There are a lot of ongoing discussions about whether the halving event is sufficient of a fundamental to push the BTC price higher, or whether the event is already priced in. The same was being debated in 2016 and yet, there was a significant increase post halving. The nature of the currency (deflationary) can only mean that the price will steadily be on the rise with growing (non-decreasing) demand and diminishing supply, unless Bitcoin and the underlying technology are considered useless and no longer developed/maintained by the community.
The short term (1-5 weeks) is most certainly towards the upside until around 12k (next strong resistance-red line) most likely achievable before end of March (before first week of March more likely). On the downside, a strong support line (green line) which will likely not be crossed.
Only a small fraction of BTC traders are institutional, whom will be capturing profits when BTC will be hitting new highs. I am fairly confident that we will reach a new ATH this year and possibly even beat it by a factor of 1.4-1.6 (28-32k USD).
Idea will be updated on a regular basis.
The short term (1-5 weeks) is most certainly towards the upside until around 12k (next strong resistance-red line) most likely achievable before end of March (before first week of March more likely). On the downside, a strong support line (green line) which will likely not be crossed.
Only a small fraction of BTC traders are institutional, whom will be capturing profits when BTC will be hitting new highs. I am fairly confident that we will reach a new ATH this year and possibly even beat it by a factor of 1.4-1.6 (28-32k USD).
Idea will be updated on a regular basis.