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Bitcoinhalving

Bitcoin | Has the Bull Run finally started?!It has been a great week since we wrote our last analysis! Not only Bitcoin was able to break through a number of important resistances, but the halving fomo also seems to khave started. As we wrote in our last analysis, Bitcoin fought for its Higher Highs (HH) at a price range of 6800. At that moment we did expect Bitcoin to drop slightly at the 6600 or 6200 level. We were wrong as Bitcoin didn’t even come close to this (lowest price was 6754). Fortunately for the Bitcoin holders, the price seems to remain higher. Bitcoin managed to raise 1500 dollar (21.72%) in just one week. We broke the last Higher High at a price of 7469, and pushed through the 8k resistance. In our post of April 16, we already mentioned the hash ribbon capitalization signal. On April 25, this signal turned into a buy signal and from that moment on, the price seems to continue to rise. The disappointing thing is that the volume is still lower than we would expect in an “breakout”. This could argue that this outbreak could be some kind of “fakeout”.But so far, Bitcoin’s price has remained stable and continues to rise. We can say that it seems that Bitcoin has finally broken its downward trend and seems to be starting a new Bull Run. With only 12 days to go before the Bitcoin reward cut, Bitcoin’s price doesn’t seem to be showing any signs of weakening anymore. Bitcoin could even rise above the 20 Weekly Moving Average (currently priced at 7878), and even pushed above the 200 Daily moving Average (currently priced at 7974). The 200 daily moving average is used to indicate when something is in a bull or bear market. And as long as we can stay above this moving average, we may find ourselves in a bull market again. If we check history, Bitcoin will not retest the 200 daily moving average for a few months after the breakout. If we see Bitcoin retesting this after a few days or weeks, it could be a sign that this was just a fakeout, and Bitcoin may again see lower prices again. But for now everything seems positive for Bitcoin, and we might see 10K sooner than later..! The next two weeks will be exciting for Bitcoin as more and more fomo will come in the coming days. All we need to be careful about is what will happen after the Bitcoin reward cut. We don’t know what traders will do and the price may drop after that date. A short overview: We are above the 20 Daily Moving Average (currently at 7226) We are above the 20 Weekly Moving Average (currently at 7878) We are above the 200 Daily Moving Average (currently at 7974) Bitcoin block reward will cut in half in 12 days Buy signal from the Hash RIbbon Support levels at: 7800 Resistance zones at 8400 Thank you for reading and let me know what you think about the upcomming halving!
BITSTAMP:BTCUSD
by CryptoUpdateCom
2
Ethereum (ETH): A significant wealth transfer to ETHBitcoin halving is estimated to be May 11th 2020 (source: www.buybitcoinworldwide.com) This could become the start of another huge bubble. Since 2016 (the last Bitcoin halving), Ethereum has had more positive exposure to the mainstream. The public is more educated on its usefulness and potential. It's become more legitimate. The bitcoin halving is going to have a tremendous effect on ETH and other altcoins. But the 2020 halving will significantly decrease the profitability of BTC mining. Alternatives will be in high demand especially those utilizing Proof-of-stake (POS). Ethereum is a front-runner.
COINBASE:ETHUSDLong
by traderman001
1
Special Halving 2020Halving is the pre-programmed halving of the reward for miners who extract the cryptocurrency by confirming the various transactions. This occurs approximately every four years (210,000 blocks). We have often heard of Bitcoin as digital gold, but why? Because just like gold, which is found in nature in a limited way, Bitcoin also has a limited offer of 21 million units, and precisely for this reason terms like "miners" and "extraction" are used to define who adds blocks and confirms transactions. Today we are far from exhaustion of the maximum offer, in fact it is estimated that the last Halving will take place in 2140, when the 21,000,000th BTC will be extracted. After that event miners will stop receiving rewards for generating new blocks, but will still continue to earn with the commissions that users will pay to confirm transactions. When is the next Halving scheduled? Since the birth of Bitcoin, there have already been two Halving events that have led to a halving of the miners' reward. In fact, when Bitcoin was launched in 2009, miners got a reward of 50 BTC per block; after the 2012 Halving it was reduced to 25 BTC , and in 2016 to 12.5 BTC . Based on current performance, the next Bitcoin Halving is scheduled for May 12, 2020, bringing the reward to BTC 6.25 . This will continue until the last Halving, which will reduce the reward to less than 0.1 BTC . The miners' economy The rewards of mining activity come from two sources, the reward for generating new blocks and the transaction costs. Rewards for new blocks As explained above, miners are rewarded with a fixed amount of