halving and BTC, is there any relation?
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Guys, so..the halving event is now get closer, how do you think about the days after it?
Currently I read a lot of articles talking about how this event can impact to the price, so in this article I just want to share my opinion. Please like leave comments if you found it useful.
Talk about technical view first, here is the log scale chart, you can easily found the main trend from the beginning of
BTCUSD broke from the earlier crashing.
Then, as the main trend was invalid, I would focus my trade on shorting when the chances come. Here is my prediction for howBTCUSD moving. My idea is that the price will form a descending triangle, then break the hypotenuse to go to moon :D
Go back to daily chart, price has formed a beautiful pin bar just below the daily resistance, marked by BB upper and Ichimoku cloud higher limit. This would be a good point to entrance, but its better to wait till our wedge finished, then we short. Target will be $3172, which is 43,7%, not bad if the price favors my prediction.
Talk about halving, many people will say: "ok, BTC supply will decrease by 50%, then it will become rarer, so the price will be pushed". This seems to be reasonable according to supply and demand theory. But lets look closer to the situation now.
The virus effect has extended to all countries, except few more but with small economy (check it out: statista.com/chart/21279/countries-that-have-not-reported-coronavirus-cases/)
Stock collapsed, infinite printed money... thats we can see now. The situation will not ending soon, as some researchers showed that it will take maybe 3 years to recover the US economy after the virus gone (weforum.org/agenda/2020/03/economic-impact-covid-19/)
I personally don't think the price will recover soon, in the current situation. No one can confirm that the virus effect will disappear in May or June, till that, people need cash to afford for their lives, and if you have spare money, what will you want to invest? Stocks, gold or this risky Bitcoin investment?
You can blame that recent days whales have accumulated lot of BTC, proved by few huge balance addresses, but if they accumulated around $4000 -$5000, then they will sell around $6500 - $7000, well.. $2000 PnL (30%- 40%), which is very good business.
I got some knowledge about controlling crypto exchange, well let me speak that: when you guys started buying from around $4000 (many people did), we also had to buy a lot, which could lead to high balance address, but then, as the price collapsed, those whales also had to liquid the coins they holding as well, which could lead to crash just like the early one (My view only)
Well so this is the crucial time for we to make decision, but I now believe that 70% price will return to $3200 again.
And you?
Currently I read a lot of articles talking about how this event can impact to the price, so in this article I just want to share my opinion. Please like leave comments if you found it useful.
Talk about technical view first, here is the log scale chart, you can easily found the main trend from the beginning of
BTCUSD broke from the earlier crashing. Then, as the main trend was invalid, I would focus my trade on shorting when the chances come. Here is my prediction for how
BTCUSD moving. My idea is that the price will form a descending triangle, then break the hypotenuse to go to moon :D Go back to daily chart, price has formed a beautiful pin bar just below the daily resistance, marked by BB upper and Ichimoku cloud higher limit. This would be a good point to entrance, but its better to wait till our wedge finished, then we short. Target will be $3172, which is 43,7%, not bad if the price favors my prediction.
Talk about halving, many people will say: "ok, BTC supply will decrease by 50%, then it will become rarer, so the price will be pushed". This seems to be reasonable according to supply and demand theory. But lets look closer to the situation now.
The virus effect has extended to all countries, except few more but with small economy (check it out: statista.com/chart/21279/countries-that-have-not-reported-coronavirus-cases/)
Stock collapsed, infinite printed money... thats we can see now. The situation will not ending soon, as some researchers showed that it will take maybe 3 years to recover the US economy after the virus gone (weforum.org/agenda/2020/03/economic-impact-covid-19/)
I personally don't think the price will recover soon, in the current situation. No one can confirm that the virus effect will disappear in May or June, till that, people need cash to afford for their lives, and if you have spare money, what will you want to invest? Stocks, gold or this risky Bitcoin investment?
You can blame that recent days whales have accumulated lot of BTC, proved by few huge balance addresses, but if they accumulated around $4000 -$5000, then they will sell around $6500 - $7000, well.. $2000 PnL (30%- 40%), which is very good business.
I got some knowledge about controlling crypto exchange, well let me speak that: when you guys started buying from around $4000 (many people did), we also had to buy a lot, which could lead to high balance address, but then, as the price collapsed, those whales also had to liquid the coins they holding as well, which could lead to crash just like the early one (My view only)
Well so this is the crucial time for we to make decision, but I now believe that 70% price will return to $3200 again.
And you?
Note
Price now is testing higher limit of the wedge, bollinger band as well as the ichimoku cloud. Shall we enter short?
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