WILL BITCOIN CONTINUE ITS RALLY? | BTC PRE-HALVING ANALYSIS
BITCOIN rally is fueled by the ETFs, It made easy for the institutions and wealth channel to access BTC for the very first time
After making a new ATH, BITCOIN corrected it move to the $60,750, level making a new HL
Currently BTC may remain in the consolidation zone between the $58,000 and $73,000 prices. On the $73,500 BTC is facing a massive sell pressures which indicates that BEARS are selling on the higher levels, BTC dropped almost 20% after making its new ATH and then again got accumulated on the $60,750 level which indicates that BULLS are trying to buying every dip and haven't given up to push the price much higher before halving
According to the FIXED RANGE VOLUME PROFILE, we have the high BUY & SELL pressures on the price of $67,500 which we calls the Point Of Control POC, If we closes below the POC on 4H TF then there is a high probability that price could continue to move downwards to the level of $58-61K
Contrarily, If we retest the POC ($67,500) and respects it, then there is a high probability that price could go higher to $72K and most probably to
73K
again
In short, BEARS are commanding at $73,500 and BULLS are commanding at $58-61K
When both THE BULLS and THE BEARS defends their desired levels then market just goes into the CONSOLIDATION PERIODS just as in BTC right now
Also I wouldn't be surprise If BTC loses the $58K and gets to the $50K or more lower in worst case, just because there is DUMP a Post-Halving DUMP is left in the corner and I would be accumulating more BTC on each DUMP as you would never get these BTC prices ever after 2024-WISE OPINION
Trade accordingly!
Best Regards,
HAZIQKHANTRADES
After making a new ATH, BITCOIN corrected it move to the $60,750, level making a new HL
Currently BTC may remain in the consolidation zone between the $58,000 and $73,000 prices. On the $73,500 BTC is facing a massive sell pressures which indicates that BEARS are selling on the higher levels, BTC dropped almost 20% after making its new ATH and then again got accumulated on the $60,750 level which indicates that BULLS are trying to buying every dip and haven't given up to push the price much higher before halving
According to the FIXED RANGE VOLUME PROFILE, we have the high BUY & SELL pressures on the price of $67,500 which we calls the Point Of Control POC, If we closes below the POC on 4H TF then there is a high probability that price could continue to move downwards to the level of $58-61K
Contrarily, If we retest the POC ($67,500) and respects it, then there is a high probability that price could go higher to $72K and most probably to
73K
again In short, BEARS are commanding at $73,500 and BULLS are commanding at $58-61K
When both THE BULLS and THE BEARS defends their desired levels then market just goes into the CONSOLIDATION PERIODS just as in BTC right now
Also I wouldn't be surprise If BTC loses the $58K and gets to the $50K or more lower in worst case, just because there is DUMP a Post-Halving DUMP is left in the corner and I would be accumulating more BTC on each DUMP as you would never get these BTC prices ever after 2024-WISE OPINION
Trade accordingly!
Best Regards,
HAZIQKHANTRADES