Crypto analyst Filbfilb said that Bitcoin is recovering and despite the risk of decline before the halving, BTC price action is on an upward path.
The co-founder of trading firm DecenTrader shared his thoughts on Bitcoin price action in a recent interview with Cointelegraph.
Filbfilb stated that he believes Bitcoin has solidified its exit from the sub-$30,000 trading range that has characterized the market for much of 2023.
The main question for Bitcoin, which has overcome numerous resistance levels, is “how will the price movement turn into a halving?”
With less than five months until the halving, which will take place in April 2024, Filbfilb argued that a “reasonable” bullish target could be just below the $50,000 level. This confirms the assumptions made in a previous interview he made in early September, when BTC/USD was trading just below $26,000.
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