Bitcoin for each block processed and added to the Blockchain. About every four years or so this amount is halved, but this does not necessarily mean that the reward is halved. In fact, if the price in fiat currency goes up, the reward will also go up despite the Halving; if the price goes down, the reward will go down more than 50%. Until now, as a result of this event, there has always been an appreciation of the cryptovauta: in February 2020 the value of the reward for new blocks generated was worth 10 times that distributed before the last Halving. Reward on transactions Each transaction included in a block contains transaction costs. On average, the transaction fee is 0.01% of the transaction value in USD, but this value rose to 0.06% during the 2017 bull run. Currently, transaction costs are not an essential income for miners, however, we believe that the importance of costs will increase as the reward obtained for the resolution of blocks decreases. In addition, the size of the commission can be set at the user's discretion, those who need a very fast execution can increase it so that miners process it in less time. The cost of the infrastructure Getting the reward for solving a block is a bit like a lottery and the odds of winning can be affected by the speed of calculation you have. In fact, if you have more computing power than your competitors you will be more likely to solve the block and get the reward. Also, the more efficient your machines are, the lower the production costs will be for the same draw. As blocks are added to the Blockchain (every 2016 blocks, or about every two weeks) the resolution difficulty changes. The difficulty tends to increase, so miners need to upgrade their hardware to remain competitive. nially it was possible to mine with the CPU of a simple computer, then switched to GPUs that offered a higher hash rate, and then switched to ASICs (powerful processors with an average cost of about 2,000 USD) that evolved over time. Usually, in anticipation of Halving, large mining companies start to get rid of old hardware to replace it with newer ones. This year, due to the COVID-19, delays in the delivery of the newest miners are expected, increasing the risk of losses in mining companies in the short term. The impact of Halving on price And here we are at the crux of the matter, which is what the impact of this event will be on the price of Bitcoin. Everyone knows that in the first two Halvings in Bitcoin history there was a strong bull run that led to exponential price growth - and many believe that this will happen again during the third one, between this year and next year. In this article, we look at the history and key factors that determined the two previous bull runs and compare them to this year's bull runs. Price history In the first Halving, which took place in 2012, the price of Bitcoin increased by 200x. This bull run started six months before the event and continued for another 12 months, before dropping 84% over the next 14 months. Similarly, in the second Halving of 2016, we saw the price rise by 4,000% and then plummeted from its peak in December 2017, as we all remember, burning 84% over the next 12 months. On this occasion the bull run started a bit late, two months before the event. At the writing of this article we are a fortnight before the third Halving and we don't cost any bull run, except for a rebound in the last two months following the major crash at the end of February. Volume history During the first Halving the average daily trading volume rose by 50% in the two months prior to the event, and continued to rise until May of the following year. In the second, they rose by 65% in the month before the event and 150% during Halving, only to collapse sharply afterwards. This year there was an increase from January, only to collapse with the arrival of the Covid-19 crisis. Macroeconomic factors During the first Halving, in 2012, the US S&P500 stock index rose by about 35%, while the price of gold fell by 20%. In the second, in 2016, S&P500 still had an increase of 30%, and the price of gold remained stable. It is not complicated to understand that today the times are different because of the global recession catalyzed by the Coronavirus. S&P500 suffered a collapse with a maximum extension of -31.32% YTD, and the price of gold increased by 22.26%. At this time of strong indecision investors will have to decide whether or not to invest, whether the time is right or not, and on which asset classes. The macroeconomic environment plays a key role and this year is not the rosiest. On the contrary, we are in recession and investors tend to liquidate and move capital into safe assets. When building a portfolio, an investment in cryptocurrency means reducing the size of another asset, so investors are forced to assess each factor and choose the most attractive asset in terms of performance and risk. As you can see from the volumes, the investment in Bitcoin has grown in recent years, demonstrating a greater interest from investors, who dedicate a percentage of their portfolio to cryptocurrency. Market Theories The first theory supporting a new bull run is based on supply: remaining