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Halving2020

BTC Macro Wave 4: Short to 6400 or 4500?On the left is the entire history of Bitcoin. Overlaid is a 5 wave Elliott Wave impulse. It is bullish, obviously. I will clearly define each wave of the 5 wave impulse, and hypothesize about what lies ahead. Wave 1: 2011-2013, the first bull run in Bitcoin’s history Wave 2: 2013-2015, the first bear market that acted as accumulation for the massive Wave 3 Wave 3: 2015-2017, the bull run that defined Bitcoin; peaking around 20k Wave 4: 2018-2020, the bear market following the Crash of 2018. Wave 5: 2020-2022? The expected bull run following the 2020 Halving Let’s return to Wave 4. As noted by the chart, we are not finished yet. Historically, a period of accumulation precedes a bull run. Since December 2018 we have experienced higher lows and lower highs. In other words, we are “pinching” into a tight range. Imagine condensing the air of a balloon into a smaller volume… It wants to expand. That’s what is going on here. So this begs the question: where is the pinch point? The pinch point of Wave 4, that serves as accumulation for Wave 5, is where an accumulative trend ends. The purple trend line support from the peak of Wave 1, and the yellow trend line resistance from the peak of Wave 3 create the bounds of a Horizontal Corrective Triangle that is magnified on the right hand chart. This type of triangle is unique to corrective waves, such as W2 & W4 of a 5 Wave impulse. By now you are wondering, where the hell is bottom of W4? We want to start this W5 bull run already. Look over the left hand chart. From the peak of W1, two trend line supports (purple & red) can be drawn that touch various major support areas. For that reason they both carry equal weight. Target 1: The purple trend line support. The yellow trend line that we are about to tap (Wave D of the corrective W4), which extends from the peak of Wave 3, acts as major resistance. If we fail to break this resistance, then we will correct to the PURPLE LINE @ 6400 (Wave E of corrective Wave 4). Target 2: The red trend line support. Again, if we fail to break the resistance of the yellow trend line resistance from Wave 3 (Wave D of Wave 4), AND smash through the purple trend line support, then the next major trend line support is the RED LINE @ 4500 (Wave E of Wave 4). Regardless of the absolute bottom of Wave 4, we are going to the moon for the 2020 Bull Run! EASTER EGG: The URL attached is an image of the major phases of each 4 year cycle, from halving to halving
BNC:BLXShort
by Riester
1
Ethereum (ETH) & Crypto Market: BTC Halving dip then POP?!Bitcoin's 2020 halving is upon us. Let's watch as all other cryptos ride it's wave. While someone will fail to keep up, I think Ethereum is going to stick to it pretty closely. Here are some promising looking arrows that point down and up :D Could be a triangle, I don't f**king know LOL. I believe in Ethereum's blockchain technology. Watch the dip and profit on the pump up. The global COVID-19 pandemic is having unpredictable effects on the economy. Let's see how this plays out. It's going to be an interesting year.
COINBASE:ETHUSDLong
by traderman001
2
BTCUSDT 4H | Bitcoin price overview: UptrendOn the 4-hour chart, we see an uptrend that started yesterday with $9,000. At the moment there are no reversal signals, we touched the resistance zone from above - $9,800 - $10,100. The local resistance zone below is the price - $9,300. Our yesterday's review of the daily bitcoin market indicated the possibility of forming an upward trend, with a consolidation at 9.250, which happened. The bulls quickly developed the offensive and increased the price to 9,950. Before continuing the bull attack, we can observe a decline to $9,300. The fixation below will signal the formation of a downtrend, with targets $9,000 - $8,600. Wide enough range of falling before halving, formed a wide area for price movement, it is a good sign for traders, as high volatility promises good profit. Stay with us and subscribe to the channel!
Long
by CatalystsFinance
2
Bitcoin (BTC/USD): Accumulation before the next peak 2020-2021?Here's an update on my Related Idea: If the trends during Bitcoin's previous halvings tell anything, it's in the ~12 months following, Bitcoin prices experience a rapid bullish cycle. This cycle seems to proceed after a dip. I'm guessing this is a good place to accumulate more. This is all a guess. Let's be real, the halvings only happened twice. It's not enough evidence for a pattern. But if history rhymes, it looks like a breakout of this triangle around May 2021. Coincidentally, the triangle formation ends about 12 months from the halving. I *hope* for a breakout by this point. The next peak would tower over the last one. Thanks for checking out my chart astrology =) Let me know your thoughts.
