#BTC
In 2 days, Bitcoin will officially enter the "Danger Zone" (orange) where historical Pre-Halving Retraces have begun
Historically, Bitcoin has performed Pre-Halving Retraces 14-28 days before the Halving
In 2020, this retrace was -20% deep
In 2016, this retrace was -40% deep
Currently, $BTC is 30 days away from the Halving and has pulled back -11% this week
#Crypto #Bitcoin
If #BTC loses the ~$26200 support (blue) then price would drop into the lower $20000s (green)
The ~$26200 happens to be a confluent support with the 200-week MA (orange)
$BTC #Crypto#Bitcoin
#BTC continues to reject from ~$27600
Weeks ago, this level was decisively lost as support
And for the past 2 weeks - it is a firm resistance
$BTC is technically positioned for downside
If BTC cannot reclaim $27600 as support soon, BTC will go lower in time
#Crypto#Bitcoin