MachiavelliTrader

BTC Selloff Warning: How to Buy BTC at $40k this 2024 before Dec

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BINANCE:BTCUSD.P   BTC Perpetual Futures Contract
Over the next five months, from May to September, Bitcoin is poised to undergo what I term the "BTC after Halving effects." This phase is not only anticipated to test Bitcoin's resilience but also challenge the resolve of weak holders, as the current price is likely to experience a pullback. However, the extent of this pullback remains uncertain, especially with the introduction of ETFs into the picture. It's a scenario that hasn't been witnessed before, particularly post-halving, but the positive reaction observed in 2024 following ETF approval is encouraging. Nonetheless, given the nature of market makers and their potential to exploit post-halving effects, it's prudent to anticipate certain support levels. While the last support level is more of a worst-case scenario, it's wise to be prepared for a pullback to around $48,000. Here are the support levels to monitor, presenting buying opportunities:

1. $49,046 - $45,905
2. $40,359 - $38,722
3. $31,892 - $25,711

These support levels should be closely watched to capitalize on any potential buying opportunities. The anticipated major pump is expected to commence from October to November 2024.

my post in April highlighted this warning before it all began

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