Technical analysis by AliCoinYTD about Symbol BTC on 2/4/2024

What is happening in the crypto exchange? Etf news carried the prices of bitcoin up to here on its own. Now what will happen next? With the decline after the ETF news and approval, the effect of ETF in the coming days is over. The effect will be much better in the long run, but right now there are 2 events that will affect the price of bitcoin. 1. There was a halving in April. When we look back, bitcoin increased until the halving event. He is literally heating the water in preparation for the bull. The market continues to rise after a minor correction until the halving. After the halving, there may be a decrease of 25% to 40% since the market has already priced itself. 2. Interest rate reduction: J.Powel said in his statement at the end of January that there would be no interest rate reduction in March. When we look at the price of btc on this date of 04.02.2024, this news did not price itself in my opinion. Before the end of February, bitcoin will complete the pricing of the interest news in March with a solid correction. Interest rates need to remain constant in March and we need to talk positively about May, otherwise halving pricing will be interrupted and after that time, fundamental analysis will be sidelined and we will have to look at technical analysis. I have drawn the technical analysis in its simplest form. If Bitcoin receives possible bad news, it should return from the yellow line. If it breaks down from there, it will want to test the green line. In a good scenario, I think 50200 will be tested at least once by March. If J.powel makes a positive dovish speech for May in March bitcoin< /a> breaks the resistance above and starts its journey to 60k. I think there will be a solid correction after the halving and if there is a rate cut at the May Fed meeting, we can say that the bull season has come. Nobody should say that the bull has come before the interest rate cut comes, these increases are not bull rises, altcoins are roasting in their own oil. None of us are prophets, no one should deceive anyone, if you are in this market, the decline is ours. It is Ours in Ascension. Follow the scenario and participate in the game accordingly