#BTC    On the surface, Bitcoin appears to be forming a po

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#Bitcoin    Break Out Is Loading $BTC Is Currently Forming A Falling Wedge pattern In Lower Timeframe, Which Can be Bullish. If It Breaks Toward The Upside, We Will Test $67,000 First. Let’s Pray For All-Time Highs.

3 Phases of The Bitcoin Halving

#BTC    When Could Bitcoin Breakout From This Re-Accumulation Phase? Bitcoin tends to develop a Re-Accumulation Range around the Halving Historically, Bitcoin would consolidate in this Re-Accumulation Range for up to 150 days after the Halving before finally breaking out into Parabolic Upside If Bitcoin were to consolidate for the next 150-days or so, then that would mean that Bitcoin would only breakout in September 2024 How Long Could Bitcoin Consolidate After The Halving? But how long would an ideal Re-Accumulation Range last? When Bitcoin reached a new All Time High in mid-March, this meant that Bitcoin was accelerating in its cycle by 260 days But since Bitcoin has consolidated for over the past 49 days, this acceleration has now dropped to 210-days or so If Bitcoin were to repeat history and consolidate in this Re-Accumulation Range for a total of 150 days after the Halving... This would still mean that Bitcoin is accelerating in this current cycle but to a lesser extent and only by 60 days Bitcoin Needs To Consolidate Much Longer To Resynchronise With Traditional Halving Cycles For Bitcoin to fully resynchronise with historical Halving Cycles however, Bitcoin would need to consolidate after the Halving for more than 150 days In fact, ideally it would need to consolidate for at least 210 days in the Post-Halving period in total, as that would bring the rate of acceleration to 0 days An over 200-day Post-Halving consolidation would see Bitcoin breakout sometime in November 2024 Bitcoin Would Need To Repeat Its mid-2023 Range To Achieve An Over 200-Day Post-Halving Consolidation In mid-2023, Bitcoin formed a Re-Accumulation Range which lasted for 224 days before Bitcoin broke out into a new uptrend For Bitcoin to fully resynchronise with its historical Halving Cycles and reset current acceleration in this cycle to 0... Bitcoin would ideally need to replicate this mid-2023 224-day Range Bitcoin has shown it can produce a range like this however it did so in the absence of fundamental catalysts like the ETF and Halving

Why #Bitcoin    Is Dumping? 1) In historical Bitcoin market cycle, BTC always corrects after the halving. So we are now seeing correcting and price consolidation after a massive pump from $15k to $73k 2) GDP came lower than expected Just an hour ago, US GDP projections came at 1.6% while the expectations were of 2.5% Low GDP data ignites fear of recession which dumped S&P 500, NASDAQ and crypto 3) Biden tax proposal Yesterday, Biden proposed the highest capital gains tax in history at 44.6%. His proposal also includes a 25% tax on unrealized gains for high-net-worth individuals. In the past, whenever there is such a proposal the market has dumped and the similar thing is happening now 4) Israel situation Yesterday, Israel struck 40 Hezbollah sites in South Lebanon As usual, Bitcoin started pricing in a war again which resulted in immediate dump What's next for the market? Low GDP numbers are actually bullish for the market as it will push the FED to do rate cuts After the recent inflation data, it was expected that the rate cuts could be delayed but with the GDP numbers, the probability of rate cuts will increase again IMO, BTC support at $60K is still very strong with a lot of buy orders If there's a black swan event, BTC could go lower a bit more which will be a golden buying opportunity. Hit like if you found this helpful

#BTC    The Bitcoin "Danger Zone" The Bitcoin Pre-Halving "Danger Zone" (orange) is where historical Pre-Halving Retraces have begun Historically, Bitcoin has performed Pre-Halving Retraces 14-28 days before the Halving This cycle was no different and here's why: Because Bitcoin experienced its first -18% Pre-Halving Retrace approximately 30 days before the Halving History repeated in that respect In fact, in 2016 Bitcoin began its Pre-Halving Retrace 28 days before the Halving and in 2024 it was 30 days before the Halving This 2024 closely mirrored the 2016 in this respect Which is why it is perhaps worth looking at a possible Post-Halving "Danger Zone" (purple) The Post-Halving "Danger Zone" In 2016, Bitcoin produced a long -11% downside wick approximately 21 days after the Halving before reversing towards the upside Bitcoin is currently 6 days after the Halving But 2016 history suggests that if downside volatility around the Re-Accumulation Range Low (green horizontal level) is going to occur in this cycle... It could occur over the next coming 15 days (i.e. purple "Danger Zone") The purple Post-Halving "Danger Zone" ends in 15 days but 2016 history suggests that in the meantime downside volatility at the $60600 Range Low is a possibility $BTC #Crypto #Bitcoin   

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