After the long-awaited Bitcoin (BTC) halving event failed to kickstart an imminent massive rally, the cryptocurrency market is consolidating, providing an opportunity for those eyeing the flagship decentralized finance (DeFi) asset to purchase it at a lower price before the momentum eventually returns.
As it happens, popular crypto trading analyst Michaël van de Poppe has observed that “boredom has come back into the markets,” and Bitcoin is “still consolidating within the range, through which this is now more than six weeks,” according to an X post published on April 23.
Bitcoin price action analysis and prediction. Source: Michaël van de Poppe
BTC price prediction
At the same time, pseudonymous crypto market expert TradingShot has highlighted that Bitcoin was at a critical juncture, struggling to surpass and sustainably close above its record-high resistance, but that the current period of sideways consolidation suggests a bullish future.
Specifically, the analyst noted that periods of consolidation such as those observed at the moment often precede an aggressive nonstop rally, pushing the maiden crypto asset to new all-time highs (ATHs), which, in this case, could lead Bitcoin toward $150,000 or even $300,000, as Finbold reported.
Bitcoin price action analysis chart. Source: TradingShot
Bitcoin price analysis
For now, Bitcoin is trading at the price of $66,070, which suggests a recovery of 0.07% on the day, a 4.87% gain across the past week, adding up to the accumulated monthly advance of 0.52%, according to the most recent chart data retrieved on April 23.
Bitcoin price 7-day chart. Source: Finbold
All things considered, Bitcoin’s history has demonstrated unstoppable strength in increasing its price, and dips may, indeed, represent an ideal opportunity to grow a portfolio for true believers. However, making any definitive Bitcoin price prediction is challenging, so doing one’s own research is critical.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
