Quote from: Viscore on April 19, 2024, 05:55:59 PM

Quote from: rodskee on April 17, 2024, 04:33:36 AM

Quote from: kentrolla on March 29, 2024, 07:34:14 PM

In last two week we have seen a fluctuation in the price of Bitcoin as at one point it looked like it will drop to $50k but quickly it rebounded back and crossed $71k once again and now it just under $70k. What do you think would be the next zone, will Bitcoin rally towards the long awaited $100k mark or dip towards $50k? I know no one can speculate or predict it accurately but just share your thoughts with any valid reasons behind it.

Maybe this post is more appropriate to ask today as the halving is days before to happen and the
market is showing weak hold in each positions specially bitcoin so for me this might be the downfall, 50k
level is coming and we cannot assure our keeping and with that better be ready to what may happen
any time soon.

I wouldn’t be confident to say that this correction will lead to $50k or below. I still have high hopes that what is happening is just temporary. Bitcoin price may drop below $60k but it won’t crossed again $50k, as the current price is starting to recover again and is seen rising again until it crossed above $70k. Although $100k is quite difficult to reach these days, but most likely, bitcoin will settle at $80k when halving comes.

You may be right by Bitcoin not hitting or going below the $50,000 mark anymore this season, and my reason is that I've always believed that the asset will determine the fate that will be meted to it after halving. I read my chart very well and for now, it is biased towards the bullish path, this is even as Bitcoin has retraced so well before the halving. It is an opportunity that the halving met it at the ending time of the retracement which is a very good development for the bull lovers. However, I continue to see bullish price action on the higher charts which is a further encouragement that the asset could rise. This is coupled with the hesitation of the market to breach below the 1W Fibo support level level of 23.6% at $ $59,940. The level proved so significant this season and the fact that the market maintains a bullish price action above it means that it is on the bullish path, and it will likely go higher to hit again the year's ATH at about $73,850.

Also, to buttress the existing points, the important 1D Fibo level of 23.6% at $65,432 was successfully breached higher yesterday with the market having a daily close above it. These are important reasons for Bitcoin to move higher over time, and a breach of $73,850 can set it on a higher path that will cause the journey towards the much-expected level of around $100,000, but this will take time. Nevertheless, let's see how it behaves around the TrendMagic resistance level of $67,629. The breach of the level higher should be able to add credence to this positive development.