Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-begins-to-consolidate-ahead-of-halving-is-this-the-beginning-of-a-bearish-april/">Bitcoin Price Prepares for a 15% Crash Ahead of Halving: Is This the Beginning of a Bearish April?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The bears have jumped back into action as the price is undergoing a notable pullback, which may test the lower crucial support. The previous month remained extremely bullish with a 20% jump, which assisted the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> in marking a new ATH close to $74,000. However, the token underwent a massive pullback of 18% but somehow managed to recover. Now that the market participants have revived their hope of a healthy upswing being restored, the latest descending trend has shaken up the bullish trajectory.&nbsp; 
Now the question arises whether the <a href="https://markets.coinpedia.org/bitcoin/">BTC price</a> will remain consolidated until Bitcoin halving, or if it is a trap to capture the bears. 
The daily chart of the Bitcoin price is trading within a parabolic curve and a final touch to the lower support of the curve is expected to trigger a massive upswing. With the recent pullback, market sentiment has shifted bearishly, indicating that traders are becoming increasingly fearful. Therefore, it indicates the rally is nowhere close to euphoria yet; therefore, the cycle appears to be at an early stage.&nbsp; 
When the price remains in the early stages of the cycle, it could be prone to a bearish pullback. However, this could be a bullish indicator, which may propel the BTC price to $80,000.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/zbqGoF5wayD5Zz_lMRyzvP7d9TucTVPSl6TuPkbDobXUctVHcG9B2nvoV_MY_3Ne_a29j5zxEe6CV3al-jTktb_R49ofV-E6U37_1tDaodA3AEW8vCQLLEmoJfkQDEc9pnFJkEBah5CKwWSDWS2RdBg" alt="">
</figure> 
The short-term trade of Bitcoin suggests the price is trading below the resistance at around $71,324.33, as the bulls are facing hindrances in surpassing these levels. With this, the trade has entered lower support levels, which has mounted bearish pressure over the token. The selling volume has also intensified, due to which there is a possibility that below $66,000 has emerged.&nbsp; 
Also Read : <a href="https://coinpedia.org/price-analysis/biggest-crypto-critic-accidently-predicted-bitcoin-price-to-hit-94000-in-coming-days/">Crypto Critic Taunts Bitcoiners with $94,000 Price Prediction, Triggers Debate</a> 
Besides, the possibility of a rebound has also surfaced, as the RSI has reached lower support and may soon undergo a bullish divergence. This may cause the price to initiate a bullish upswing and reclaim levels above $71,000. However, the bulls are expected to showcase acute strength at these levels, which may propel the prices towards new highs, probably close to $80,000 just before the halving. After the event, the Bitcoin (BTC) price is believed to maintain a huge upswing and head towards higher targets.

Bitcoin Price Prepares for a 15% Crash Ahead of Halving: Is This the Beginning of a Bearish April?

CoinPedia News

2024年4月2日公開の他の記事

Kaspa (KAS) Price Correction Ahead: Challenges Loom for Optimistic Bulls

Koala Coin (KLC) Marks Its Territory in the Meme Coin World Drawing Ethereum Classic (ETC) And So...

Top Crypto Presale of 2024: BlockDAG Amasses $11.6M, Sells 6B Coins Amid Tron Downward Trend & Ca...

March Sees Spot Bitcoin ETF Volumes Triple to $111 Billion Amidst Rising Interest!

Emerging DeFi Token Retik Finance (RETIK) Gains Rapid Popularity, Becomes Major Threat to Polygon...

Altcoin Tsunami: Ride the Wave of Exponential Gains

ニュースレターを購読して暗号資産の最新情報を毎日入手！