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Bitcoinhalving

What is Bitcoin Halving?Bitcoin halving is a significant event on the Bitcoin network every four years. During this event, the block reward that miners receive for verifying transactions and adding new blocks to the blockchain is reduced by 50%. This means that the rate of new Bitcoin creation slows down, and the total supply of Bitcoin approaches its maximum limit of 21 million. Bitcoin halving is a programmed event and is built into the Bitcoin protocol to ensure that the inflation rate of Bitcoin remains controlled and predictable. The reduced rate of new Bitcoin creation and the expectation of scarcity can increase the value of Bitcoin, which has historically led to an increase in the asset's price in the months leading up to a halving event. Despite this, the market can be unpredictable, and the impact of halving Bitcoin's price is not guaranteed. However, the reduced supply of Bitcoin resulting from halving helps to maintain its value and ensure that it remains a finite and scarce asset. The previous Bitcoin halving occurred on May 11, 2020, at a block height of 630,000. At that time, the block reward for miners was reduced from 12.5 BTC to 6.25 BTC per block. This was the third halving event in Bitcoin's history, following the first halving in November 2012 and the second halving in July 2016. The next Bitcoin halving is expected to occur in march 2024, at which point the block reward will be reduced from 6.25 BTC to 3.125 BTC per block. After the first Bitcoin halving in November 2012, the price of Bitcoin increased by over 8,000% over the following year. After the second halving in July 2016, the price of Bitcoin increased by around 2,500% over the following 18 months. After the most recent halving event in May 2020, the price of Bitcoin initially experienced a slight drop but quickly recovered and went on to gain over 300% in value over the following year, reaching an all-time high of over $64,000 in April 2021. Thanks Hexa
INDEX:BTCUSDEducation
by HexaTrades
16
Analyis of BTC Reactivity Zones using Time based FibonnaciImportant to Note: WEEKLY CHART BTCUSD 4 red circles 2 time-fib zones marked by grey 0 ranging from year 2017-2025 1 fibonnaci retracementt zone represents last low to high price 2800 -6900 2 black horizontal lines representing buy zone Analysis is not trading advice and subject to change. 1. Fibonnaci retracement tool marked from previous low to high of price 2800-6900 shows price breaking below previous low 2800. I decided to trace back for possible zone price would likely revisit, see RED CIRCLE 1. Circle 1 shows key price action at 1981 where BTC experienced its first major "bull run" July 2017, however, this zone was NEVER retested despite todays current price action with recent high of 6900. Thoughts: based on retracement tool price will seek to react at extension level at price 14500 or react at price 1989 based on market structure. 2. For time based fibs (do your own research for understanding). Based on RED CIRCLE 1 in year 2017 the first time based fib indicates high to low at that point. Time fib tells us that number 1-8 are irrelevant and to look for price action at numbers 13, 21, 34, 55 etc. RED CIRCLE 2 indicates BTC second "bull run" at number 13 indicated by vertical blue line. Today, 5 years later we are approaching RED CIRCLE 3 at number 21 on time fib. Thoughts: based on price that never retested the zone is still valid for buy entry and we are preparing to experience reactivity. 3. Since time based fibs proved to be true for 2017 previous bull run, i decided to compare most recent low and high price 2800-6900 using time fib, indicated by second grey zero vertical line. Again, time fib tells us that the numbers 1-8 are irrelevant and to look at price action at numbers 13, 21, 34 etc. It is key to note that at RED CIRCLE 4, number 34 and 13 create an overlap in both time based fib analsyis. This overlap also occurs 5 years from today just after the next BTC halvening event. Thoughts: based on ideas of time based fib we see multiple overlaps in MAJOR chart events expected to occur in future. Conclusion: Im looking for price reactivity for BTC within the next month (not a prediction) and will utilize 14500-2000 as a potential buy zone for the next bull run over the next few years. I don't predict the chart, I just react to it, Happy Swing Trading :-)
COINBASE:BTCUSDLong
by TeeAmoretta
Long term Bitcoin forecastIt seems that we are in a Bitcoin drawdown right now, but there is hope on the horizon (well 2 years from now). At each halving Bitcoin has rallied higher and hit a new all-time high. This cycle lines up with the presidential election years. So you may want to DCA(dollar cost average) into BTC now. The three instances are 2013, 2017, and 2021 when the Bitcoin rallied after halving in 2012, 2016 and 2020. So the next halving is in 2024 which possibly means a rally in 2025 to new all-time highs. Bitcoin is deflationary and could be welcome at a time of high inflation so lets pray and wait, and hope bitcoin hits $500,000.
COINBASE:BTCUSDLong
by forexmilitia
1
Understanding 2022's Relation to the 2024 Bitcoin HalvingUnderstanding 2022's Relation to the 2024 Bitcoin Halving January 15, 2022 Current Bitcoin Price: $43k CRYPTOCAP:TOTAL $2.074T Bitcoin's Halving Cycle As I've mentioned since 2017, BTC halving events are fascinating - many know the past events have started with a trend low roughly 2.5Y prior, and finish approx. 1.5y at a new ATH. That trend seems to be holding true in 2022, in its relation to the 2020 halving event as we start to prepare for the event in 2024 that now lies ahead. While this post does not dive into the skepticism surrounding the BTC Halving events as valid events for analysis, note that I will comment on the fact these trends are yet to be proven as obsolete. Mining represents the demand for bitcoin globally, and the increase of scarcity drives the demand for more supply upwards and hence price action results in a slingshot upwards. Also, know that until we experience an event that is different, the following is true: Bitcoin price at the next halving event is always around 60% of the then ATH, and on its way up towards that ATH before slingshotting above for the year and a half after. About the BTC Halving In summary (for those who don't know) - Bitcoin halving events are when the rewards for mining Bitcoin transactions are cut in half. In theory this is a counter-measure taken to inflation, keeping price representative of 1BTC now = 1BTC later (as opposed to $1 USD now = $0.94 later etc.) The network cuts these rewards in half every 4 years and each 1.5 year period thereafter has seemingly provided a pricing 'boom' of sorts in which the bubble re-inflates as the price skyrockets in our fiat values. The first event was in 2012, then 2016 and 2020. There are consistencies and trends in price action that have emerged through these events. Any price estimations for these halving events are purely skeptical, but worth noting the similarities in them, as orders around these levels seem to fill each time and be in the approximate 'bottom' for the ensuing bull run. Expectations for Price Action 2022 Entry Levels If setting a buy in 2010 at $0.30 would have been considered a low bid, and the same for $300 in 2014 and another for $3000 in 2018, then strategically speaking, setting a buy at the $30k level for 2022 to fill for the halving event in 2024 would be both strategic and realistic. 2024 Halving Expectations As with every other halving on record, I'd expect the price of BTC in March 2024 to be at the current all time high of $69k. This is consistent with what we've seen in each of the previous three in which we see price reclaiming the-then ATH before continuing upwards in price discovery to its future ATH. 2025 Exit Levels If we hypothetically enter a bitcoin long in 2022 between $30k-$35k, and the same trend continues to be at $50k/$55k by March 2024, then expect by end of 2025 to be taking profits if you hold the same trade open (i'm sure nobody will, i'm speaking to a hypothetical scenario of course). Cheers 🍻
INDEX:BTCUSDLong
by kingthies
3
ETHBTC Forecast based on Cycle HistoryI charted this on 20 May and had not looked at it since. What I wanted to know was should I be holding more BTC, or more ETH? What will grow more according to the charts regardless of my opinion of their fundamentals or adoption ? If the charts are a representation of the psychology of the masses, then psychology tells us : the best prediction for future behavior is past behavior. Thus, I'm a big believer price action rhyming with previous BTC halving cycles. You've probably heard chartists say "history rhymes but never repeats" While I am aware that ETH was just getting started in the markets peak in 2017/2018... and it will likely far outperform BTC, I have charted a conservative forecast mimicking the previous cycle. I've pointed out the previous ATH of BTC and ETH as well as where I think we can expect them in the months to come. The past 2 seem to have been on track in a general sense. Let me know your thoughts
by THE-GERA
3
BTC 2016 Halving VS 2020 HalvingBack in 2016 bitcoin had its halving day on the 9th July. After this bitcoin began to rally all the way to $19,000 over approximately 518 days. A percentage increase of 3,192%. If we compare this to the halving in 2020, apply the same principles and look at the bigger picture than its clear that bitcoin has only just began its newest bull cycle. If we were to see similar results to the 2016 halving that would mean BTC would reach almost $320,000... Whilst this seems like a million miles away think first about how far the crypto industry has come with Teslas purchase being the prime example. This is my speculation and would love to hear what people have to say in the comments.
