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Halving2020

Bitcoin is re-testing its “Legacy trend-line”Everyone is so excited about Bitcoin halving. Many traders compare fractals from 2015 to what is happening right now, but everyone fails to look at the bigger picture properly. The most important difference between halving in 2016 and in 2020 is the preceding trend. When you compare weekly RSI trend in 2020 and in 2016, you will see that we are still in a downtrend since June 2019, because Bitcoin couldn’t break above the red line on RSI indicator, while in 2016 there was a clear uptrend before halving. There is one single line which defined the entire uptrend of 2016-2020. It was acting as a strong support in Dec’18-Jan’19 and also in Dec’19. However, in March 2020 Bitcoin broke below the black line and now it is acting as a strong resistance. In technical analysis, it is common for price to re-test the trend-line after its penetration, and more often than not price fails to get back above the trend-line. One thing we know about halving is that the price will increase IF demand stays the same, but since June 2019 demand has been declining, sometimes too much, which triggered a short-term rally. Needless to say, global economic conditions are entirely different from what we had in 2016. Most people say that crisis will increase Bitcoin price because of instability of the financial system. However, I don’t agree with this statement because price can only increase when people buy an asset, and during a crisis or a recession people have different priorities and they just don’t have enough money to buy financial assets. We had a short-term rally after March sell-off, let’s see what happens next.
BITSTAMP:BTCUSD
by VovaNapas
1
BTC - Bitcoin futures S/R zones Hello traders, Description of the analysis: Bitcoin futures main S/R zones before halving. About me: Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (4 000 000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades. Jacob
CME:BTC1!Long
by Jacob_Kovarik
BTCUSD ; time to fill the CME GAPDrawing the fib from the bottom of the candle, that broke the resistance, to the highest point present. We can see the fib 78.6% lining up perfectly with the CME GAP, marked as the red zone (found on BTC1! 4H timeframe, price 7625-645, gap on so to say 25th of April). As the area is now acting as support it would be ideal to go long from there. Also the 200 MA is creeping up slowly to that point. NB! No trading advice, do your own analysis!
BITFINEX:BTCUSDShort
by XRPhoenix
BTC still haunted by 2017 crashI will admit it.. I was dead on wrong in my latest post. Being nearly flawless in all my other analysis. The post before this was my first wrong. All other calls have been dead on. Luck or a good analysis or just both, I don´t know. Im pulling back being bullish, even tho a halving is coming in May.. This Black Swan event with Covid 19 and everything just totally changed the game. Im in a neutral position right now. For the time being I believe having patience with stacks on the sideline might be a genius idea or it could be the dumbest move done in a long time. Putting speculation aside tho.. Looking more objectively on the trajectory of BTC, we can see that the crash of december 2017 is still lurking in the dark. Take a look at the how smooth the top trendline from 2017 is still not broken. Only if BTC will break this significant area of super resistance, we might witness the strength of BTC again. On the other hand we might just aswell see BTC fizzel out over time below the trendline. Trade carefully.. I would in this case scale in slowly and only midterm for now taking profits now and then. Don´t get emotionally attached to the halving, this time might not repeat history. Only time will tell.. Safe trades.. Regards Mr. Project.
COINBASE:BTCUSD
by Mr_Project
1
BTC the Black Swan event cannot stop Bitcoin PhoenixI guess I was forcasting pretty well in my scenario 4 on March 12, 2020. Bitcoin was scared a lot of the black swan called Corona that day. Yesterday the Phoenix called Bitcoin as risen from the ashes again ready for the halving rally in the next weeks. However it is important for Bitcoin to break the $10,000 mark, better yet hit the $11,000 marker to turn on the halving boosters. I will emphasis this point. In what other market can you achieve such margins?
BITFINEX:BTCUSDLong
by CarpeMomentum
1
Bitcoin (BTC): Symmetrical Triangle + Bitcoin Halving eventA symmetrical triangle is evident, which means drastic price change in either direction. Looking back at BTC history and previous Bitcoin halving events (every 4 years), the price starts to increase about a year after. The upcoming BTC halving event is estimated at May 11th 2020 at block 630,000 (source: www.buybitcoinworldwide.com). So, will BTC skyrocket? Or will mining hit the unprofitable threshold that will shift demand to altcoins?
COINBASE:BTCUSDLong
by traderman001
BTCUSD PRICE PREDICTION OF $70k FOLLOWING MAY 2020 HALVING Some confluences are showing up in my macro TA of BTC/USD that I thought I would share. Based on the ratio of percent increases from previous BTC halvings to the following ATH's within that halving period I have ascertained a target of $70-72k/BTC. I have aligned Fibonacci levels to the target which shows confluence with previous price history being respected. I have assessed the ~85% bear market retrace from the target which also shows confluence with the recent June 2019 high zone of $13-14k flipping from resistance to support. I have looked at the number of months from previous BTC halvings to the following ATH's in that BTC halving period and applied that basis as an estimate of time for the target of $70-72k to be hit, 1st BTC halving 12 months, 2nd BTC halving 18 months and for this BTC halving 24 months giving a date of May 2022 for this target to be reached. Enjoy the read.
BITSTAMP:BTCUSDLong
by BelsizeLion
1