Bitcoin 2020 Halving Long Strategy
Updated
Last 132 days before Bitcoin Block Reward Halving and what levels we should watch for our swing longs?
As we know from the latest halving in Litecoin price has grown tremendously before its halving. Bitcoin as a major currency should follow the same path.
There are three main areas where to look for:
1) Firstly, weekly resistance at $7880 which holds pretty well. You can long only until this level will be flipped and tested as a support, the so-called S/R Flip. Not before because you would long into resistance.
2) Secondly, I am seeing a good opportunity for your spot buys at $5300-5600 level. This level has confluence with 79% retracement from the swing high.
3) Thirdly, retraced the whole rally from the last year and find support at $4000. The market would be fully balanced and Bitcoin would be in extremely discount + halving at the doors.
Remember that during the next two quarters the halving will happening. If the first Quarter, now, will be followed with more downside momentum we can expect to buy opportunities at our two keys support.
+400% Rally in Litecoin had started at the end of January 2019. If Bitcoin price would follow the same suit then price should hit $21 000 (which is also confluence with the Fibonacci extension of -127% level).
__________________________________________________________________________________________________________________
I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content.
Telegram: t.me/ADA_Public
Twitter: twitter.com/trader_ada
As we know from the latest halving in Litecoin price has grown tremendously before its halving. Bitcoin as a major currency should follow the same path.
There are three main areas where to look for:
1) Firstly, weekly resistance at $7880 which holds pretty well. You can long only until this level will be flipped and tested as a support, the so-called S/R Flip. Not before because you would long into resistance.
2) Secondly, I am seeing a good opportunity for your spot buys at $5300-5600 level. This level has confluence with 79% retracement from the swing high.
3) Thirdly, retraced the whole rally from the last year and find support at $4000. The market would be fully balanced and Bitcoin would be in extremely discount + halving at the doors.
Remember that during the next two quarters the halving will happening. If the first Quarter, now, will be followed with more downside momentum we can expect to buy opportunities at our two keys support.
+400% Rally in Litecoin had started at the end of January 2019. If Bitcoin price would follow the same suit then price should hit $21 000 (which is also confluence with the Fibonacci extension of -127% level).
__________________________________________________________________________________________________________________
I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content.
Telegram: t.me/ADA_Public
Twitter: twitter.com/trader_ada
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