COINBASE:BTCUSDLong
by OX_Trading
2
Bitcoin long term analysisHey everyone! Here is a bitcoin chart i put together on BNC:BLX We can clearly see bitcoin is following its usual cycles, just as most trader expected :) Something interesting i noticed was the following: Halving 1: It took 3 months to break the previous all time high after the first halving Halving 2: It took 6 months to reach the previous all time high, and approx. 9 months to break the overhead resistance after the second halving Could a similar pattern continue? Maybe this time we need to wait 9-12 months after the 3rd halving to break $20 000? This would put a bitcoin breakout somewhere between February and May 2021. This makes a lot of sense to me as bitcoin becomes more mainstream, gains liquidity and the volatility lowers. Let me know what you think! When will bitcoin break $20 000? Cheers. Happy hodling If you like my bitcoin charts! bc1qrp8ajsj46dutllyuxch226qac3nce2e0t53t96
BNC:BLX
by ctuckett
Bitcoin Halving Comparison, So Far So Good!History tends to repeat itself, and the bitcoin halving appears to be no exception to this particular rule. In 2016, during the second BTC halving, the BTC price experienced strong growth before the halving. A bear market followed, consisting of a 40% drop in price from the pre-halving high to the post-halving bottom. Afterward, a lengthy ranging period ensued. Before the third halving that took place in May 2020, Bitcoin also experienced strong growth of more than 150% from $3,800 to $10,000; just like in 2016, a fast crash followed just before the halving. However, the 2020 crash was truncated and nowhere near as severe as the bear market that traders saw in 2016. Based on this comparison, we can infer that a short correction may follow before the bull market commences. Bitcoin is currently experiencing a range. It took BTC around 160 days to break through the highest price before the halving. We currently sit at 67 days after the halving. While Bitcoin cycles are similar, they are not the same. While it would be impossible to predict accurately when the bullish market will start, based on past trends we can predict that it will most likely occur somewhere between 100-200 days after the halving (or 30 to 130 days from today).
BITSTAMP:BTCUSD
by cryptohopper
3
Bitcoin to $10600 | RSI Overbought Range High - $9940 Range Mid - $8760 Range Low - $7560 Price action will be ranging in the zones mentioned. Resistance - $10630 Bollinger Upper Band, Previous Resistance, Diagonol Resistance and MACD supporting this level. Make or Break Line - $9350 Monthly Open, Weekly Support and Daily Wicks are holding this area as a Make or Break Level for Resistance. Price Patterns Giant Ascending Triangle is in play. Broadening Wedge will be violated once the MACD Bullish Cross is printed on Weekly Chart. 0.618 is lying between Range High and Resistance. MACD Bullish Cross Bullish Cross is violating the Broadening Wedge and any downtrend from $9350 RSI Possible formation of Broadening Wedge and once again RSI will be Overbought. Breaking above downward channel taking place. Volume Price action is trending with higher highs and higher lows but volume is flat on weekly. Summary We are going to $10630. This week close will determine how quickly we will get there. Closing above Make or Break Line will make it quick. Closing above Range Mid would delay the testing of $10630
BITMEX:BTCUSD.PLong
by Good_Trading_Calls
1
$NEOUSD | Time for next big wave? $NEOUSD | Time for next big wave? Hello friends, After a few hectic weeks due to the coronavirus, I am back with some analyzes. First of all i will say that performance out of the past not gives any garranty for the future. Currently we see some upside movement on $BTC. Also some altcoins are already exploding a little bit like ZILLIQA. We are currently in Bitcoin's halving and will start moving slowly upwards from now on. Still, I think the ALTS can give the first blow if levels are broken. This NEO prediction is long term. And I just want to emphasize that I don't think $ 700 NEO is possible this year. I put the pattern here purely because it is POSSIBLE. But that we will get a new ATH someday I am convinced with this great project. Maybe we will be surprised again what we will get for gains this year. I definitely see a $ 1000 NEO in 2021/2022 so let's keep a close eye on it. Good luck! FOLLOW & LIKE. (Leave your long term charts!)
