BTC prediction

Bitcoin remains strong despite the heavy selling pressure from GBTC over the past month. It has managed to remain above the bull market support band, which currently sits at 37.6k and rising (see chart). This for me is the first area of support that is likely to be defended.

However, BTC likes a deep correction but given the strength of Bitcoin and the general bullish factors in play (ETF’s & Halving), I very much doubt BTC will drop below 31k. This area is one of strong horizontal support and confluent with the 200 W SMA (see chart).

Any move towards either of these areas (37k or 31k) should be considered by the investor as an ‘opportunity

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