showing that the price is going up but the energy behind it is slowing down. This usually means we might see the price start to drop a bit soon, which we call the fourth wave.
But there's a bigger event coming – the Bitcoin halving, when the reward for mining new Bitcoin gets cut in half. This usually leads to an even bigger price change. After this drop or 'correction', we expect the price might start going up again in what we call the fifth wave.