NLong
by Mikki0416
3
Trading The Bitcoin HalvingCryptohopper Newsletter Market Analysis After failing to break the resistance around $10,000, Bitcoin is closing in on the support level at $8,000. Bitcoin has had a correction after the last halving, so a short bear market scenario is not out of the question. The first and second halving overall provided some excellent opportunities for position traders. Today we will look at a strategy that would have increased your account by 3,500% if you had used it during the last halving! If you had bought $1,000 Bitcoin in September 2016 at $600 and held it to the top in December 2017 at $19,600, you would have made about 3,150% , and your account value would be 31,150$ . Most people will call this utterly unrealistic , as it is almost impossible to buy something at the bottom and hold it all the way to the top. However, what if we told you that there is a strategy that would have increased your account even more during this period? Position Trading A position trader is an individual who holds an investment for weeks or even months at a time. They are not concerned with the short term fluctuation and aim to catch the more significant swings in the market. According to Investopedia, most position traders place less than ten trades a year . So how can someone who barely trades beat a very bullish market? That’s what we are going to find out int he next section. Position Trading Strategy Our goal with position trading is to catch the bigger trends. Therefore trend-following indicators are the most appropriate to use in this case. In our case, we will use the crossover of the 5 and 25 Exponential Moving Average (EMA). When the 5 EMA crosses over the 25 EMA upwards, we will take a long position, and when it crosses it downwards, we will close our position. This trading method will allow you to ride each swing almost to the top. Then, if you have 1,000$ and you made the following 5 trades with these gains: 58%, 36%, 132%, 90%, 270% then your account will look like this: 1000$ * 1.58 * 1.36 * 2.32 * 1.9 * 3.7 = 35,046$. This strategy provides an even greater reward than if you would have bought at the bottom and held all the way to the top. Simultaneously, it is a lot more realistic as it is a simple trading strategy based on the EMA crossovers. Other trend-following indicators that you can use are the SMA, DEMA, TEMA, KAMA, MESA, Parabolic SAR, Ichimoku Cloud, T3, WMA, etc. All of these indicators are available at Cryptohoper, along with many more.
COINBASE:BTCUSDLong
by cryptohopper
2
Post Bitcoin Halving Drop ???Hi friends hope you are well. Today I want to discuss that is it necessary for the Bitcoin to drop pre or post halving? In order to understand this principle we need to see the previous Bitcoin halvenings then we will move to the current having. If we watch the Bitcoin halving 2012 then we can observe that before halvening the price action dropped more than 25% and this bearish move was ended before the halving. On the other hand if we watch the Bitcoin halving 2016 then the price action started dropping down before the event and this bearish move was continued even after the halving event. During this drop BTC lost more than 40% of its value. Now if we move to the current halving event then it can be seen that before halving we have witnessed a very strong bearish move that leaded the BTC more than 65% down in the March 2020. Most of the traders say that this drop was due to the world pandemic issue. Therefore it is possible that this down move doesn't have any connection with pre or post halving drop. If we accept this then we can expect that the drop has been started since 8th of May when the price action reached at $10000 and started dropping down. The exponential moving averages: Moreover if we see the movement of price action with the exponential moving averages with the time period of 10 and 21. Then it can be seen that in 2012 the EMA 10 crossed down the EMA 21 before the Bitcoin halving. And after the halvening we can observe only a weak downtrend and during this weak trend the EMA 10 went very close to the EMA 21 but did not form a bear cross. After that both EMAs started moving up and then Bitcoin achieved more than 10000% profit within next one year. On the other hand in 2016 we can see that the EMA 10 formed the bear cross with EMA 21 after the Bitcoin halving then again the exponential moving average 10 crossed up EMA 21 and Bitcoin achieved more than 3000% bit gains within next one and a half year. Now let's move to the Bitcoin halving 2020 then it can be clearly seen that at this time EMA 10 is moving down and likely to form a bear cross with EMA 21 very soon. Even though the new candlestick has been opened below the EMA 21 but we cannot consider that the price action has broken down this EMA unless this candlestick will be completely opened and closed below exponential moving average 21. And we should wait for the death cross between two these two EMAs then we can expect a further very strong downward move before any long term bullish movement after Bitcoin halving. The price action may follow the relative strength index trend: In my previous post we have discussed that if the RSI is in downtrend but the price action is moving sideways or upward then finally the price action embrace the signal