BITCOIN: The door is closing.

25 Nis 2020

I asked myself a while back; how will the Bitcoin-halving effect price?
I am taking the position that Bitcoin will increase buying pressure, regardless of all factors considered, most retail traders and even long term investors will see this as just incentive to invest more, and this same narrative will likely be pushed by the media as it has in the past.
With that said, it is this fundamental that is being factored into today's projection/scenarois:

• 0: (Expectation) 8k resistance level very likely to be touched
  
• 1: MM will use this as an opportunity to push price lower
  
• 1.1: If price is pushed lower, the neck-line at 7.25k will hold up as resistance levels usually serve as even stronger supports often
  
• 1.2: If price is pushed lower, and the neckline at 7.25k doesn't hold up, then the break of a such a significant support level will push price down with more momentum. This will be ideal for Market Makers as they want to push price lower before the Bitcoin-halving comes up to create more liquidity and ride the buying pressure from FOMOing retail traders and investors.
  
• 2: If resistance at 8k does not hold up, the ultimate storm of FOMO will be created as the bearish sentiment the market will be injured. That + the up coming halving will ultimately form a new bullish sentiment throughout the market.
  
• 2.1: ^ False-breakout, 2 month-long rising wedge plays out, wick down to 2k. I did not include into the chart.

Conclusion: Assuming the halving in May increases buying pressure, Market Makers are running out of time to manipulate the market and create liquidity before the halving. The door won't be open for much longer and market makers must soon decide what to do before hand.
Thanks for reading!

I use technical analysis for these scenarios but I strongly believe in also including and justifying market behavior using fundamentals. If you like my analysis and hope to see more very well backed break-downs, follow me here.