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LONG WINTERInvestor is back, so it´s Bears hibernation time. Guess what, my oldie bull divergence explanatory Bitcoin chart is still alive and ... I think that Bitcoin might be in the anomaly state where HIGH RSI doesnt mean a :poo: bear divergences are painted over higher time frames but yet its ignored and going higher and higher until a huge extended bear divergence smashes for a massive and fast correction and it can even continue growing higher. There is many reasons for this and if you will studdy the chart further and deeply then you might found the key in this work. Yet keep in mind, there is still chance to fail if the RED LINE resistance doesn´t get break threw in a short period of time. This short term chart might be a first confirmation for this theory Can history repeat itself ? Again & again ? Crypto TOTAL market cap to 10T ? s3.tradingview.com The time is NOW ---------------------------- BITCOIN HALVING (MAJOR EVENT) countdown at the time of writing 434days What is the Bitcoin Halving (Halvening)? New bitcoins are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the amount of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half. The day the amount halves is called a "halving" or "halvening". In 2012, the amount of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block. In the 2024 halving, the reward will drop from 6.25 BTC per block to 3.125 BTC. ---------------------------- R:R, money management, risk, reward, technique, style, trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond
COINBASE:BTCUSDLong
by Anoinvest
3
It's just FUD. Stick with the fundamentals and be patientWe faced a >50% drop from the previous ATH around the 68k level and created a new lower low. The last dip down to the 33k level was bought up with higher volume compared to the previous dips during this downtrend which indicates that we could have bottomed out. The RSI still is below 40 and probably will test the yellow line in the near-term. Once we break this downtrend on RSI we expect to be above the critical 40k level and recover properly from this downfall. Until this happens we are in a downtrend and could see further downside. Big support lies around the 30k level while the support around 40k turned into resistance and is our first test for upside movement. Most indicators show that we have bottomed out or are very close to it. Keep in mind that often times we feel doomed or the opposite invincible, this is the time we are wrong and reversals happen. So ask yourself how you feel and what it means. Feel free to comment or ask anything you like. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers Ctumblery
by tumbler55