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With the ETF approval priced in, next thing is the upcoming BTC halving expected in April - but wat does this mean for the price of BTC?
When there's an unprecedented event that will affect the markets, it's helpful to return to the basics:
👉 Buy the rumor, sell the news
👉 Macro Analysis
👉 Candlestick analysis
👉 Buy the rumor, sell the news
The ETF was again, a perfect example of this. Although it's possible for the price to increase days leading up to the halving, from a previous analysis we determined that BTC usually drops before halving.
👉 Macro Analysis
Bitcoin is due for a correction / pullback. Even dropping to lower 30K zone would still be a lower high, classic Elliot Wave Theory before the next upwards impulse wave, which is the biggest ( wave 2).
👉 Candlestick analysis
BTC has made 8 consecutive green candles in the two week timeframe. A few red ones are definitely overdue. This will support as a "fundamental reason" for the halving drop.
NOTE that I am still BULLISH on BTC. We're in the opening moments of a new bullish cycle, but there are pullbacks and corrections in upward cycles - and I'm expecting that we're currently trading in correction wave 1-2.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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CryptoCheck
BTCUSDT BTCUSD BTCUSD BTCUSDT.P
With the ETF approval priced in, next thing is the upcoming BTC halving expected in April - but wat does this mean for the price of BTC?
When there's an unprecedented event that will affect the markets, it's helpful to return to the basics:
👉 Buy the rumor, sell the news
👉 Macro Analysis
👉 Candlestick analysis
👉 Buy the rumor, sell the news
The ETF was again, a perfect example of this. Although it's possible for the price to increase days leading up to the halving, from a previous analysis we determined that BTC usually drops before halving.
👉 Macro Analysis
Bitcoin is due for a correction / pullback. Even dropping to lower 30K zone would still be a lower high, classic Elliot Wave Theory before the next upwards impulse wave, which is the biggest ( wave 2).
👉 Candlestick analysis
BTC has made 8 consecutive green candles in the two week timeframe. A few red ones are definitely overdue. This will support as a "fundamental reason" for the halving drop.
NOTE that I am still BULLISH on BTC. We're in the opening moments of a new bullish cycle, but there are pullbacks and corrections in upward cycles - and I'm expecting that we're currently trading in correction wave 1-2.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
_______________________
📢Follow us here on TradingView for daily updates📢
👍Hit like & Follow 👍
CryptoCheck
BTCUSDT BTCUSD BTCUSD BTCUSDT.P Note
Definitely observing a bearish topout on BTC in the daily :Note
BTC possibly forming a H&S. Invalidated if the price closes above 44800:
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discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.