Bitcoin Critical Update and Warning of Pre-Halving Sell-Off

Greetings,

Detailed analysis will be forthcoming. In the interim, please examine the provided chart; a full description will follow shortly.

Discussion points include:

1. Proximate Internal Supply Zone (High-Risk Area)
   
2. Handle Formation Target
   
3. Pre-Halving Sell-Off Pattern Analysis
   
4. Strategic Accumulation Area
   
5. Completion of the Cup & Handle Formation
   
6. Potential Trajectories A & B
   

In the meantime, please share your interpretations of the chart and engage with us. Your likes are appreciated as they endorse our research.

Thank you.

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2. HADNLE FORMATION TARGET

Our forthcoming update pertains to the handle's price target, which is projected to be in the vicinity of the $40,343 level.

In an unexpected turn of events, the market experienced a significant sell-off, with the decline halting at this support zone after initiating what appeared to be a deceptive rally, followed by a downward misdirection.

Currently, we have identified two instances of market deception, commonly known as 'fakeouts'. Upon closer examination of these fakeouts, it is observed that the upward fakeout is more robust, substantiated by the primary bodies of the candles.
It is advised to await further confirmation from the present candle's closure. Should it fail to close beneath the lower trendline of the existing mini triangle pattern, the bias for market direction remains bullish.

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We have clearer path now, as price finally regain its way above the upside area of the triangle. This is bullish.

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Immediate support level now changed to 44200 area. Keep holding and enjoying the bullish vibes.

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CRITICAL ALERT Update #1: Immediate Internal Supply Zone (High-Risk Territory)

Today marked the initial sharp reaction to this area, triggered by the unfounded news of an ETF approval. The price surged to 48,053 before facing a significant pullback. We will continue to monitor this zone closely, as it presents considerable risk for BTC.

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Next update will be on PRE-HALVING DROP. As we are 107days 5hours 10minutes away from the 2024 bitcoin halving.

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All ETF got approved. Very bullish news.

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