My Crystal Ball Prediction Says to Sell the Halving ~10.2k
*Closer view Hourly chart posted earlier*
Point A) on the charts are August 2015 lows
Point B) on the charts are December 2017 highs
Point C) on the charts are December 2018 lows
Point D) on the charts are June 2019 highs
We will bottom between ~4.2k and 5.7k/
Halving will top itself at ~10.2 to 11k before crashing, if all goes to plan.
After Halving hash rates will dump, mining costs will double and hype will die down leading me to believe we may be headed for new lows "If" our next new low doesn't hold IE our next bottom between 4.2-5.7k.
Wave one = A) to B)
Wave two = C) to D)
Wave three is a bit more difficult here given the environmental circumstances in play:
A) Block rewards will be halving May/June
B) We will be entering into the cusp of a recessionary trend towards the end of 2020
"Which may or may not be beneficial for the health of BTC"
IE people may see it as a store of value/ people may not and decide to pull their money off the market to put it elsewhere.
C) A lot of new regulatory laws will be added into the crypto sphere, starting in 2020, which may be off putting for retail investors to get involved.
D) And of Course the usual F.U.D and F.O.M.O which is nothing new, just on larger platforms with a broader audience.
****Halving may have 2 different outcomes in my opinion****
1) We break for ATHs and break it completing wave three.
2) Halving acts as an extension of wave 2 and we head back down to retest our last low before completing wave three.
"with everything mentioned above we may see the market completely bottom out on itself, very unlikely but its something to look out for".
Feel free to comment below asking questions or showing your point of view.
As always good luck and safe trading.
Point A) on the charts are August 2015 lows
Point B) on the charts are December 2017 highs
Point C) on the charts are December 2018 lows
Point D) on the charts are June 2019 highs
We will bottom between ~4.2k and 5.7k/
Halving will top itself at ~10.2 to 11k before crashing, if all goes to plan.
After Halving hash rates will dump, mining costs will double and hype will die down leading me to believe we may be headed for new lows "If" our next new low doesn't hold IE our next bottom between 4.2-5.7k.
Wave one = A) to B)
Wave two = C) to D)
Wave three is a bit more difficult here given the environmental circumstances in play:
A) Block rewards will be halving May/June
B) We will be entering into the cusp of a recessionary trend towards the end of 2020
"Which may or may not be beneficial for the health of BTC"
IE people may see it as a store of value/ people may not and decide to pull their money off the market to put it elsewhere.
C) A lot of new regulatory laws will be added into the crypto sphere, starting in 2020, which may be off putting for retail investors to get involved.
D) And of Course the usual F.U.D and F.O.M.O which is nothing new, just on larger platforms with a broader audience.
****Halving may have 2 different outcomes in my opinion****
1) We break for ATHs and break it completing wave three.
2) Halving acts as an extension of wave 2 and we head back down to retest our last low before completing wave three.
"with everything mentioned above we may see the market completely bottom out on itself, very unlikely but its something to look out for".
Feel free to comment below asking questions or showing your point of view.
As always good luck and safe trading.
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