Bitcoin Price Analysis: 2024 ideas
Price Projections:
Anticipating Bitcoin's price to range between $30,000 and $50,000 until the end of 2024.
In case of a dip below $30,000, expecting potential support levels at $27,000 or $24,000.
Halving and Support Levels:
Recognizing the significance of halving events, expecting a higher support level than the commonly noted $24,315 due to bullish sentiments.
Emphasizing the importance of timing and previous cycles in determining support levels.
Institutional Influence:
Suggesting that institutions aim to push the price down pre-bull run to accumulate for ETFs, potentially resulting in a flush of long positions.
Market Behavior:
Observing historical trends where price often dips prior to significant bull runs, allowing accumulation by institutions and smart money.
Drawing a channel diagonal to illustrate reaction points, timing related to halving events, and support levels.
Anticipating Bitcoin's price to range between $30,000 and $50,000 until the end of 2024.
In case of a dip below $30,000, expecting potential support levels at $27,000 or $24,000.
Halving and Support Levels:
Recognizing the significance of halving events, expecting a higher support level than the commonly noted $24,315 due to bullish sentiments.
Emphasizing the importance of timing and previous cycles in determining support levels.
Institutional Influence:
Suggesting that institutions aim to push the price down pre-bull run to accumulate for ETFs, potentially resulting in a flush of long positions.
Market Behavior:
Observing historical trends where price often dips prior to significant bull runs, allowing accumulation by institutions and smart money.
Drawing a channel diagonal to illustrate reaction points, timing related to halving events, and support levels.
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