Bitcoin Price Mapping Before Halving. You Ready?
Hi guys, I will present my ide for BTC in this last month or the 3rd quarter in 2023, and how Bitcoin potentially move up and down prior to Halving
First, at the current price, Bitcoin is holding its horizontal level as the bear failed to break it down. Supported by oversold RSI indicator, Might be safe to say that this area is a good one to DCA.
On the other side, Bitcoin had broken the trendline drawn, so there is a chance that the uptrend formed since the start of 2023 will shift to bearish trend.
If that happens, I would project that Bitcoin will go down to 20k USD, the "Good buy" zone, the previous ATH, the resistance-turned support. Probably bull run will start after Bitcoin visit that price.
However, if we look at the weekly timeframe, the support is around 16k. If BTC really goes there, would you dare to buy?
Overall, I still stay away from the market due to extremely low volume compared to 2022
First, at the current price, Bitcoin is holding its horizontal level as the bear failed to break it down. Supported by oversold RSI indicator, Might be safe to say that this area is a good one to DCA.
On the other side, Bitcoin had broken the trendline drawn, so there is a chance that the uptrend formed since the start of 2023 will shift to bearish trend.
If that happens, I would project that Bitcoin will go down to 20k USD, the "Good buy" zone, the previous ATH, the resistance-turned support. Probably bull run will start after Bitcoin visit that price.
However, if we look at the weekly timeframe, the support is around 16k. If BTC really goes there, would you dare to buy?
Overall, I still stay away from the market due to extremely low volume compared to 2022