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Bitcoin Sell-Off To $26K Range, Can BTC Price Recover Above $50k?

btc price prediction by bitcoin gorilla

Bitcoin Price dump was a shock to some, the experience foretells of a nightmare many are still trying to wake up from.
We did warn of this dump as anticipated in this post here https://www.tradingview.com/i/uHDaEWM1/
I do see this BTC price fall as an opportunity to invest in BTC at a cheaper price if you missed buying below $20k.

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The big question now is,
Is the Big Dump over?
Answer: NO!
Is the current price range $26500 to $30k bitcoin trading at a good price to buy some BTC?
OR are there high chances there could be more threat from the bear’s battalion army to still push to the 20k range?

The chances of the weekly and monthly sellers reacting to the 28k broken support are high as they did hold it twice in the past but
broken support also tells a story of weakness from the bulls which only means that even if they manage to survive it and bounce
above 40k we will face a bigger rejection before somewhere from around 50k to 64k range(too much resistance around lays within the price range)

Could BTC sellers push price to below 12k by 2024 halving after recovery to the $50k range from the current Bitcoin price dump? chart image by BitcoinGorilla

Bitcoin price Prediction Short-term price move

Short Term I do see a possible short pause(equilibrium between buyers and sellers)

but before we start judging a book by its coverlets look deeper into the charts and FIND OUT TOGETHER!
Short Term Look at BTC BULL/BEAR Battleground.

From the 4hrs chart Bitcoin Chart, We see a mini short term Head and Shoulders Forming that could force a push back to
target the head height of the H & S in the image below
The Image shows quick possible sellers shorting BTC back to 26800 one more time. The sell-off could stop at that 26800 or 26200 but if it proceeds to go
further below it can only mean that bears the force of the weekly and monthly chart are still in action and they seek blooooooooood so they wannnnnt 20k to 18k( but wait, Whaatt? don’t worry we will talk more about this)
I see this mini bearish pattern forming on 4hrs could be a threat to rush hour buyers who were impatient and already jumped in buying the dip?

Mini pause in btc price move on 4hrs showing possible Head & Shoulders pattern forming. chart image by Bitcoingorilla

Well, By BTC Breaking the neckline currently forming at 28600 only assures sellers of the H & S playing out.
NOTE that H & S succeed 75% of the time meaning failure of this pattern is possible by 25% so what could the failure look like?

so if the sellers fail to break the H & S neckline then this will only force buyers to retaliate a sharp shoot to $34k But could that be a bigger rejection or the beginning of a recovery phase?
Why the bulls will retaliate?
if the 28600 to 26800 fails to break( strong support twice saving the buyers to recover from the dump)
This failure will cause a forceful change of direction and the bulls could continue the move to head to 34k
The above chart (1Daily BTC Chart), shows a total possible outcome.
Looking into the battlefield on BTC daily chart, it shows the bulls could be hiding at the current support.
I say this because there is a big consolidation ongoing on the daily chart and from my experience,
consolidations don’t break easily meaning that invisible forces always pull price back into the consolidation and consolidations also refer to equilibrium between sellers and buyers on the daily chart.
Because of this force, I do see Bitcoin Buyers initiating battalions of the bull army to hold down the current support,
they will create a mini sideways on a lower timeframe by allowing the sellers to force a retest of the current support(expect more leg down to form
a higher low on the 4hrs chart around 26800 range. This will Begin the bulls journey to $52k

Bitcoin price Prediction Long-Term 2025

The higher timeframe sings a different song that sounds similar to what the bulls currently battling bears on 4hrs are saying.
If the bulls can withstand the selloff from BTC sellers at 28600(they already survived the first attack to prove they will win they need at least at worst push from a higher low around the
26600 to 26800 range this will prove we go up from here but if anything goes below 26200 I expect the next support to fall at the 20k to 18k range.
BTC on Weekly shows a Possible BEAR TRAP if the next week succeeds in holding above $26k but I must warn you to wait to see a clear higher low before jumping in for a buy.

BitcoinGorilla BTC price prediction till 2025 after halving overview. Imgage by Bitcoin Gorilla

We see BTC in a Mini equilibrium is currently ongoing between bulls and bears and trading it could cause a loss of money so its patient to get a more confirmation before buying along.
The good confirmation I do see comes when buyers soldiers withstand the selloff as I do see the sellers pushing them back below 28k during this short pause as they alternate the price
range of 30k and 26k support.

BTC price move conclusions

Just like the predictions I made on BTC in The past, has played out beautifully well. you can read them below

1, Here is my previous call on BTC all played out and you can check them starting April 2020 while BTC was at 4k I called 20k and all played out good







These are the important prices that will determine BTC price next direction after this current mini price pause
For more selloff to continue price needs to go below 26k
FOr more Buy power recovery to begin price must hold above 26600
Buyers Targets:
Entry FOr Possible long 28200 and 26800
Stoploss at 26120

1 Comment.

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