Analyst Crypto Bunter discusses recent market trends in his latest analysis. He said a period of decline is usually followed by pre-halving dumping, which can sometimes occur immediately after the halving, within about two months to eight weeks. Unstable price fluctuations and fluctuations characterize this stage.
Analysis of dump before halving
As for whether the decline is over or nearing an end, he said recent data on Tether minting another $1 billion worth of tokens suggests a possible turnaround. . Historical data shows that such injections into the market often coincide with significant market bottoms. This pattern is especially pronounced right now, with Tether's aggressive printing outpacing previous instances such as the FTX collapse.
He said to keep an eye on trading volumes as more activity will be needed to push prices up from these lows. He advised that he expects prices to remain within a certain range. If we look at a longer time frame, it is clear that this range is between approximately $50,000 and $77,000. The analyst said it is currently near the middle of that range. Prices may fall a bit more, but as long as they don't fall consistently below $59,000, there's still a chance to buy on the dip and make a profit.
strategic purchase level
He also said that even if the price drops to around $52,000, it's still a good buying opportunity because it's in line with the long-term 21 exponential moving average, an important indicator.
“A short cross below the moving average on the medium timeframe means we should focus on the next moving average, which is the higher timeframe coming in as support,” the analyst said. . It's always going up every 5 days. This is obviously a good thing because it means the validation zone is getting higher and higher. Ultimately, even if there is further decline, the $52,000 to $54,000 level is a reasonable bet for him. This will be the zone where you can earn more Bitcoins. ”
