The recession may affect normal recovery patterns.
The dynamics of Bitcoin's price after halving follows the trend of 2015-2017 very closely. The #cryptocurrency , which previously reached a high of 61,000 pounds, fell from 4 to 49,000, a 20% drop. Past trends indicate that this has happened in previous cycles, shaping current market expectations.
In the second half of 2016/7, it fell 27% after a half cycle, but the price eventually recovered and hit a record high. I have repeated this pattern again, only this time with a difference in time and degree. Nevertheless, #MarketDownturn is expected to recover, continuing to follow the expected pattern of the previous cycle.
At the moment, Bitcoin has strong resistance at 73,800, but has failed to exceed 7,70,000 several times. This resistance is supported by the data that several bitcoin wallets hold around 3.75 million #MarketDownturn in the price range of $62,344.91 to $72,500, which is an important #threshold for price fluctuations.
In addition, since the last half of the year, the price of the asset has fallen by 26%, which is in line with the previous decline seen between 2015 and 2017. These levels have attracted a lot of attention from market analysts, and overcoming them could signal a new price rise.
The bitcoin recently filled a large gap on the Chicago Mercantile Exchange (CME), indicating the potential for a change in market trends. This gap between 59,400 yen and 662,550 yen indicates a lack of trading activity. Typically, its filling means that prices are trending higher.
Analysts note that the closing of such gaps often precedes market reversals and indicates to investors the possibility of future changes.
several more gaps have been identified, which means the possibility of greater short-term volatility. Traders see these gaps as an important tool for predicting the next bitcoin price change.
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