Bitcoin nears key $75,808 resistance, potential breakout could boost bullish trend.
2024 halving could trigger price surge as supply reduction impacts Bitcoin’s scarcity.
RSI suggests short-term pullback, while MACD signals continued upward momentum.
Bitcoin’s price is in a critical phase of its bull market cycle. Analyst Peter Brandt says to watch key levels as the cryptocurrency reaches for its peak, expected between $130,000 and $150,000 by late 2024.
Bitcoin’s price has moved in cycles tied to its halving events, which reduce mining rewards and often cause supply scarcity. Current charts show Bitcoin is near a resistance point, with technical indicators that suggest the bullish momentum will continue.
Bitcoin $BTC is now in the sweet spot of the bull market halving cycle that should top in the $130k to $150K range next Aug/Sep. I measure cycles differently than most. For background see link here: https://t.co/XWxS0kT4pO pic.twitter.com/3oDYzIQf69
— Peter Brandt (@PeterLBrandt) November 6, 2024
Resistance Levels: Bitcoin Nears $75,808 Barrier
Bitcoin’s immediate challenge lies at a resistance level near $75,808, a level that has historically …
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