at a constant level of demand, a halving of supply will inevitably lead to a price increase. But looking at the current numbers, the impact should not be as significant as the proponents of this theory claim. In fact, after Halving there should be a reduction of about 900 BTC per day, just over 7 million at current price. We are talking about less than 1% of the average daily trading volume of the past three months. The second theory is that of stock-to-flow, i.e. the current supply divided by the quantity produced in a year. This ratio calculates the number of years it would take, at today's production rate, to equal the current extracted stock. This ratio is used for all raw materials, including gold, which is why Bitcoin is called digital gold by many. This is why many people support the store of value theory because, as mentioned above, Bitcoin, together with gold, is among the goods with a limited supply. Nowadays BTC's S2F is about 27 years old, and is the highest of any precious metal except gold which is over 60. This value is very important, because it indicates the susceptibility of the price according to its production (the higher the number the less vulnerable the price will be). A contrasting theory to that of S2F is the EMH, the Efficient Markets Hypothesis, based on the idea that the market tracks information efficiently and therefore you have a quick reflection of the price news. Application of EMH on S2F theory: if we know that prices will go up according to this model and we buy before it does, this behaviour should push prices up and the increase should be reflected in today's price. Why is this not happening? One argument in defence of S2F is that the model is not yet known by most investors, and efficient markets need a knowledge of the fundamentals that are missing in Bitcoin. Conclusions We believe that over the last four years Bitcoin has grown considerably and has matured a lot financially. Regulated derivatives have emerged that can block future prices, and consequently change Halving's behavior. Despite the belief of some that the stock-to-flow model will remain and Bitcoin will be at $50,000-$100,000 shortly after mid-May, we believe that the price could rise just under 50% by this year to the dominant resistance levels. We will continue to analyze the charts and the macroeconomic situation day by day, using the movements to generate capital gains. Copyright © 2020 Cryptototrade.ch All rights reserved.
BITFINEX:BTCUSD
by cryptototrade_official
1
Follow carefully. ( posting it repeatedly because is imp. )follow me for more ideas till next Bitcoin halving. each and every entry exit point. PM me if you are in loss and want some advice. let me start boring discussion. ( but it’s very important ). as we know only 14 days left till the next historic halving event. We need to keep watching every move. as you can see crucial levels starting from supports 6500, 6800, 7400 and resistance levels 7740, 8100. 1. Btc is now at 7670. If it drops from the support 7450 then you can immediately exit and then wait for next sipport 6800. If it holds 6800 then you can again take entry. ( **remember when i say holds support that means minimum 6 one hour candles above that level). if it drops then take entries from 6500 support. 2. If it successfully raise and hold above 7740 and then 8100. then it will be a FOMO situation there. And price can see huge pump toward 9000 level. 3. If bitcoin remains between 7450 and 8100. We can expect mini bull run in major altcoins. like cardano( ADA ), komodo( KMD ), ontology( ONT ) and other good fundamentally strong alts. I hope you are clear about when to enter and where to exit. feel free to comment or contact me in PM for any doubt. If you like my ideas and watch my previous accurate guidance then follow me for more. Like share knowledge.
COINBASE:BTCUSD
by Harshgp
1
Re : Ultimate bitcoin price technical analysis. Hit follow 🥰follow me for more ideas till next Bitcoin halving. each and every entry exit point. PM me if you are in loss and want some advice. let me start boring discussion. ( but it’s very important ). as we know only 14 days left till the next historic halving event. We need to keep watching every move. as you can see crucial levels starting from supports 6500, 6800, 7400 and resistance levels 7740, 8100. 1. Btc is now at 7670. If it drops from the support 7450 then you can immediately exit and then wait for next sipport 6800. If it holds 6800 then you can again take entry. ( **remember when i say holds support that means minimum 6 one hour candles above that level). if it drops then take entries from 6500 support. 2. If it successfully raise and hold above 7740 and then 8100. then it will be a FOMO situation there. And price can see huge pump toward 9000 level. 3. If bitcoin remains between 7450 and 8100. We can expect mini bull run in major altcoins. like cardano( ADA ), komodo( KMD ), ontology( ONT ) and other good fundamentally strong alts. I hope you are clear about when to enter and where to exit. feel free to comment or contact me in PM for any doubt. If you like my ideas and watch my previous accurate guidance then follow me for more. Like share knowledge.