of relative strength index and it also moves down. At this time we can see that the RSI is in down trend even and this trend can be seen even on the daily chart, therefore the price action can start a downward move at anytime. However if the RSI will change its trend then the price action might not move down. Up channel: As we have already seen in my previous post that the Bitcoin has formed an up channel on the daily chart. And after hitting the resistance at $10,000 the price action drop down at the support of this channel. This time the price action is moving with the support, therefore there can be chances that the priceline will move up again from here to hit the resistance of the channel. But if the support of the channel will be broken down then the leading cryptocurrency can start a strong bearish rally. Bullish pennant: On the other hand on the same daily chart the price action of Bitcoin has formed a bullish pennant. At this time the price action is at the support of this pennant. And after hitting the resistance at this time BTC is at the support of this pennant and the green bullish candlesticks are appeared showing the tendency of the priceline to move up. The support of this pennant is also very critical if it will be broken down in the price action can start a strong bearish move as we have discussed in case of breaking down the channel support as well. The formation of bullish BAT: Now I would like to drive your attentions towards a very important move and that is the formation of bullish BAT pattern on the daily chart. At this time priceline of BTC is forming the last leg of this is BAT. And for the completion of this final leg we need the retracement between 0.786 to 0.886 Fibonacci sequence that starts from $8500 and ends up to $8300. If the price action will complete this is BAT that then there will be strong chanes that the price action can start a very strong bullish move from the potential reversal zone of this bullish BAT pattern. However the potential reversal zone of this pattern should be considered as stop loss. Because if the price action will break down this level then it can move more down for the formation of bullish Crab pattern. Conclusion: It is confirmed that post halving the Bitcoin starts very strong and long term bullish rally, however this is also a fact that pre or post halving period the Bitcoin also completes a bearish move as well. Therefore in case of breaking down the supports the Bitcoin can move further down, however if the supports will be saved then the Bitcoin can start long-term bullish move from here. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITSTAMP:BTCUSD
by moon333
1
Bitcoin | Update after the Halving – What will be the next move?We have seen a lot of volatility in the past two weeks. This was of course to be expected. In our last analysis we talked about a potential reversal/shakeout pattern, but this one didn’t complete. For now, we can see that there is a lot going on with Bitcoin that we want to discuss in this analysis. First of all, the Bitcoin CME Futures gap. Last week, CME Futures closed at a price point of 10085, opening Monday at 8820. This created a large gap with a price difference of 1265. At the time of writing this analysis, the price of Bitcoin spiked up, and filled the gap. The gap in the CME futures has been filled, but as far as we can see now, Bitcoin is being rejected again at the 10K level. Bitcoin is creating a Lower High (LH), since it could’t break the last high of 10074. If Bitcoin cannot break the 10K level, we can see this as a clear rejection and Bitcoin can fall back on the latest support (9150 and 8850). For now, we can see that Bitcoin is still in its rising channel. Normally these channels are bearish rather than bullish. In addition, we see that as the price of Bitcoin goes up, the volume decreases. This could also indicate that this “breakout” could be a fakeout to liquidate some long positions. If we look at the second Bitcoin reward cut (July 9, 2016), we see that Bitcoin did fall again (29,92%) after the date (post-halving dump). If we will something familiar with the current price of Bitcoin, it would bring the price down to about the lower 6000 levels. In our opinion this would not be the case. We don’t expect Bitcoin to ever see the lower 6000 again. A few last things to note is that Bitcoin’s price is still above 20 daily and monthly moving averages. Both are good indicators of whether Bitcoin is in an upward or downward trend. In the last Bull Run (2015-2017), the price of Bitcoin never fell below the 20 Monthly Moving Average. We do not expect Bitcoin to break upwards out of the rising channel. Instead, we expect Bitcoin to move sideways in the coming days/weeks, after which we will break down out the channel. After an outbreak to the downside, many buy orders will be filled and the price of Bitcoin will slowly rise again. The next phase of Fomo begins.. A short overview: We are above the 20 Daily Moving Average (currently at 8825) We are above the 20 Weekly Moving Average (currently at 8081) We are above the 200 Daily Moving Average (currently at 8042) CME Futures gap filled Volume is going down Support levels at: 9150 and 8850 Resistance zone at 10K Thanks for reading and let me know your expected price targets for the upcoming halving!
