Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-sees-key-price-movements-after-block-reward-halving/" data-wpel-link="internal">Bitcoin Sees Key Price Movements After Block Reward Halving</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/guney-avrupanin-en-buyuk-eglence-parki-odemelerde-bitcoini-kabul-edecek" data-wpel-link="internal">Bitcoin</a></strong> (<a href="https://coin-turk.com/halvinge-11-gun-kaldi-kripto-paralar-ne-olacak-btc-dxy-ve-sp500-yorumlari" data-wpel-link="internal">BTC</a>) experienced its fourth block reward halving last week, reducing the block reward for miners from 6.25 <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-may-never-fall-below-40000-again/" data-wpel-link="internal">BTC</a> to 3.125 BTC at the 840,000th block height. This significant event was followed by a notable price increase, with <a href="https://en.coin-turk.com/exploring-the-next-peak-bitcoins-market-cycle-and-price-predictions/" data-wpel-link="internal">Bitcoin</a> rising from below $62,000 to $67,000. This upward movement after the halving suggests increased trading activity and buying pressure, potentially indicating the start of a new bullish trend for Bitcoin.</p> 
<h2 style="text-align: justify" id="strong-key-levels-in-bitcoin-strong"><strong>Key Levels in Bitcoin</strong></h2> 
<p style="text-align: justify">The recent price rise in Bitcoin, typically interpreted as a bullish signal following the block reward halving, heralds a new accumulation phase. Particularly, Bitcoin trading above $66,800 is a significant indicator of strength and growth. This recovery is crucial as it eliminates the potential for further significant drops, especially around the $60,000 mark.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-343600" src="https://coin-turk.com/wp-content/uploads/2024/04/Bitcoin-BTC-Analiz-2.png" alt="" width="1600" height="781"></p> 
<p style="text-align: justify">Looking ahead, attention is turning to the short-term trajectory of Bitcoin’s price movement and the anticipated start of a sustainable bull run. Short-term trading analysis shows that the largest cryptocurrency is very close to critical areas between its 100-day and 200-day moving averages (MA).</p> 
<p style="text-align: justify">The price trajectory characterized by consistently higher and lower levels shows that the $68,596 level is an important resistance level. Additionally, the 200-day MA at $67,170 also stands out as a significant resistance. For a strong rally, Bitcoin needs to surpass these thresholds.</p> 
<h2 style="text-align: justify" id="strong-what-s-next-for-bitcoin-strong"><strong>What’s Next for Bitcoin?</strong></h2> 
<p style="text-align: justify">While technical indicators provide valuable insights into Bitcoin’s short-term price trajectory, the 4-hour price chart indicates a slight upward trend, signaling the potential for continued upward movement in the short term. Moreover, a V-shaped recovery formation points to rising momentum, suggesting the possibility of a rally towards $70,000, contingent on a strong candle close above the 100-day MA at $68,929. However, investors should be cautious as the Relative Strength Index (RSI) approaches upper thresholds, potentially triggering a downward trend.</p> 
<p style="text-align: justify">On the other hand, the Stochastic RSI indicator is preparing for a pullback, maintaining the possibility of Bitcoin continuing a healthy consolidation phase in the short term.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-sees-key-price-movements-after-block-reward-halving/" data-wpel-link="internal">Bitcoin Sees Key Price Movements After Block Reward Halving</a></h5>

Bitcoin Sees Key Price Movements After Block Reward Halving

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