Bitcoin (CRYPTO: BTC) has dipped below $91,000, a move that aligns with historical post-halving patterns, according to prominent technical analysts.
How Long Will Bitcoin’s Consolidation Last?
Technical analyst Kevin highlighted that Bitcoin’s 3-day price chart and the Moving Average Convergence Divergence (MACD) indicator have been reliable for tracking bull market trends.
Historical data shows that MACD downside crosses often precede consolidation periods lasting 30 to 174 days. Kevin points out a potential cyclical pattern:
Previous consolidations: 164, 30 and 174 days.
Current consolidation: 24 days so far, suggesting 35-40 days of range-bound trading before a breakout.
In another tweet, Kevin highlighted that Bitcoin faces substantial liquidity blocks between $86,000 to $90,000 and $104,000, suggesting possible sweeps in both directions …Full story available on Benzinga.com