BITSTAMP:BTCUSD
by CryptoUpdateCom
2
Bitcoin Again Going Parabolic To Hit Upto $300KHi friends hope you are well today we will see how the Bitcoin turns parabolic after every halving event. For this purpose I would like to take you back to the first halvening event of 2012. And on weekly long-term chart we can observe that after the halving event the price action went strong bullish and moved in parabolic way for next one year. This powerful bullish rally was up to 10,000% and that was really a big move. After achieving the highest price the BTC dropped down again and in June 2014 the Bitcoin showed a recovery rally. That was the time when the people would be thinking that it it will be recovered back to the highest price that was $1163 at that time. But the price action moved down again and retraced up to 0.786 Fibonacci level. After this retracement the price action formed a double bottom on the strongest support of 200 simple moving average and turned bullish again. Parabolic move after halving event of 2016: Now if we take a look at the halving event of 2016. Then after this event the price action againg turned parabolic bullish and produced more than 3000% gains. After achieving the highest price the leading cryptocurrency dropped down again and in the month of June 2019 the price action again showed a recovery move up to $13880. And this was the time when we were thinking that the Bitcoin has finally started recovery rally and it will be moved back up to the previous highest price level. That is the $20,000 but the price action of Bitcoin again moved down and retraced up to 0.786 Fibonacci level. This time we can see that the priceline has again formed a double bottom on the 200 simple moving average on this weekly chart like it was happened back in 2015. Parabolic move after halving event of 2020: Now after this double bottom formation on 200SMA the price action has gone through the 2020 halving event. Therefore we can expect another parabolic move by the priceline of BTC. If we notice the previous bullish move after the halving event of 2016 then that was 70% less profitable than the bullish move that was happened after the halving event of 2012. So if we expect the 70% less profit that was produced after the halving event of 2016 then the BTC can easily achieve $100,000 price level. However if the Bitcoin again produces 3000% profit than it can reach upto $300K. Bitcoin is parabolic since came into existence: Now if we take a look at the complete price action of Bitcoin since it has been came into existence. Then it can be clearly seen that the Bitcoin is moving parabolic. And it has never truned bearish, because we can see after achieving every highest price level the Bitcoin retraces between 0.382 to 0.786 Fibonacci retracement level. And the retracement upto 0.786 Fibonacci level can be called a correction move. Therefore we can say that after achieving every highest price in the history of Bitcoin the Bitcoin starts a correction for the next bullish move. The most important factor behind this parabolic move: On this weekly chart we can also observe that the basic reason for the parabolic bullish move of the Bitcoin is the 200 simple moving average. As this moving average is also moving in parabolic shape and not letting the price action to break down this 200SMA support. And this time again the priceline has hit at this support level and took bounce for the next bullish move and the 200 SMA is lifting up the Bitcoin price level in the parabolic way. Conclusion: After every halving event the BTC turns parabolic. If this happens again then Bitcoin can easily reach the $100K to $300K price level within next 2 to 3 years. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITSTAMP:BTCUSDLong
by moon333
Bitcoin Price Analysis: Is Bitcoin ‘Loaded Gun’ Pointing To $10k Bitcoin halving takes place but price action remains stable; halving effect likely to kick in at the end of the Q2. Bitcoin price is getting ready to shoot to $10,000 after confirming the support at $8,400 and $8,200. Bitcoin halving went smooth smoothly as expected. However, the price action remained largely unchanged with BTC stabilizing between $8,500 support and $8,700 resistance. Many people in the industry expected a rally in the price during the halving process, however, history suggests that the impact of halving is usually gradual. Therefore, investors can expect a stronger bullish momentum towards the end of the Q2 and a significant breakout towards the end of 2020 and in the course of 2021. Following the breakdown over the weekend when Bitcoin price nosedived from levels close to $10,000 to $8,100, a recovery has been steady but gradual within a short term ascending channel. The first attempt to recovery following the drop hit a snag at $8,800 as shown on the 30-minutes graph. Rejection from this level confirmed another support at $8,200. BTC/USD launched another attack stepping above $9,000 on Monday. However, the