The Bitcoin weekly chart exhibits a pattern of three significant upswings, each nearing a 90% increase, followed by roughly 20% corrections after the first and second legs.
As we approach the halving event, a pullback of at least 20% seems plausible, suggesting a potential target around $58K.
Given this historical pattern and the cyclic nature of Bitcoin's price action, such a retracement would not be out of the ordinary.
As we approach the halving event, a pullback of at least 20% seems plausible, suggesting a potential target around $58K.
Given this historical pattern and the cyclic nature of Bitcoin's price action, such a retracement would not be out of the ordinary.
Commento:
Bitcoin's trajectory is aligning with the anticipated path, descending towards the $58K mark. This level is critical as it may act as a magnet for stop orders, potentially culminating the completion of the second leg of its recent movements.
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