Bicoin Market Analysis & Price Prediction || 29 April, 2024 || Steem Alliance

Assalamu Alaikum friends,
Hope everyone is well and healthy. Bitcoin halving ends on April 20, 2024. And through this halving, the mining reward has been reduced from 6.5 bitcoins to 3.25. Due to this, those who are miners may have to fall into the loss by reducing the mining reward. However, a large dump was expected as per recent history. But, no such dump was seen in this halving. No big pump was found. Bitcoin is in sideways movement for now. In today's blog I will do Bitcoin market analysis and price prediction. Let's start without delay:-

Today's Bitcoin 24-hour all-time high was $64,370 and low price was $63,157. And 15 billion dollars of spot trading was done in 24 hours. Which is 20% down compared to the previous day. However, due to this side-way movement in the market, the rest of the altcoins are seeing good trading volume.

---

---

4 hour Candle

^{ScreenShots From TradingView}

In this timeframe, we can see a symmetrical triangle pattern forming. Two types of movement are commonly seen in this type of pattern. Down side movement and upside movement. When a pattern descends from the bottom to form a symmetrical triangle, there is a 100% probability of a breakdown to the upside and it provides a sure pump signal. By doing this, spot and future/leverage traders can easily confirm their entries. In this movement, since the Bitcoin candles have formed a symmetrical triangle from the bottom to the top, it is expected that Bitcoin will pump very quickly.

---

---

1 Day Candle

^{ScreenShots From TradingView}

Similar to the 4-hour time-frame, the 1-day time frame also forms a symmetrical triangle pattern. So it is expected to see a pump in bitcoin prices very soon.

---

---

1 Week Candle

^{ScreenShots From TradingView}

Surprising everyone in this frame, Bitcoin is still in a down trend in the 1-week time-frame. But it takes very little time to break a trend. Hence, the 4-hour and 1-day time frames will play an important role in breaking the weekly downtrend.

My Prediction:- If my market analysis works properly, the price of Bitcoin can be seen crossing $70,000 in the zone of $72,500 in a short period of time. This entire prediction will depend on market news.