seller congestion at $9,200 cut short the action. Consequently, Bitcoin dived below $9,000 and this time confirmed the supports at $8,400 and $8,200 during the halving process. An ongoing recovery suggests that BTC/USD is about to launch another attack at the resistances; $9,000 and $9,200. The main target for the bulls is $10,000 but they must deal with the resistance at $9,500 and $9,800. At the time of writing, Bitcoin is valued at $8,670 and battling resistance at the confluence formed by the 50 SMA and the 100SMA. According to the RSI, a consolidative price action is likely to take precedence before the ultimate breakout above $9,000. Bitcoin Intraday Key Levels Spot rate: $8,670 Relative change: 95 Percentage change: 1.16% Trend: Sideways action (consolidation) Volatility]: Expanding
COINBASE:BTCUSDLong
by CoinGape
Why The Bitcoin Dropping Fast Before The Bitcoin Halving 2020Halvening event of 2012: Hi friends hope you're well and welcome to the new update on Bitcoin. Today we will try to understand why the Bitcoin is dropping fast just before the halvening event. In order to understand this situation we need to move back to 2012 to watch the history of the Bitcoin halving. Then we can observe that when we had the Bitcoin halvening event in November 2012 then BTC started dropping down in August 2012 this drop was started from 18th August to 20th August 2012. And this was a steep waterfall crash after that the Bitcoin recovered but just before the having the Bitcoin dropped down again in October 2012. After that we have witnessed a strong bullish rally of more than 10000% for next one and a half year. Halvening event of 2016: Then in halvening event of 2016 we can notice that before the halving BTC started dropping down in Jun 2016. This drop was started from 19th Jun to 23rd Jun 2012. And this was another steep waterfall crash like we had before the halving of 2012. After that the Bitcoin recovered but just before the halving the BTC dropped down again from 3rd July to 2nd Aug 2016. After that we have witnessed a strong bullish rally of more than 3000% for next one and a half year. Halvening event of 2020: Now in current halvening event of 2020 we can again notice that before the halving BTC started dropping down from Feb to March 2020. This drop was from 15th Feb to 13th Mar 2020. And this was another waterfall crash like we had before the halving of 2012 and 2016. After that the leading cryptocurrency recovered back. But just before the halving the BTC has started dropping down again same as like before in 2012 and 2016. After this drop we can expect a long term bullish rally. This combination of these indicators has given final sell signals: As in my previous posts I told you that I am looking at the movement of BTC using the combination of these indicators to observe the bullish and bearish trend . 1st: Vervorrt heikin-ashi long-term candlestick oscillator. 2nd: Moving average convergence divergence (MACD). 3rd: Stochastic indicator. Ater placing these three indicators I came to know that since October 2019 the Bitcoin is following a specific pattern for the bearish rally. The Vervorrt heikin-ashi long-term candlestick oscillator is a powerful indicator that shows that the priceline is in bullish or bearish trend . When it turns green it means that Bitcoin is in bullish trend and when it turns red color then it means that Bitcoin is in bearish trend . Now after noticing closely the daily chart it can be observe that whenever this vervoort indicator turns green then the MACD indicator 1st gives sell signal and then again it gives buy signal and again it gives sell signal and on this third sell signal if the stochastic also gives the bear cross then the BTC turns bearish and starts the bearish move. It can be witnessed form 24th of October to 25th of November 2019. Then from 23rd of Jan up to 13th of March 2020. And if we see the current situation then the vervoort is again in green color and giving indication that we are in bullish trend , and the MACD has given a sell signal and after that we have received the buying signal and at this time the MACD has given the sell signal. Therefore we can expect that this time the bitcoin again follow the same pattern that it is following since October 2019. And it will start a bearish rally. This time I have also placed the relative strength index (RSI) oscillator. Then we can also observe that whenever we receive the final sell signal by the MACD and the BTC starts bearish rally then the RSI also visits the oversold zone. Therefore we can expect that if the Bitcoin will start a proper bearish move then the RSI will also again visit the oversold zone. Now up to what extent the Bitcoin can drop: Now the question is that if the Bitcoin start a bearish move then up to what extent the BTC will be dropped. For that first of all we need to watch out for an up channel formation that the Bitcoin has formed on the daily chart. This up channel