Bitcoin pre/post halving behaviour
Updated
This chart shows us the Bitcoin pre & post halving behaviour prediction.
Right now Bitcoin is sitting on a support trendline and could re-test previous resistance levels.
First it should break "key resistance" so the bulls could place their orders more confidently. And after that we have a major resistance which could be eventually broken too (due pre halving hopium)
After that the price could react to "sell the news" because closer we are to halving event, the more media coverage will get. And for that, big players could dump the price to them.
Right after the halving event we could see some sell off, some miners will be obligated to sell instantly to cover all expenses, many could go out of business. But the big ones will have to support the price afterwords so the levels would be still
near profitable, just to shake out the competiton and not to screw themselves with lowering price too much.
So after that shakeout we could see a fast climb toward 9k level, where is also a huge cme gap.
Let see how the events will develop.
Share your ideas regarding pre / post halving !
Right now Bitcoin is sitting on a support trendline and could re-test previous resistance levels.
First it should break "key resistance" so the bulls could place their orders more confidently. And after that we have a major resistance which could be eventually broken too (due pre halving hopium)
After that the price could react to "sell the news" because closer we are to halving event, the more media coverage will get. And for that, big players could dump the price to them.
Right after the halving event we could see some sell off, some miners will be obligated to sell instantly to cover all expenses, many could go out of business. But the big ones will have to support the price afterwords so the levels would be still
near profitable, just to shake out the competiton and not to screw themselves with lowering price too much.
So after that shakeout we could see a fast climb toward 9k level, where is also a huge cme gap.
Let see how the events will develop.
Share your ideas regarding pre / post halving !
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We can see a morning star pattern so we can expect continuation of uptrend.
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