Bitcoin (BTC) Reaching Key Price Target Before Pre-Halving Rally
As Bitcoin (BTC) approaches a key Fibonacci retracement level, it could indicate the peak of its “pre-halving rally,” according to social media trader Titan of Crypto. Titan reiterated a pre-halving BTC price target of up to $50,000.
Trader’s Price Target
Bitcoin has been facing resistance near the $40,000 mark, with several unsuccessful attempts to surpass it. Titan of Crypto has identified $39,000 as an important boundary, predicting that BTC/USD should ideally end up in the range of $39,000-$50,000 prior to the April 2024 block subsidy halving event.
In December 2022, Titan of Crypto had predicted a pre-halving peak of up to $50,000 using Fibonacci retracement levels, which represented a 220% increase.
Consensus on Bitcoin Price
Other BTC price predictions also suggest similar targets before the halving. Filbfilb, co-founder of trading suite DecenTrader, has highlighted an area around $46,000 as “likely,” while not ruling out the possibility of a price dip before the halving.
Looking ahead, there are bullish forecasts indicating a potential price of $130,000 or more by the end of 2025. On the downside, $30,900 has emerged as a floor for Bitcoin’s next potential correction, with some analysts suggesting that a move lower to test liquidity would be a healthy part of the market uptrend.
Hot Take: Bitcoin’s Pre-Halving Rally and Price Targets
Bitcoin is approaching a crucial phase as it nears a key Fibonacci retracement level, signaling the potential peak of its “pre-halving rally.” Social media trader Titan of Crypto has identified important price targets, while other experts like Filbfilb have also weighed in on Bitcoin’s future price movements. With some predicting a price of $130,000 or more by 2025 and a floor of $30,900 for the next potential correction, the crypto market continues to see consensus on Bitcoin’s growth potential.
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