COINBASE:BTCUSD
by Harshgp
2
Ultimate Bitcoin Price Technical Analysis [Tutorial]follow me for more ideas till next Bitcoin halving. each and every entry exit point. PM me if you are in loss and want some advice . let me start boring discussion. ( but it’s very important ). as we know only 14 days left till the next historic halving event. We need to keep watching every move. as you can see crucial levels starting from supports 6500 , 6800 , 7400 and resistance levels 7740 , 8100 . 1. Btc is now at 7670 . If it drops from the support 7450 then you can immediately exit and then wait for next sipport 6800 . If it holds 6800 then you can again take entry. ( **remember when i say holds support that means minimum 6 one hour candles above that level). if it drops then take entries from 6500 support. 2. If it successfully raise and hold above 7740 and then 8100 . then it will be a FOMO situation there. And price can see huge pump toward 9000 level. 3. If bitcoin remains between 7450 and 8100 . We can expect mini bull run in major altcoins. like cardano(ADA), komodo(KMD), ontology(ONT) and other good fundamentally strong alts. I hope you are clear about when to enter and where to exit. feel free to comment or contact me in PM for any doubt. If you like my ideas and watch my previous accurate guidance then follow me for more. Like share knowledge.
COINBASE:BTCUSDEducation
by Harshgp
🥴 Bitcoin Pump Explained. What to do NEXT?! 😲Hello, Bitcoin is TOP gainer today, huh?!😃 In this video I explained Bitcoin price action. Support with Like 👍 and watch now about:👇 • What I should do NOW?! • Where should I sell?! • Where should I buy?! • What the next target?! • What is short term move?! • What is mid-term move?! I answered on these questions in this short 7 min video :) ☞ Consider ask questions in comments :) Follow my page to receive more updates and market exposure. This is Artem Crypto My latest bitcoin updates to like and follow: perfect shot: bullish engulfing candlesticks: April Trading Plan: Nice old study to learn about, this shape is very common on trendy markets: Cup and Handle, did you see it? Accumulation process still in the price: DISCLAIMER: If you following somebody with good Risk/Reward and Win Ratio. Without risk management and allowing yourself to lose some trades, you won’t be good trader/investor. Please don’t follow any analyst blindly on this website. Always use stop loss to prevent yourself from losses. Make sure you understand and afford the risk. Please. ATTENTION: Dear followers please consider to appreciate my ideas on tradingview with your likes, this will help bring more quality content in next trading ideas. And if new to my work, and you like it, you can Follow my page to receive ideas in your Ideas Stream. Thanks 🤝😊 If you scrolled to this point, well it is time to send comment haha:D
BITMEX:XBTLong
by ArShevelev
13
BTC's moment of truthHi guys! Please like the post and follow me if you find my post useful! Much appreciated Halving is just a few weeks away. The whole narrative about halving being BTC's watershed, a major turning point that would propel the next BTC bull run, has investors and traders anxiously waiting for the day of reckoning to arrive. Will it arrive on time or will it arrive late? Will it even arrive at all? Can the current consolidation and sideway movement be interpreted as the slow build-up toward the explosive price movement? Derivative market has been quiet and sending out mixed signals, with big three (Bitmex, Okex and Binance) all seeing increase in OI, but decline in volume. There are some good news on the institutional side. According to glassnode, the number of Bitcoin whales with at least 1,000 BTC to their name is now higher than at any point in the past two years. Both Grayscale Bitcoin trust and Grayscale Ethereum trust experienced record quarterly inflows of $388.9 million and $110.0 million, respectively, according to the most recent Grayscale report. In addition, 88% of investment in Q1 came from institutional investors, dominated by hedge funds, further signaling the increased institutional demand. Perhaps, coincidentally, last BTC bull run that started in Nov. 2015 was also initiated by the same low volatility market condition that BTC is experiencing now. Lastly, one can simply never overlook the power of the recent tether issuance. To me, the best long opportunity is 5.8k to 6.5k if the price gets there. This will be the first economic downturn in Bitcoin's history and how Bitcoin handles it will have the profound impact on the investor's perception of its scarce digital gold status. Some may say that it will forever just be the speculative asset and some may even argue that it will go to zero and that its whole 11 years of existence is just one gigantic bubble. Whatever the case may be, it will not be a quiet affair.
