Bitcoin Should Have Closed This Week Above 42500 USD

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(Edited)

After ETF new released, Bitcoin price went down from 48K to 38K. Even It was on 38K USD this week, Bitcoin price went up in a few days and hit 42500 USD. It is important level for Bitcoin price to continue bullish trend.

I shared lots of analysis and said I was waiting for downtrend on Bitcoin price before halving. ETF news was hype to sell for whales. We may see bearish trend for a few months on Bitcoin price chart.

Here you can see weekly chart of Bitcoin price. It is very important to see Bitcoin price above 42500 USD after closing of week. You can see 8-week moving average. Bitcoin price should close the week above this average..

8-week is important to see midterm trend. Bitcoin should stay above this moving average..

I shared and analysis and said It may be a fake move to drop form 48K to 38K. There was support line coming from October 2023 and Bitcoin broke down this week. After breking down, Bitcoin price went up and is above this support line now.

The middle line of Bollinger Band on Weekly chart of Bitcoin is great support. It is about 36K USD now and will support in negative scenario. If this is not fake move, Bitcoin price may hit 36K USD.

There are bullish and bearish scenarios on Bitcoin price chart. We may see slow drop on Bitcoin price chart until halving.

We will see..

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Posted Using InLeo Alpha

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You predicted some days ago that BTC will drop and that you will stop trading which worked out as predicted.
When is Bitcoin halving? I guess it should be around April.

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