Macro Diagonal Resistance and the Pre-Halving Puzzle!

Despite recent recovery efforts, the historical narrative casts a shadow over Bitcoin's ability to breach the Macro Diagonal resistance in the pre-halving era. 📊

🕰️ Pre-Halving Puzzles:
History indicates that the road to shattering the Macro Diagonal resistance may encounter challenges during the pre-halving period. A puzzle that Bitcoin seems hesitant to solve at this juncture.

💥 Post-Halving Potential:
Hold on tight! The post-halving period emerges as the opportune moment for Bitcoin to break free. Historical trends suggest a promising outlook for BTC in this phase.

#BTC #CryptoChronicles #BitcoinResistance #TradeNTell #Write2Earn $BTC $AVAX $XAI

📊 IntoTheBlock, a cryptocurrency data analysis platform, reports that there's a concentration of 2.68 million BTC addresses with purchases around $43,400. These addresses collectively hold over 1 million BTC, and as volatility rises, they might sell their holdings at their average purchase price, potentially acting as resistance to BTC price increases. 📈💱 #BTCanalysis #BitcoinResistance 🚀📉

**Bitcoin's Next Resistance Level and UTXO Indicator**: CryptoQuant contributor SimonaD has highlighted Bitcoin's next important resistance level, which is the 2-3 year realized price of $46,500. This level represents the high point of the last cycle and is the average unit price at which investors bought Bitcoin during that time. In the event of a breakout, most holders will be in a profitable state. Additionally, the proportion of 2- to 3-year holders is 15.3%, indicating a considerable impact on the market if this resistance is breached. 🚀💰 #BitcoinResistance #BTCPriceAnalysis #CryptoMarkets

$BTC kicks off the week strong, trading at $67,245 and nearing all-time highs after a 12% weekly gain.
As #Bitcoin approaches its final resistance, all eyes are on whether it can hit new all-time highs, being just 8% away.

#BitcoinATH #bitcoinprice #BitcoinResistance #TrendingTopic

#Write2earn

Is the Downtrend Over?
#BitcoinResistance #BitcoinAnalysis #BTC

In the past couple of weeks, Bitcoin has experienced a roughly 9% decline, reaching up to 11% if we include Tuesday's dip to $64,000. Bitcoin holders are anxious to know if this marks the end of the current correction or if further declines are imminent.

Strong Buying Support at $64,000
As shown in the daily chart, Bitcoin's price closed below the $65,500 support level. For this to confirm a shift into resistance, Wednesday's candle must also close below this level. The wick down to $64,000 indicates robust buying support at this level.

Trend Line Support Is Critical
The weekly chart provides a clearer perspective. If Bitcoin can maintain support at $65,000, it will also be holding the upward trend line. A weekly close above this support is essential to confirm the trend remains intact. A break below this trend line could signal a more significant shift in market sentiment.

Major Fibonacci Support at $60,000
By drawing Fibonacci levels, we can pinpoint major support zones. Notably, $60,000 has acted as a support level in 7 of the last 16 weeks. If Bitcoin breaks below its current trend, $60,000 could also be breached, potentially leading to further declines to $52,000 and $46,000—critical levels before entering a bear market.

Bitcoin Entering Oversold Territory
Despite challenges such as miners selling after the halving, profit-taking by long-term holders, and hedge funds shorting on the CME exchange, a bounce seems likely. Bitcoin is approaching oversold territory on medium to higher time frames, which could boost upward momentum and potentially drive prices higher in the coming weeks.

Conclusion
While Bitcoin faces several headwinds, strong support at $64,000 and the potential for a bounce suggest that the recent downtrend may be nearing its end. Investors will be closely watching key support levels and trend lines to gauge Bitcoin's next move.