COINBASE:BTCUSDLong
by Libratus
1
BITCOIN APRIL UPDATEDo you like Coins? Do you like Bitcoins? Do you like Gains, maybe even sick gainz? Then I welcome you to this April update! I expect to visit 8600 area, to continue a bear motivated sideways trend, until we retest the latest low of 3600! Maybe we will bounce, go sideways and climb up again- or maybe we will bounce, restest the already weakened support of 3600 and dip lower...But important: 8600 area, the go down and see at least a 5 as the first number of the BTC price! We are discussing the current situation of Bitcoin in the perspective of the global economy, but also not missing on Technical Analysis! I hope you enjoy this one, I was thinking about getting more into major world indexes and making like all-around summary videos about the world economy and/or specific stocks and assets? What do you think, let me know in the commentary section or simply DM me, best, you german quality trader
BITMEX:BTCUSD.PShort
by GER-Quality-Trades
2
Bitcoin is in Wave CHi Guys, I was in doubt till February 2020 when bitcoin was trading above $7300 and touched $10500 for the 3d time, after when BTC dropped below $7300 I was sure that it will touch near $5500 (200 Weekly Moving Average) and next it went down from that level as well and touched 3850 and on some exchanges it touched $3770 as well. Now based on my analysis and market scenario I can say the drop from $19667 to $3156 was wave A of correction and that Wave B from $3156 to $13970 we have seen a very fast recovery from $3156 to $13970 (Usually Wave B shows this kind of Fast Recovery). And Now BTC is in Wave C where Bitcoin is ready to make a fresh low in next couple of months. As per my research Wave C usually Comes near to BTC halving you can see chart (1st halving - 2012, 2nd Halving 2016, 3rd Halving May 2020). Wave C always make a fresh low (it can go down by $1-$2 from its previous low $3156 , but it will make a fresh low). At present I am waiting for the right levels somewhere around $7935 to take a short position in BTC and will hold it below previous low $3156. As per my expectation recently Monthly 100 Moving Average is also started which is near $2750 in coming months we can we it around $2900 - $3000 level, market may test that level and try to consolidate near that. I HOPE BITCOIN WILL GO TO MOON SOON Regards, Crypto Money Mantra
BITSTAMP:BTCUSD
by cryptomoneymantra
7
Bitcoin Halving History And PredictionsCryptohopper Newsletter BTC has continued its rebound, and it is now 90% up from its lows this year at 3,800$. With the halving about a month away, many BTC enthusiasts and investors expect the price of the asset to continue its uptrend. Today we will examine the past two halvings and give out our predictions for how the third halving will play out based on the past data. Without further due, let’s take a look at the previous halvings and at our predictions for the third! First Halving The first Bitcoin halving occurred on November 25th, 2012. The price of Bitcoin before the halving was only 12$ . After the halving, the price increased by more than 9,000% to 1,160$ in about 1 year. This was followed by an 86% market crash over the course of 420 days. After a long period of consolidation of about 300 days, the price started to increase again before the next halving. Let's now take a look and see how similar or different the price behaved during the second halving. Second Halving The second Bitcoin halving occurred on July 9th, 2016. The price of Bitcoin before the halving was only 650$ (half of the previous high) . After the halving, the price increased by almost 3,000% (only a third compared to the other one) to 19,500$ in about a year and a half. This was followed by an 84% market crash over 364 days. After a shorter period of consolidation of just over 100 days, the price started to increase again before the next halving. Sounds similar? Well, that’s because it is. The price followed an almost exact pattern from the first halving. We will now move on to our predictions of the third halving based on the data gathered from the previous two. Third Halving The third halving is set to occur on May the 13th. If the third halving will follow the other two, then the price of Bitcoin should be around 9,000$-10,000$ around the time of the second halving (half of the last high). After the second halving, the price should increase by about 1,000% if it is to follow the tradition of increasing 3 times less than the previous halving. If all of the previous statements turn out to be true, then we could expect BTC to reach around 90,000$-100,000$ after the third halving. The price should then follow a correction of around 80% down to 20,000$ . In short: We expect the price to be around 9,000$-10,000$ around May 13th. We expect BTC to reach around 90,000$-100,000$ at its next peak. We expect the price to follow a correction down to 20,000$. These are of course our expectations based on how the price behaved over the previous 2 halvings. The price won’t necessarily occur following the exact steps we displayed here. As with technical analysis in general: the price tends to follow historical patterns but it doesn’t have to. If the price will behave similarly to the first two halvings, then trend-following indicators will be very useful in identifying the trend and riding to the moon. Join us on Cryptohopper today and take advantage of the next halving by automating your trading.
BITSTAMP:BTCUSDLong
by cryptohopper
4
BTC H+S? Maybe.Ok, we got the move i was expecting in my last post, so what now? I think we see the meme head and shoulders play out over the next week or so with a bounce and reversal from around the 5300 region (also the 200 week MA) I guess a lot of people will be looking at this too so let's see. Still got to be bullish going into the halving in the middle of May so i think any dip down into the mid/low 5's is for buying now. Should be an interesting month ahead for sure! Fun and games await!! Don't get REKT!
