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Bitcoin Technical Analysis: Due For Pre-Halving Pump (April 2020)

Bitcoin is in a tricky situation. The market seems poised for some pre halving gains but at this point there is also the risk of BTC/USD seeing a sharp retracement down to the $7.3k region before it starts rallying again. It has taken far too long to consolidate and if it fails to break out soon, the bears would take control near term and we will see a move to the downside follow in the near future. For now, the outlook remains unchanged and we still expect Bitcoin to rally past $8k to fill that CME futures gap.

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As many cryptocurrency traders and market-watchers know from their market analysis,…

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