BTC/USDT UPDATE: #BTC is now trading around 68.7k. Bitcoin h | Leo signals on Binance Square

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BTC/USDT UPDATE:#BTC is now trading around 68.7k. Bitcoin has broken down an uptrend channel on hourly time frame. So the Possible scenario is According to the pattern, we can see short term bearish momentum in it. Stay tuned with us for further updates✔️

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The chart you provided appears to show a comparison between Bitcoin's price movements in October 2023 and October 2024, specifically highlighting similar patterns of correction and subsequent upward trends. Here’s a breakdown of the key points in your chart: ### October 2023 (Left Chart): - **7.20% Correction**: The chart indicates that before the significant upward movement, there was a 7.20% correction. - **Rally**: Following this correction, Bitcoin rallied by 32.99%, rising by approximately $8,757.67 to reach new highs, moving from around $28,000 to over $37,000 in a short period. ### October 2024 (Right Chart): - **6.50% Correction**: The chart for October 2024 shows a similar downward correction, with Bitcoin dropping by 6.50%. - **Potential Rally Zone**: There is a highlighted section that seems to indicate the possibility of another significant rally similar to 2023. The projected price range appears to be from $60,000 to around $75,000 or higher. ### Key Similarities: - **Correction and Rally Pattern**: Both charts show a correction followed by a strong upward movement, suggesting that history might be repeating itself. - **Percentage Movements**: The correction percentages are similar (7.20% in 2023 and 6.50% in 2024), implying that the current drop might also be a precursor to a strong rally. ### Potential Implications: If the pattern from October 2023 repeats, there may be a strong bullish move in October 2024 after this correction. The highlighted area seems to suggest the price could climb significantly, potentially exceeding $75,000. It seems this comparison might be hinting at the possibility of a similar bullish breakout based on historical data, suggesting the user should be attentive to market signals for a potential upward movement in the near term.

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The image shows a comparison between Bitcoin price movements before and after previous halving events in 2017, 2021, and a projection for 2024, with a focus on the 224 days leading up to the halving. ### Key Points: 1. **224 Days Preceding the Halving**: - The chart highlights the period 224 days before each halving, showcasing a trend of price accumulation or minor rallying in the lead-up. - In 2017 and 2021, this period saw an upward price trend followed by a sharp pullback right around the halving. 2. **2017 Halving**: - In the lead-up to the 2016 halving, Bitcoin experienced steady growth until just before the event, where a pullback occurred. Afterward, a major bull run followed within months. 3. **2021 Halving**: - Similarly, the 2020 halving saw a pre-halving price rally followed by a sharp correction. After this, the price saw significant upward momentum in the months that followed, culminating in the 2021 bull market. 4. **2024 Projection**: - The chart for 2024 shows a similar trend emerging, with Bitcoin currently experiencing steady growth leading up to the halving. The 224-day mark indicates we are in this crucial accumulation phase, similar to previous cycles. - There is potential for a similar correction after the halving, followed by a significant price surge, as seen in the prior cycles. ### Key Takeaways: - **Cyclical Behavior**: Bitcoin’s price movements before and after the halving events appear to follow a consistent pattern: a pre-halving rally, followed by a short-term correction, and then a major post-halving bull run. - **Current Phase**: According to the 2024 projection, Bitcoin is in the early stages of this pre-halving rally. The next few months could witness further upward movement, followed by potential volatility around the halving event. This analysis reinforces your strategy of carefully watching for fluctuations and preparing for the potential market volatility around the halving.

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A bull trap in the crypto market is a deceptive upward price movement that lures investors into believing that a cryptocurrency is beginning a sustained bullish trend. However, shortly after these investors enter the market, the price reverses and falls sharply, trapping them with potential losses. Here’s how a bull trap typically unfolds: 1. **Initial Downtrend**: The price is on a downtrend, but it suddenly reverses and shows signs of recovery, creating optimism that the bearish trend is ending. 2. **False Breakout**: The price rises enough to make traders believe that a new bull market is starting, and many investors buy in, hoping to catch the upward momentum. 3. **Reversal and Decline**: Shortly after these new buyers enter, the price reverses direction sharply, resuming the downtrend and trapping them in losses. Bull traps are common during bear markets when temporary upward movements can mislead investors. To avoid bull traps, traders often look for confirmation signals, like high trading volume and strong support levels, before fully committing to a bullish position.

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In the early days of crypto, altseason felt like a rising tide that lifted all boats. Back in the 2017-2018 cycle, the market wasn’t crowded with thousands of coins, derivatives trading on alts was rare, and altcoins typically traded in Bitcoin pairs. When the market saw bullish sentiment, nearly everything moved up together. It was a unique time, with many altcoins experiencing meteoric rises just because they were in the right place at the right time. Today’s market is far more complex, and that broad-based, across-the-board surge just doesn’t happen anymore. Instead, we see money rotate quickly, as traders chase high returns in hot trends, like meme coins or new blockchain ecosystems. Narratives shift quickly — what’s in favor today might be forgotten tomorrow. Large accounts promoting the idea of another massive altseason are, in many cases, capitalizing on nostalgia, fueling unrealistic expectations for gains that may never come. The current environment demands a different approach: adaptation, research, and trend-spotting. Those who succeed now are the ones who actively track the hottest narratives, identifying opportunities in specific sectors rather than waiting for a generalized altcoin boom. The market now rewards traders who pivot quickly and recognize emerging trends with staying power, whether it’s Layer 2 scaling solutions, AI-integrated blockchain projects, or specific DeFi niches. So, if you’re still holding out for a 2017-style altseason, it may be time to let go of that idea. The market has evolved, and broad, indiscriminate pumps across all alts are unlikely to return. Thriving today means getting sharp, putting in the work, and staying agile

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