BYBIT:BTCUSD.PShort
by Trader_Bean
1
Bitcoin two logical scenariosSo many different opinions right now. How to decide what to do? We are in so called no-trade zone, impossible to predict the next movement. Rise or fall, nobody really knows. Majority of laverage positions were REKT already, more to come, I'm sure about that. So as a trader, back off & observe the situation. Whitin a week or two the new support and resistance levels will appear and it will be clearer how to trade. But as an investor, for me this is a big opportunity to accomulate. It is possible yes, that bitcoin falls to 3k level, uncertanty in the global markets is huge. It is also possible that we already touched the bottom, because many investors jumped in that crash and bought their fair share. One thing is clear, and has to be clear to everyone. After halvening event the price can't sustain under 5k. Just can't. It will cost more to mine / produce one Bitcoin. Simple logic. Miners can't operate if the ROI is negative. And Bitcoin can't exist without miners. The supply after halvening will fall drastically and with same demand as we have now, well that's pretty logic what that means. No other rule indicator is more important that the core workers of the blockchain network and their business model - ROI.
BITSTAMP:BTCUSD
by bloodgood
23
#bitcoin - Simple Macro (Weekly)Hey guys, let´s have look at our weekly macro chart for Bitcoin and only include the very basic information such as MA200, Bitcoin Halving, major long-term lead lines and Support & Resistances. Looking at this it becomes rather likely, that we will see the area between $6.8k and $5.7k for Bitcoin within this consolidation period. We are not very far away from this. We are likely going to breakdown the long-term lead line this week. What happens when we reached this area and what the halving is going to have for an impact, also taking the overall economic crisis into consideration, no one knows and I as usual refuse to make any assumptions here. What I am personally looking out for is a re-entry, as I am not a holder and currently trading with USD, but of course want to switch back to Bitcoin as my base-currency to increase. This is out of question at the current state. As usual I have marked significant prices for you with labels. Stay safe. Stay healthy. Trade safe. Neru
BITSTAMP:BTCUSD
by Gl4diator
6
MASSIVE BITCOIN SELL-OFF. WHERE AM I LOOKING TO GO LONG? So Bitcoin ploughed through all supports like they were nothing and totally rekt any breakout traders who traded that triangle breakout above 9200. Anyway, here we are. So what now? I think we are still at the mercy of global markets and are highly correlated to them. In the short term i think we still head lower into the monthly levels at around 7560 and then ultimately around 7150 ish before we see a substantial bounce and possible reversal into the halving. I will start scaling into a long in the box area on low leverage for a long term swing into and beyond the halving.
BYBIT:BTCUSD.P
by Trader_Bean
Bitcoin | Bull Flag Pushing to 9500Hello, support the idea with your likes and love to see your inputs in comments, maybe your view is different on price action — let me know. So in last update i was able to spot cup and handle pattern which bring the price up to 9000-9200 zone. But what about now? Now price extended to 9200 and I see developing Bull Flag pattern. Target for this pattern Measured by Height of Flag Pole and placing relatively the resistance of the flag. This gives us a target near 9650. To be safe split target zone to 3 targets at 9270 — 9393 — 9500. SL below 8800 for safety. reduce leverage if you not sure about whole market.
BITMEX:BTCUSD.PLong
by ArShevelev
16
Head and Shoulders, 14k is inevitableUnfortunately, many of my trades were taken off because I had linked my youtube channel to the trades. But I had previously talked about this head and shoulders forming at around 10k, now it seems the shoulder is intact, and this would be a fantastic opportunity to scale in at the last potential chance to grab bitcoin under 10k. This is at about the very low for this right shoulder. The downside is if we break below 7.8k where I'd reevaluate my position completely. I've began scaling in from 8.7 and 8.5 and my positions are finalized for the prehalving run. I expect bitcoin to be at about 20k on the second week of June and to top out sometime in June or July. 30k is very possible.
COINBASE:BTCUSDLong
by nostranomist
The last shakeout before the halvingWe are in the middle of the final shakeout before the May. We have two long term trends at play. We have the trend line that started from the Dec 2018 bottom, which later acted as support for the 2019 bottom and is likely to catch us again in this month around the 8000-8300 range. We also have the downward trend that began at the Dec 2017 top and was met again for the June 2019 top. This is strong resistance, however the upcoming bitcoin halving should give it enough buy side pressure to break through. Target of 12k at the halving. Please like this post if you found this information to be valuable. Please comment your thoughts below. I am not a professional or financial adviser. This is for educational purposes only and is not advise to buy or sell.
COINBASE:BTCUSD
by Phantez1075