Research on BTC Price Action and Trends
!! IMPORTANT !!
1. BTC and the 2020 Halving:
In 2020, during the Bitcoin Halving event, BTC maintained a bullish trend and did not fall below its 50-week Moving Average (MA 50) support level.
After reaching a high of 64,000, BTC touched its MA(50) at 28,989 and rebounded without breaking below it until December 2021.
2. BTC Price Movement in 2021:
After December 2021, BTC broke below the MA(50) on the weekly chart, resulting in a downward trend that led to a low of 16,000.
3. Current Support Levels and 2024-2025 Outlook:
For the upcoming 2024-2025 period, it is anticipated that BTC will not drop below the 52,700 range because the MA(50) support level is at 52,771 and is currently rising each week.
BTC currently has strong support at 57,499. If BTC breaks below 57,471, there is a chance it could touch the MA(50) again.
4. Bullish Projections for 2024-2025 Halving Season:
After potentially touching the MA(50) support, BTC is expected to rise for three consecutive months during the 2024-2025 Halving period.
With the ETF approval season in play, projections suggest that BTC could surge from 94,000 to 105,000 during this period.
Disclaimer:These are just my thoughts based on technical analysis. Please conduct your own research before making any investment decisions.
WALKERâ€ïž ( READ CAREFULLY & TAKE DECISIONS AT YOUR OWN)
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