Bitcoin dip below $40,000 yesterday which most people thought was going to be the support or lowest price of the market as we were all bullish after Bitcoin ETF got approval from the security & exchange commission. The price of Bitcoin has recovered to trading above $40,000 but it might dip again therefore I'm writing this thread to advice the forum members not to panic. I haven't been too long in the industry as I started my journey recently but during my research and comparing Bitcoin prices before and after the halving, I noticed Bitcoin has never crossed the ATH before the halving but many people are thinking it'll do that this year rather I noticed that it always dips before the halving and that what is happening to the market therefore we shouldn't not be alarmed, this is what happens always from the history of Bitcoin and history always repeats in the market. Lets be guided and don't lose faith as the market is only dipping not crashing.
You should have provided your analysis with a clear chart to make your explanation easy and simple for you explanation. $40k is a support but not a global support, it's a support of where many trading activities happen and it was a weak one for that matter, that's why it didn't last upto 24 hours before it broke.
There has been some information about Grayscale selling Billions of GBTC which were was deposited to Coinbase exchange and the markets react to it and not much buying pressure, that's too tell you that there is more coming, the support is weak and further sell off come later.
ETF hype finished, Blackrock and SEC has done their part of business, SEC has cashout for the forms and Blackrock is into business, it's left of Bitcoin to move on his own now which the hope remain the halving. I'm positive about April halving but don't be shock if nothing happened on that day. Because from MACD, we are going into sell zone of the market which might last for 2 months or even more depend on how fast we get out quickly, so tighten your belt very well.