The fourth Bitcoin halving took place almost a month ago, and BTC has still not started to grow. In anticipation of positive market dynamics, investors shared their forecasts.
Trader and analyst Doctor Profit believesthat BTC is in a sideways trend, which should not be confused with a downtrend. In his opinion, the market’s preparation for the next phase of positive movement is indicated by the active minting of Tether stablecoins, which from the point of view of investors can be considered as “fuel” for the growth of Bitcoin. The trader also noticed that against the backdrop of calm, whales continue to accumulate coins.
The beginning of the growth phase, Doctor Profit is sure, will be a breakthrough of the levels of $72-72 thousand. Exiting the sideways trend, in his opinion, is a matter of time.
Analyst Michael van de Poppe, in turn, believesthat BTC has approached dangerous levels. In his opinion, the continuation of the trend and the inability to maintain the height of $60 thousand could result in a descent of Bitcoin to $52-55 thousand. He outlined the expected trajectory of BTC, as well as the levels worth monitoring, on the chart.
At the same time, Poppe maintained a positive outlook for Bitcoin in the long term. In his opinioninvestors will see market growth until 2025.
Similar levels of possible BTC fall designated trader and analyst at Stockmoney Lizards. His calculations are based on the assumption that the cryptocurrency chart shows a Wyckoff distribution. In the worst case, according to the trader, Bitcoin will go down to $52 thousand.
Many participants in the crypto community support the Bitcoin forecast, which implies an early completion of the correction followed by growth. For example, such an assumption expressed popular trader and investor Elja. In his opinion, on the cryptocurrency chart one can observe the “head and shoulders” technical analysis figure in an inverted version. Its completion, the trader is sure, can be recorded at the end of summer 2024. By September, Elja expects Bitcoin to reach new highs.
At the same time, the trader notedthat BTC is now testing the support level. According to Elja, this position of the cryptocurrency opens up good prospects for long-term investments.
Some investors believe that Bitcoin will see strong growth in the near future. For example, such an opinion adheres to trader and analyst Mags. The likelihood of a positive movement of the cryptocurrency, he believes, is indicated by a combination of indicator signals. With him agree Another popular analyst in the crypto community is “Coosh” Alemzadeh.
Source: Cryptocurrency
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