Bitcoin nears pre-halving 'target zone' toward $50K BTC price
Crunch resistance for Bitcoin lies just below $40,000 as part of a BTC price target which should still materialize, its creator says....
- Bitcoin (BTC) is approaching a key Fibonacci retracement level, which could indicate the end of its pre-halving rally.
- Popular social media trader Titan of Crypto predicts a pre-halving BTC price target of up to $50,000.
- Bitcoin has faced resistance in reaching the $40,000 mark, with previous attempts failing.
- The $39,000 level is significant for aggregate market profitability and is seen as a breakeven point for those who bought during the 2021 bull market.
- Titan of Crypto also considers $39,000 as the bottom where BTC/USD should end up before the April 2024 block subsidy halving event.
- Other analysts, such as Filbfilb, suggest a price target of around $46,000 before the halving.
- After the halving, there are more bullish forecasts, including predictions of $130,000 or more by the end of 2025.
- On the downside, $30,900 is seen as a potential floor for Bitcoin's next correction.
- BTC/USD is currently trading at $36,500.
The sentiment of the article is generally positive, highlighting the potential for Bitcoin's pre-halving rally and various price targets.