🔥 Key Takeaways
- Bitcoin’s price is struggling to surpass $88,000, risking its first post-halving year red candle.
- A retest of $93,500 is still possible by the end of the year, but a red 2025 candle would challenge the four-year cycle theory.
- The current price stagnation threatens the long-term bullish outlook for Bitcoin.
Bitcoin’s Price Struggles Pose Risk to Four-Year Cycle Theory
As the year draws to a close, Bitcoin’s price is stuck at around $88,000, raising concerns that it may end the year with a red candle for the first time since the last halving. According to Bitcoin analysis, while a retest of $93,500 is still possible before the year ends, a failure to break through this resistance level would result in a red candle for 2025. This would not only be a significant setback for investors but also threaten the widely-held four-year cycle theory, which predicts a bullish outlook for Bitcoin following each halving event.
Implications of a Red Candle
A red candle for 2025 would be a significant deviation from the expected pattern, potentially indicating a shift in market sentiment or a change in the underlying fundamentals driving Bitcoin’s price. It would also raise questions about the validity of the four-year cycle theory, which has been a cornerstone of Bitcoin analysis for many years. On the other hand, a retest of $93,500 and a subsequent breakout would help to reaffirm the theory and provide a bullish outlook for the coming year.
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