Bitcoin nears pre-halving 'target zone' toward $50K BTC price


19 Nov 2023 12:26 PM

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.

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You May Ask

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