is same as like the previous up channel formation that was formed from December 2019 up Feb 2020. And after breaking down the support of previous channel the price action turned very strong bearish and easily broke down the simple moving averages supports with the time period of 50, 100 and 200. And now it has a again started another up channel from March up till now. Here we can observe after a very strong attempt to break out the resistance of the channel finally the price action is likely to be filled in breaking out and now it is dropping down to hit the support of the channel. Here we have the 100 and 200 simple moving averages supports at the same level where we have the support of the channel and these supports are at $8,000. Then we have the 50 simple moving average support just below the support of the channel. And the 50 simple moving average is moving up to form the golden cross with 100 and 200 simple moving averages. If the 50 SMA will continue this upward move to form the golden then the priceline will not break down the support of this channel, however if the 50 simple moving average will not continue its upward move and it will start moving down then the price action will easily break down the 100 in 200 SMAs and the support of the channel. The Bitcoin has failed in re-testing the resistance block as support: We have already seen that on the daily chart the priceline was trying to breakout the resistance block from $9,000 to $9500 level. This is the most strongest support and resistance block that the Bitcoin could not breakout since after the drop off Dec 2017. Once in the month of February 2020 we have witnessed that a Bitcoin broke out this resistance block. After breaking out this resistance block the Priceline tried to retest previous resistance as support but this re-test was unsuccessful and the priceline dropped all the way down up to $4000. Now again the priceline Now I again the priceline of leading cryptocurrency has repeated the same move. The Bitcoin broke out the resistance of this block from 8th to 9th May 2020 and after breaking out the BTC tried to retest the previous resistance as support but again it has failed to retest this resistance block as support and dropped down. The Bitcoin is likely to be failed in breaking out the resistance of channel on long term chart: Now I would like to divert your attentions toward the down channel that has been formed on the long-term weekly chart. And we can see here that the priceline was also trying to break out the resistance of this down channel. But so far it is not successful in breaking out the resistance. If the Bitcoin will break down the support of the channel that has been formed on the daily chart then it may retest the 100 simple moving average support that we have within the down channel on this weekly chart. And this 100 SMA support is at this time at $7,100. If the price action will breakdown the 100 simple moving every support then it may retest the 200 SMA support and that is at $5700 at this time. And in case of breaking down the 200 simple moving average the Bitcoin may re-test the support of this down channel and that is at $4,800. However I'm not expecting as that much powerful downward move. In worst situation I'm expecting that the Bitcoin will take a bullish bounce from the 200 simple moving average support as we have already discussed in my previous articles that this is the strongest support ever in the history of Bitcoin that has been never broken down since it is appeared. However the further downward move depends in breaking down the support of an up channel on daily chart. Conclusion: All the chart patterns and the indicators are giving bearish signals, therefore the priceline of Bitcoin may turn bearish on short-term. But on long-term after the halving event we can expect a very strong bullish rally for at least 2 years. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITSTAMP:BTCUSDLong
by moon333
5
Bitcoin halving ? What is the chart saying ? I am still bearish on bitcoin , even if ive had some profitable scalpings during this temporary uptrend. Last one being last week ( ethereum included here ) - but im already out. In my previous analysis regarding bitcoin- ive said that low should be tested again if we want to rally healthy. But that never happened , instead it went up directly confirming the big daily channel im showing here. I dont see anything bullish, 11 may fits perfectly in my picture and im very curious to see what will the price do once it hits the top of that channel. But im 90% sure it will go down afterwards. So that would be : buy the rumors- sell the news situation. Only a huge FOMO based solely on " halving " will simply take bitcoin above that channel- but that in the market terms wont be healthy , and i wont chase such things. If you want free access to my tel channel , pm me. Above 30% profit for this year already.
COINBASE:BTCUSDShort
by TradingForRealOfficial
1