Will Bitcoin bonce off the Power Law trend this time?

24 ביוני

After each halving event in the past bitcoin price tend to come back to the blue "buy zone".
Currently bitcoin price toched the 15 year long Power Law trend (green line).

It is the perfect line to bounce off. However, if we analyze the previous 3 halving events we will see that the blue zone was hit each time after halving. In the current cycle this means that the price may come in below 50k zone, but not for very long time.

The lower wave band is corrently at about 40k level.
Let's see the outcome.

24 ביוני

הערה

Title: Bitcoin Post-Halving Analysis: Historical Patterns and Price Projections
Analysis:

Historical Trend:

After each halving event, Bitcoin's price has consistently returned to the "buy zone" (blue line in chart).
This pattern has held true for the past three halving cycles.


Current Situation:

Bitcoin price has recently touched the 15-year long Power Law trend (green line).
This trend line has historically served as a strong support level, suggesting a potential bounce.


Projection for Current Cycle:

Based on previous cycles, we may see Bitcoin's price temporarily dip below the $50,000 level.
The lower wave band is currently around the $40,000 mark, which could act as a support level.
However, any drop to this level is not expected to be sustained for an extended period.


Key Levels to Watch:

Resistance: Current price level (Power Law trend line)
Support: $50,000 zone
Potential bottom: ~$40,000 (lower wave band)



Conclusion:
While historical patterns suggest a potential dip to the "buy zone," the touch of the long-term Power Law trend line could provide significant support. Traders should watch for a potential bounce from current levels or be prepared for a short-term drop towards the $40,000-$50,000 range.