Bitcoin picking up where it left off: Will the rise continue?

Bitcoin (BTC) who completed their fourth halving entered the new week strongly, bringing joy to the sector.

As of April 20, the Bitcoin (BTC), which had its fourth halving, gradually gained upward momentum. Although it was initially challenged in the range of $62,000 – $63,000, the BTC later overcame it with a volume breakout and threw it above $66,000. In this process, the leader of cryptocurrencies, which is also a lifeline for altcoin, once again showed the halving effect. But will the expectation of rise continue in BTC?

The halving effect has started to show itself in Bitcoin!

After testing $71,500, the Bitcoin, which was in a fall trend until the halving was completed, finally broke out. Due to the realization of the fourth halving and the decrease in geopolitical tension, the BTC, which gained rise momentum, left $ 65,000 behind. The pioneer of cryptocurrencies, which turned an important resistance area into support by breaking volume, made investors smile.

The BTC, which changed hands at $66,252 as of the writing, may set its sights on even higher levels as the halving effect increases, Fed rates fall or the geopolitical chaos calms down. In such a scenario, a move to $67,613 – $69,017 – $71,289 and $73,684 can be followed, respectively.

The gradual growth of the Iran-Israel conflict, the continuation of the FED's current interest rate policy or the decrease in halving enthusiasm will naturally increase sales in Bitcoin. In such a scenario, relaxations towards support levels can be expected. The points that can be followed as support are 63,120 – 62,030 – 60,810 – 59,024 – 56,622 and 54,966 dollars, respectively. It is critical not to lose the green box for the short/medium term.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.