COINBASE:BTCUSDLong
by traderman001
2
Bitcoin Halvings and Market CyclesBitcoin Controlled Supply Bitcoin are “minted” during the creation of each block at a fixed and diminishing rate. Each block, generated on average every 10 minutes, contains entirely new bitcoin, created from nothing. Every 210,000 blocks, or approximately every four years, the currency issuance rate is decreased by 50%. For the first four years of operation of the network, each block contained 50 new bitcoin. (Book: Mastering Bitcoin 2nd edition, page 215) Genesis Block , block "0", January 3rd 2009 Reward Era #1 Subsidy per block= 50 Btc Blocks {0 — 209999} Btc added= 10,500,000 Btc Halving 1 at block 210000, 28th November 2012 Reward Era #2 Subsidy per block= 25 Btc Blocks {210000 — 419999} Btc added= 5,250,000 Btc Halving 2 at block 420000, 9th July 2016 Reward Era #3 Subsidy per block= 12.5 Btc Blocks {420000 — 629999} Btc added= 2,625,000 Btc Halving 3 at block 630000, 11th May 2020 Reward Era #4 Subsidy per block= 6.25 Btc Blocks {630000 — 839999} Btc added= 1,312,500 Btc Halving 4 at block 840000, ETA May 2024 Reward Era #5 Subsidy per block= 3.125 Btc Blocks {840000 — 1049999} Btc added= 656,250 Btc Aníbal Santaella (@a_santaellas)
BNC:BLX
by anibalsantaella
1
When Can You Buy Cheaper Bitcoin? Short Vs Long Opportunities Good morning, everyone. How the halving works A quick recap, just so we understand what has fundamentally happened to BTC this week -- After every 210,000 blocks mined, or roughly every four years, the reward given to Bitcoin miners for processing transactions is cut in half. That means the rate at which new Bitcoin is released into circulation is reduced by half. In theory, this would have been a sell-the-news event, but we haven’t seen the expected sell-off just yet. In fact, Bitcoin appears to be climbing ever higher, toward 8900 - 9000. Bitcoin post-halving analysis Now with the housekeeping out of the way, let’s move into some Bitcoin analysis. During yesterday’s live stream, I made a quick short scalp trade at 8720 and got out at 8650. It was risky trading on halving day, but treating this as a fast in-and-out trade turned out to be a wise move. Since I took that scalp, the market has climbed near 9000 by late morning. Earlier this morning, the 15-minute chart revealed a key support-resistance (SR) level was being challenged, and because chances were higher for a breakout, I placed a long trade with a target in the area of 8975. Above that range is a good amount of liquidity consolidating from the past day of price action. A wick into that zone is likely to take out some of that liquidity and set us up for the next trade. Bitcoin is still too correlated to the S&P 500 to ignore traditional markets, and I will be observing the S&P 500 carefully for any sharp moves. Once equities roll over, BTC is likely to drop even harder. A longer-term view of Bitcoin. The Schiff Pitchfork reveals how BTC touched the 75% Fib for a perfect rejection. If the price passes 5000 or 4000, chances will be high for BTC to take out the low of the Coronavirus dump. The 4-5000 area is a strong support area, and if it cannot hold BTC up, that will be a knock-out blow for the asset. A break below that SR level opens up a target of 2400, then as low as 1400 below that. In the near term, as the price tests the 8900 region, the four-hour time frame shows that BTC is back inside the larger range at play since the breakout of the symmetrical triangle from a couple of days ago, and the price is under the EQ signified by a white dashed line in the image below. The lower bound of the range is around 8386, while the high of the range is about 9490. A break above the EQ this morning gave a target of 9490, whereas if the price eventually breaks below 8386, I'd like to short down to about 7900 - 7800. RSI remains bearish on the four-hour time frame while the recent daily candle printed a Doji, meaning overall price action is neutral to bearish from that perspective. Bitcoin finally printed a red weekly candle after eight straight weeks of bullish upside. I see no strong support on the way up from a weekly perspective, so once Bitcoin starts to slide, I’m expecting it to slice through several SR levels. Be careful if you are trading Bitcoin this week, if only for those reasons. To answer the initial question, “when can we buy cheaper Bitcoin?” Asset manager Leah Wald tweeted today that the Bitcoin halving event is not a strong buy signal, and I’m inclined to side with that. Since the price crash in March, Bitcoin has lived in a risk-off environment meaning that it will not fare well when US equities start to downtrend. Be careful when trading illiquid, speculative assets such as BTC in times like this, when nobody can make a sensible prediction of where these markets are going to go. Therefore, the best time to buy Bitcoin at cheaper prices is likely once we’re deeper inside the trough of an overall economic downtrend. I am trading level-to-level with much less capital than I was prior to the economic downturn, so until prices slump lower with equities markets, Bitcoin to me remains overpriced.
BITMEX:BTCUSD.P
by TheAlphaTrades
1
Bullish wave still have the last one, the upper space is limitedFrom the chart, it's easy to see that trend is moving in the 4th wave, using theory of 5 waves theory, there should be the last bullish wave currently, however, the last bullish space shouldn't be expected too optimistic, investors could directly focus on 10500 if the next rebound can happen and stabilize on 10000. Halving will be end in today and the halving effect and profit has been digested by the market, i believe that trend will come into another 3 waves pullback waves after the next bullish wave recently. Bullish traders can still have the last chance to build positions around 8200~8450, and close at 9000 and then 9400, the current 4th pullback wave may still last for a period, may be before this weekend. So investors should be patience and also should notice that if this 4th wave fall to 7500, may means that this pullback wave can be a expanded one, will last longer than expected.
by Zeus1110
The HALVING and the CHARTWhat are the expectations towards BTC now with the halving? Well, if we look in the long run, BTC has a lot of potential and the theories about it hitting U $ 50k (and beyond) are not so insane anymore . But what the chart can tell us? Look at the weekly chart. BTC is trapped inside a descending channel for almost a year now, and last week did a candle that’s not good. We can assume it's a pullback, because the price needs a rest after such a bullish move, and that’s alright. But we need to escape that channel! Despite last week’s candle, there are reasons to believe BTC will rise again. See the volume? Unlike the last bullish trend (purple rectangle), the last bullish move had a good amount of volume, a sign of interest in the crypto. During a lot of weeks the volume was low, and now we see a sudden raise, and just like the father of technical analysis, Charles Dow , said about a century ago: “The Volume Must Confirm the Trend”. We should not get disappointed with that recent drop of the prices and think of it more like an opportunity to buy BTC at a lower price. I’m optimistic towards the crypto, and in my view, we haven’t seen the real potential BTC has yet. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
BITSTAMP:BTCUSD
by Nathan_The_Finance_Hydra
5