2024

Millions

Bitcoin

Spectra

<p>According to crypto trader <a href="https://twitter.com/DavidOnCrypto_/status/1746775877399052395" target="_blank" rel="noopener noreferrer nofollow">David</a>, with the way the weekly candle closed last week, the theme for Bitcoin in the coming months will likely be “sideways and down” price action leading into the 2024 halving event. He notes key support levels between $31k and $28k that could be tested before any potential new all-time highs post-halving.</p>
<h2 class="wp-block-heading" id="strong-halving-cycle-more-potent-than-narratives-strong"><strong>Halving Cycle More Potent Than Narratives</strong></h2>
<p>Analyst Milkybull <a href="https://twitter.com/MikybullCrypto/status/1746782714798166232" target="_blank" rel="noopener noreferrer nofollow">echoes</a> this perspective: despite narratives around things like Bitcoin ETF approvals playing out, ultimately Bitcoin still follows the built-in halving cycles more than anything. Without an unforeseen black swan event, this cycle likely mimics the sideways chop for months before halving, followed by a renewed bull run afterwards through 2025.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="583" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-1024x583.png" alt="" class="wp-image-421082" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-1024x583.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-300x171.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-768x437.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-1536x874.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-2048x1166.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-264x150.png 264w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-615x350.png 615w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428-788x448.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-428.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Trader David suggests smart traders should view the potential further drawdown to $28k–$31k as a final “chance to load up on dips” before the post-halving bull market. Rather than panic, traders should prepare to take advantage of the opportunity.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-halving-countdown-strong"><strong>Halving Countdown</strong></h2>
<p>At the time of writing, the <a href="https://www.bitcoinblockhalf.com/" target="_blank" rel="noopener noreferrer nofollow">data shows</a> there are approximately 98 days until the next halving event. If the market follows a similar cycle pattern, Bitcoin could trade sideways for the next 3–4 months before beginning its upside breakout and run-up starting in mid-2024.</p>
<p>While short-term price action may prove volatile and markets impatient, zooming out on the perspective emphasizes the critical moment Bitcoin has arrived at prior to its automated supply shock halving.</p>
<p>Traders with conviction in this macro backdrop would likely be prudent to take advantage of any relief rallies and scope out buy zone opportunities in the $28k to $31k range anticipated in the months ahead.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/here-are-updated-ethereum-etfs-deadlines/" target="_blank" rel="noopener noreferrer nofollow">Here Are Updated Ethereum ETFs Deadlines</a></li>
 <li><a href="https://captainaltcoin.com/why-is-celestias-tia-up-today-technicals-suggest-a-retracement-to-these-levels-is-imminent/" target="_blank" rel="noopener noreferrer nofollow">Why Is Celestia’s TIA Up Today? Technicals Suggest a Retracement to These Levels Is Imminent</a></li>
 <li><a href="https://captainaltcoin.com/cardano-ada-going-down-vc-spectra-surges-ahead-drawing-closer-to-the-0-025-target-with-a-surge-in-trading-volume/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA) Going Down,&nbsp; VC Spectra Surges Ahead, Drawing Closer to the $0.025 Target with a Surge in Trading Volume</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-in-sideways-down-trend-as-halving-nears-analyst-warns-btc-may-dip-this-low-before-reaching-all-time-high/" rel="noopener noreferrer nofollow">Bitcoin in ‘Sideways &amp; Down’ Trend as Halving Nears; Analyst Warns BTC May Dip This Low Before Reaching All-Time High</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin in ‘Sideways & Down’ Trend as Halving Nears; Analyst Warns BTC May Dip This Low Before Reaching All-Time High

Table of Contents

CaptainAltcoin

Other articles published on Jan 15, 2024

Will BlackRock Surpass MicroStrategy in Bitcoin Holdings?

Scam Alert: Crypto Hackers Exploit Fake NFT Game To Drain Funds

Upcoming Token Unlock Events in the Crypto Market: Spotlight on FLOW

Bitcoin Price Drops For Fourth Day After ETF Approval, BTC At $34,000 Possible?

Renzo Secures $3.2 Million in Funding to Advance Liquid Restaking on EigenLayer

Failed $15B XRP transaction reveals partial payments exploit attempt

Join our free newsletter for daily crypto updates!