Bitcoin Price Analysis: After Halving, What To Expect Now From BTC Price

So it finally happened! We hit block number 630,000 and with that, the Block Halving occurred. This means that miners are now receiving just 6.25 BTC per block, down from the previous 12.5 BTC per block that they were previously getting.
So the overarching question is; What Now?
Well, we can most certainly expect a whole lot of volatility over the next few days and weeks. Just because the block halving occurred, do not expect the price for the cryptocurrency to explode and head toward $20,000 instantly.
Instead, we are likely to see BTC heading down and then up in a whipsaw like fashion until a sustainable equilibrium is reached between miners’ costs and miners’ revenue.
Let me present the bullish and the bearish case for Bitcoin over these next few weeks.
Bitcoin Price Analysis
BTC/USD – Daily CHART – SHORT TERM
Market Overview
Taking a look at the daily chart above, we can see that not much has moved since the halving, we are still trading at the $8,600 range and remain supported by a short term .236 Fibonacci Retracement level. This $8,600 will be a critical level to keep your eyes on for the next 24 hours.
Bullish Case
So the bullish case would be that BTC rebounds from the current $8,600 support and starts to climb higher. In this case, the first level of strong resistance will be located at $9,090 (bearish .786 Fib Retracement). Above this, resistance lies at $9,300, $9,600, $9,750 (bearish .886 Fib Retracement), and $10,000.
Beyond $10,000 resistance is found at $10,247 and then 2020 high at around $10,457. If we can breach this resistance, BTC will certainly be headed toward the $15,000 level and possibly toward $20,000 by the end of the year.
Bearish Case
In the bearish case, we would first need to see BTC breaking the current support at $8,600. However, even if we break beneath this we still won’t be in a bearish trend. To turn fully bearish, the market would have to fall beneath $8,000 and break beneath the support at the 100-days EMA at $7,900 and penetrate beneath the green rising trend line.
If this occurs, we can expect support at $7,700 (.382 Fib Retracement), $7,500, $7,000 (.5 Fib Retracement), and $6,500.
Conclusion
Despite these two outlined cases, we are most likely to just whipsaw between $10,000 and $7,000 over the following weeks. A break beyond these two levels would dictate where we will be headed toward over the next few months.
Key Levels
Support: $8,600, $8,500, $8,200, $8,000, $7,690, $7,500.
Resistance: $9,000, $9,200, $9,600, $9,800, $10,000.
- Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH
- Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown
- FLOKI Makes History With First ETP in Europe as Price Surges 30%
- BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert
- Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying