Bitcoin Faces Resistance Hurdle: Will 2024 Be the Breakout Year?

• Bitcoin faces resistance after historical trends post-halving, hinting at short-term volatility.
• Tom Lee’s bullish $150,000 BTC forecast for 2024 stems from macroeconomic shifts and Fed policies.
• Despite short-term dips, Bitcoin’s potential for significant gains aligns with broader analyst sentiment.

Bitcoin is currently facing resistance at its upper range, indicating potential volatility in the short term. According to a recent analysis by Rekt Capital, Bitcoin has historically never been ready to break out of a re-accumulation range so soon after a halving event. As Bitcoin prices struggle at this high resistance, the cryptocurrency market remains in a state of flux.

#BTC

Bitcoin is rejecting at the Range High Resistance

Historically, Bitcoin has never been ready to breakout from a Re-Accumulation Range this soon after the Halving$BTC #Crypto #Bitcoin https://t.co/Jw7FcQuPSo pic.twitter.com/tV7N3hyvZb

— Rekt Capital (@rektcapital) May 23, 2024

The current Bitcoin price stands at $67,264.08, reflecting a 3.13% decline in the past 24 hours. Trading volume in the same period reached $43.099B. Despite the recent dip, Bitcoin’s market capitalization remains …

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