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The chart you've shared compares Bitcoin's price action in October 2023 and October 2024. Here are the key observations: 1. **October 2023 (Left chart)**: - There was a 7.2% correction before a substantial rally. - The price surged by 32.9% following the correction, indicating strong bullish momentum. 2. **October 2024 (Right chart)**: - A similar pattern is visible, with a correction of 6.5%. - The chart seems to suggest the potential for a similar rally, though the move hasn't fully played out yet compared to the 2023 action. ### Takeaway: The comparison hints at a recurring pattern, where after a notable correction, Bitcoin historically tends to see significant rallies in October. If the 2024 pattern mirrors 2023, another strong upward move could follow the current correction, potentially setting the stage for further price gains. This analysis could support a bullish outlook, especially if the historical trend continues to repeat.
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The image shows three different Bitcoin halving events: 2017, 2021, and the upcoming 2024 event. The chart compares the price behavior 224 days before and after the halving event in each of these years. Here's the analysis: 1. **2017 Halving Event**: - Before the halving, Bitcoin experienced a significant price increase. - Post-halving, there was a sharp correction and downward trend that lasted for some time before the price started recovering. 2. **2021 Halving Event**: - Similar to 2017, there was a price increase leading up to the halving event. - After the halving, Bitcoin experienced a strong drop again. The correction appears steep before any signs of recovery occurred. 3. **2024 Halving Event (Projection)**: - The chart shows Bitcoin is steadily rising as we approach the 2024 halving, but without the sharp rise seen before the previous two halvings. - The expectation based on past trends seems to be a potential correction after the halving event, but it's too early to predict the magnitude. ### Key Takeaways: - In both 2017 and 2021, Bitcoin's price increased leading up to the halving but dropped significantly soon after. - 224 days after the halving tends to mark a correction or recovery phase. - The 2024 halving appears to follow a more gradual increase leading up to the event, which might indicate a smoother correction or different market dynamics this time around. Given that you've mentioned the upcoming halving in your prior conversations, this chart suggests a potential pattern you could be watching closely to time market entries and exits based on previous halving cycles.
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