BTC price action has yet to match one Bitcoin trader’s long-term target, but “patience is key,” he says nearly one year later.
is nearing a key Fibonacci retracement level which could mark the top of its “pre-halving rally.”
That is according to popular social media trader Titan of Crypto, who on Nov.
19 reiterated a pre-halving BTC price target of up to $50,000.
Trader: $39,000 is pre-halving BTC price target range floor
Bitcoin faces stiff resistance sliding back to the $40,000 mark; several attempts to crack it have failed in the past week.
As Cointelegraph reported, the area immediately below also holds significance for aggregate market
profitability, with $39,000 likely a breakeven point for those who bought in during the 2021 bull market.
Titan of Crypto has also flagged $39,000 as an important boundary — this time, however,
as the bottom of where BTC/USD should end up prior to the April 2024 block subsidy halving event.
“The pre halving rally I told you about one year ago is about to reach its target zone between
$39k-$50k,” he told X subscribers, adding that “patience is key.”