Bitcoin, A long term overview!

Let's take a look at Bitcoin in 1D chart, a long term overview of the possible bitcoin moment for upcoming weeks.

Recently Bitcoin is showing more bullish momentum and everyone is optimistic towards the bull run. However as we have seen the past, a proper bull run starts after the Bitcoin halving. Whatever the momentum that we are seeing now is just a preparation for the real bull run which is expected after the bitcoin halving (which is expected around April 2024) and we are going see new ATH for bitcoin in end of 2024 or beginning of 2025

Let's see what we can expect in the upcoming weeks.

As expected we can see some consolidation of the bitcoin pricing around the current resistance around 27-30K. Breaking 30k barrier will add some positive sentiment to the market and we can expect some consolidation after breaking 30k.

If the positive sentiment continue we can expect bitcoin to rally towards it's next major psychological resistance of40K.

I believe run from 30K to 40K will be a smoother one and should be achieved within a month.

Overall i'm bullish on the overall bitcoin pricing expecting it to reach 40K within next 4-8 weeks.
Once we reach 40k, it's hard to reach 50K barrier and we can some downtrend after that.

For now let's wait and watch for 40k target and enter some low leveraged trades on Bitcoin with Stoploss around 23k range.

Cheers!