In the short history of bitcoin, its price usually pumped two times before the halving. I think many people currently focus too much on 2019/2020, which could be recency bias. I see 2020 as an outlier where the second pre halving pump was interrupted by a black swan event.
See yourself how bitcoin first rallys from the bear market lows and then has another leg before the halving.
2012
2016
2020
So I think higher prices are more likely than lower.
In case the price drops below 24k, I would expect a 2nd pump just from a lower level around 19k-21k.
See yourself how bitcoin first rallys from the bear market lows and then has another leg before the halving.
2012
2016
2020
So I think higher prices are more likely than lower.
In case the price drops below 24k, I would expect a 2nd pump just from a lower level around 19k-21k.
Note
looks good so far but i think it will be a ride on disbelief with some pullbacks inbetween. the target remains around 46k over the next months.Note
The btc price is moving like a magnet to the target, just faster than expected. Not complaining about it tho.Note
looks like btc is ready to make its move towards 46k, weekly, daily and 2h all turned bullish.Note
2h failed, seems like btc needs more time and we need more patience. once 38k breaks, btc should accelerate.Note
i am starting to think that if 38k breaks there is a chance to see a bigger rally than 46k because this 2nd pre-halving rally has the halving and etf being frontrunned vs just the halving in previous cycles so it could look something like this:Note
I think the 46k target is too low because like 2020 covid was an outlier to the downside, the etf is an outlier to the upside. Imo its more likely to go to ath before the etf which is likely to come on January 10th.new idea is here:
Note
this idea reached the target. but this was before the etf news. so btc reached its target for the 2nd pre halving rally which should also have happened without the etf.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.