đBTC
The chart from rektcapital on TradingView highlights Bitcoinâs (BTC) price behavior around its halving events. It compares the post-halving price action from the May 2020 halving to projections for the upcoming April 2024 halving.
2020 Halving Analysis:
âą Halving Date: May 11, 2020
âą Post-Halving Re-Accumulation: Bitcoin experienced a re-accumulation phase lasting 161 days (23 bars) with a minor price decline of 19.56%.
âą Parabolic Upside: This phase was followed by a significant price increase, highlighted in green, indicating a strong bull market.
2024 Halving Projection:
âą Upcoming Halving: Expected on April 15, 2024
âą Post-Halving Re-Accumulation: The chart predicts a similar re-accumulation phase lasting 154 days (22 bars) with an expected price correction of 23.86%.
âą Future Upside: Following this phase, another significant price surge is projected, mirroring the previous post-halving behavior.
Technical Indicators:
âą Support and Resistance: Key levels are marked by horizontal red lines, showing areas of historical price consolidation.
âą Trendline Support: An ascending black trendline indicates long-term bullish momentum.
This analysis suggests that historical patterns around halving events may repeat, providing insights into potential future price movements for Bitcoin.
#btc70k #BinanceLaunchpool #freesignals #freesignal #FreeSignalđ„
