Bitcoin Price Prediction as BTC Crashes Before Halving – Is The Bull Market Over?

This pattern, coupled with the formation of a hammer candlestick pattern just above this zone, suggests that there could be a buying resurgence if Bitcoin maintains above this threshold. Such technical formations are often interpreted by traders as bullish signals, potentially leading to an uptick in buying activity.

However, should Bitcoin break below the pivot point of $61,415, it could trigger a sharper decline, directing the digital asset towards the lower support levels identified. This scenario would likely be driven by a shift in trader sentiment, leading to increased selling pressure.

In conclusion, the current technical analysis for Bitcoin remains cautiously bullish above the $61,415 level.

Conversely, a downturn below the pivotal $61,415 could intensify selling trends, possibly causing the price to test further supports at lower thresholds.

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