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<p>Over the past few weeks, Bitcoin (BTC) has seen bullish momentum return following an extended period of rangebound price action. Analyst interpretations of key technical levels suggest further upside remains likely in the coming months as the next halving approaches.</p>
<h2 class="wp-block-heading" id="strong-key-resistance-break-hints-at-history-repeating-strong"><strong>Key Resistance Break Hints at History Repeating</strong></h2>
<p>Per analyst <a href="https://twitter.com/MikybullCrypto/status/1759466183940542763" target="_blank" rel="noopener noreferrer nofollow">MilkyBull Crypto</a>, Bitcoin recently closed above a critical cyclical resistance level for the first time prior to a halving event. Notably, similar resistance breaks in 2016 and 2020 preceded major bull runs over the following year. After 63 and 49 days, respectively, of those breakouts, new all-time highs were reached.</p>
<p>If historical patterns repeat, MilkyBull expects Bitcoin to once again print fresh highs by April 2024. Other experts share the view that previous market cycles provide a roadmap for where BTC heads next.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="580" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-1024x580.png" alt="" class="wp-image-440536" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-1024x580.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-768x435.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-1536x870.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-2048x1161.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-265x150.png 265w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-618x350.png 618w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708-788x446.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-708.png 1950w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="strong-overbought-conditions-usually-mark-start-of-epic-bull-runs-strong"><strong>Overbought Conditions Usually Mark Start of Epic Bull Runs</strong></h2>
<p>According to analytics <a href="https://twitter.com/CryptoJelleNL/status/1759536382228201795" target="_blank" rel="noopener noreferrer nofollow">shared</a> by trader Jelle, Bitcoin’s weekly relative strength index (RSI) now sits above 70. As he notes, such overbought readings marked the early stages of crypto’s most lucrative bull markets historically. If those precedents hold, significant additional upside could just be getting started.</p>
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<p>Popular analyst Michaël van de Poppe <a href="https://twitter.com/CryptoMichNL/status/1759502042303811854" target="_blank" rel="noopener noreferrer nofollow">concurs</a> on Bitcoin’s positive momentum. However, he believes a brief pullback may hit in the near-term before BTC pushes toward $54-58K. Upon reaching those interim target levels, de Poppe expects the current pre-halving run to conclude.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="558" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-1024x558.png" alt="" class="wp-image-440544" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-1024x558.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-300x163.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-768x418.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-1536x836.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-276x150.png 276w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-643x350.png 643w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-709-788x429.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="strong-new-all-time-high-likely-by-may-per-historical-tendencies-strong"><strong>New All-Time High Likely by May per Historical Tendencies</strong></h2>
<p>Veteran analyst Kevin Cage <a href="https://twitter.com/Kevin_Cage_/status/1759608094802256061" target="_blank" rel="noopener noreferrer nofollow">highlights</a> Bitcoin decisively moving past the 50% retracement of its recent bear market. On the three previous major Bitcoin cycles, closing a full weekly candle above this level kicked off the final leg higher to new all-time price highs.</p>
<p>During those historic occasions, fresh highs emerged over stretches of 28–98 days post-breakout. Applying this range to the current market environment, Cage assesses a likely timeframe of March 18th to May 27th, 2024, for Bitcoin’s next record peak.</p>
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<p>With blockchain activity, institutional adoption, and developer sentiment remaining strong, most experts agree Bitcoin’s long-term outlook looks bright. If key upside triggers like the impending halving play out similarly to past cycles, renewed exuberance around crypto may lift Bitcoin and the broader digital asset market back toward record valuations by mid-2024.</p>
<p>Still, unforeseen regulatory pressure or macroeconomic instability leading into the U.S. presidential election could weigh on investor appetite. But for long-term focused bulls, recent price action provides another validation point for Bitcoin’s status as digital gold.</p>
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<p>The post <a href="https://captainaltcoin.com/analyst-shares-time-frame-when-bitcoin-should-create-an-all-time-high-highlights-when-btc-pre-halving-rally-will-end/" rel="noopener noreferrer nofollow">Analyst Shares Time Frame When Bitcoin Should Create An All-Time High, Highlights When BTC Pre-Halving Rally Will End</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst Shares Time Frame When Bitcoin Should Create An All-Time High, Highlights When BTC Pre-Halving Rally Will End

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Ďalšie články zverejnené 19. 2. 2024

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