Bitcoin (BTC) Reaching Key Price Target Before Pre-Halving Rally
As Bitcoin (BTC) approaches a key Fibonacci retracement level, it might indicate the peak of its “pre-halving rally,” according to social media trader Titan of Cryptocurrency. Titan reiterated a pre-halving Bitcoin price target of up to $50,000.
Trader’s Price Target
Bitcoin (BTC) has been facing resistance near the $40,000 mark, with plenty of unsuccessful attempts to surpass it. Titan of Cryptocurrency 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 Cryptocurrency had predicted a pre-halving peak of up to $50,000 using Fibonacci retracement levels, which represented a 220% increase.
Consensus on Bitcoin (BTC) Price
Other Bitcoin price predictions likewise 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 likelihood of a price dip before the halving.
Looking ahead, there are positive trend forecasts indicating a probable price of $130,000 or more by the end of 2025. On the downside, $30,900 has resurfaced as a floor for BTC’s next probable correction, with some analysts suggesting that a move lower to test liquidity would be a healthy part of the market uptrend.
Hot Take: BTC’s Pre-Halving Rally and Price Targets
Bitcoin (BTC) is approaching a critical phase as it nears a key Fibonacci retracement level, signaling the capacity peak of its “pre-halving rally.” Social media trader Titan of Cryptocurrency has identified important price targets, while other specialists like Filbfilb have likewise weighed in on BTC’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 probable correction, the cryptocurrency market continues to see consensus on BTC’s growth potential.
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