The fourth Bitcoin Halving is about 5 months away (April 23rd,2023). In the past 2 halving's we have seen a decline in the price in the month(s) leading up to the event. Then, proceeding to have a rally to new All TIME HIGHs. It is my opinion, that any significant dip to the $17,000-$25,000.00 would be the last BEST opportunity to buy at the low prior to making ALL TIME HIGHs of approximately $220,000 within 1-2 years.
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We are about 2 months away from the 4th Bitcoin Halving! That being said, we have not experienced any downturn or change of character from bullish market structure to bearish market structure. We recently had a BoS or break of market structure (which is a confirmed continuation of bullish pressure).
So that leads me to this update. I have drawn a couple of scenarios in the following chart update.
Scenario #1 -->> Bullish pressure leads to new All Time Highs and confirms the next bull run.
Scenario #2 -->> The Bearish come in and change the bullish character of the market to Bullish character and we have the anticipated pull back. Just not at the price levels I was anticipating. In either scenario, I'm bullish. Scenario #2 just allowed for another buying opportunity at favorable prices before the bull run.
I bet on 1st scenario but will be happy if 2nd scenario wins
TraderHustle
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@fastprofittrader, The 1st scenario could be more likely with the BTC ETF's that were approved. That's a huge difference between the last 3 halving's and the 4th one with all the institutional money flowing into the space. So, it's a bit of a crap shoot. Either way, I'm bullish. If it dips, I'll take advantage of the opportunity. If not, that is fine with me as well.
MyCryptoParadise_Nathan
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It will be intriguing to see how Bitcoin's price behaves as the halving approaches.
TraderHustle
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@MyCryptoParadise_Nathan, Yes it will. We're only 2 months away which is closer than we think. So anything could happen between now and then.
crystal15
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nice. cheap btc
TraderHustle
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@crystal15, If is scenario 2 plays out, then yes...cheap BTC. If not, I hope you filled your bags. Lol. Even if you didn't, I like to use BTC as a leading indicator for ALT coins. So you could look at other coins that have good fundamentals behind them that aren't too expense to buy and load up.
crystal15
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@TraderHustle ya Allen Santana says lower so probably lower. he knows his stuff. you confirm this
TraderHustle
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@crystal15, I honestly don't know Allen Santana. I don't follow many people. But I would say that the 4th Halving does have one difference than the other 3 didn't...institutional buying because of the approved BTC ETF's. I'm honestly 50/50 on which way it will go. I'm just prepared if we do have a dip, that it will be the last best opportunity to buy at the best favorable prices before the bull run. If we don't, then I'm bagged up and ready to ride this bull run. Either way, I'm bullish.
crystal15
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@TraderHustle yea me too. I don't follow more then 10 people. Allan is my go to. check him out.