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

Published by
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.

Advertisement

Bitcoin Price Analysis

BTC/USD – Daily CHART – SHORT TERM

BTC/USD. Source: TradingView
Advertisement

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.

Advertisement

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.

Advertisement

Share
Yaz Sheikh

Yaz is a cryptocurrency technical analyst and has been actively trading financial markets for over 7years, with 4 years of crypto experience. He is an Economics graduate who has taken a keen interest on the future potentials of blockchain in the financial industry. Aside from cryptocurrency and trading Yaz enjoys spending his time watching his favourite football team (Liverpool F.C.) compete as well as keeping up-to-date with the UFC. Follow him at @TcmYaz.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement

Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…

October 4, 2025
  • 24/7 Cryptocurrency News

‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications

Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…

October 4, 2025
  • Bitcoin News

Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model

Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…

October 4, 2025
  • Bitcoin News

Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH

The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…

October 4, 2025
  • 24/7 Cryptocurrency News

Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown

Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…

October 4, 2025
  • 24/7 Cryptocurrency News

FLOKI Makes History With First ETP in Europe as Price Surges 30%

FLOKI has announced the launch of the first BNB chain exchange-traded product (ETP) in Europe.…

October 4, 2025