The more time passes since the halving the more unlikely a fall to 5k range will become. Now we're still testing the waters, but what is happening now is a great indicator of a new bull market. The problem with TA based predictions for Bitcoin is that there are some external factors that can influence the price. Stocks and laws regarding Bitcoin in various countries are just 2 of those factors. You can have the greatest bullish setup and then Bitcoin gets banned in a few couyntries and that setup will turn into nothing.
That's for sure. The more time passes from the date of the division of bitcoin in half, the less likely it is that the price of bitcoin may fall to the lowest possible values. A correction is, of course, possible, this is a normal growth process in the cryptocurrency market.
Over the past hour, the price of bitcoin has dropped from $ 11,938 to $ 11,303. Is it just another wave or is it the beginning of a price correction?
It's definitely a correction, but while a correction in a bear market takes the price back up and then falls lower, a correction in a bull market takes us back down to finally push the price even higher. If we manage to stay above 10k for another couple weeks we will come back up to attack 12k resistance again.
