Bitcoin! Bearish scenario!??just before halving... UPDATE UPDATE
Hello to all traders, in the above chart I would like to show you a dependency which looks very promising, on the chart I marked similar moves, the one from May 15, 2019 is similar to the one from today, would it seem like a powerful breakout of the trend? it seems that this is just the beginning of the bullish trend.
If you think the same, leave your comment.
If you think the same, leave your comment.
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But keeping the weekly pivot around $ 8600 doesn't mean we ended up in a bearish market right away. And the price still has an upward bias.
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On 4H chart We also see that the EMAs are still bullish and are still showing a bullish trend. Perhaps it will continue and the $ 10,000 will be broken in the coming days. Although EMAs are also slow on higher timeframes and this can give a distorted picture.
Nonetheless, longer timeframes are still bullish and a weekly close above $ 8600 will be enough to sustain this trend. The closing of this week could therefore be an important indication for the continuation of the price in the coming week.
Nonetheless, longer timeframes are still bullish and a weekly close above $ 8600 will be enough to sustain this trend. The closing of this week could therefore be an important indication for the continuation of the price in the coming week.
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What will Bitcoin do?
So it seems to be pretty uncertain what will happen in the coming hours / days towards the halving of Bitcoin. The first signs are starting to turn from bullish to bearish. Which does not necessarily have a meaning.
A $ 10,000 retest could be enough to push the price up even higher. But a close below USD 8,600 today may cause the price to drop further.
With enough support between $ 7000 and $ 8000. But with volatile markets around special events, a dip or rise can become much larger and cause major wicks.
So it seems to be pretty uncertain what will happen in the coming hours / days towards the halving of Bitcoin. The first signs are starting to turn from bullish to bearish. Which does not necessarily have a meaning.
A $ 10,000 retest could be enough to push the price up even higher. But a close below USD 8,600 today may cause the price to drop further.
With enough support between $ 7000 and $ 8000. But with volatile markets around special events, a dip or rise can become much larger and cause major wicks.
Yorum:
10 reasons why bitcoin halving 2020 is different from the previous two
Big differences
Whether the bitcoin price will rise just as fast this time as in previous times remains to be seen. The circumstances are now completely different. The main differences are:
We are facing a major recession. One that, according to many analysts, is comparable to that of the 1930s. The World Trade Organization, among others, warns against this.
Shares can plummet again, just like on March 12. Then bitcoin was also carried away.
A second global wave of coronavirus outbreaks.
Central banks continue to pump new money into the economy. That happens in almost every country now.
Deflation of different fiat currencies can lead to hyperinflation. Iran is now fighting against that by taking four zeros from its currency. The coins of different Asian countries have the same dollar value as in 1998, during the Asian crisis.
Monetary and political instability. The currency in Lebanon lost 60% of its value, citizens took to the streets and threw molotov cocktails at banks.
Digital money such as a digital yuan, or a digital euro. The currency of Facebook, Libra, can also have many consequences.
Libra has already made politicians adopt a stricter stance on cryptocurrency. Our own Wopke Hoekstra forces small bitcoin companies to close by demanding too much money. And all over the world, administrators have woken up to the potential of cryptocurrency.
The devaluation of the dollar. That is not yet the case, the dollar is stronger than ever. But if the dollar falls sharply in value, what is the dollar still worth as a world reserve currency? Everything stands or falls with confidence.
Nikolay Shkilev, the CEO of Zelwin, about that confidence: "They no longer believe that the issue of new money adds value. This is against all economic laws. In fact, printing money could be equated with printing new candy wrappers. Therefore, it is inevitable that people will look for alternative sources of financing such as crypto. "
Difference number 10
A tenth difference that should not be underestimated: Bitcoin is ready. Many bitcoin companies have learned from the bull run after the previous halving, the processes have been tightened and it is now even easier to quickly take advantage of a rising price.
Big differences
Whether the bitcoin price will rise just as fast this time as in previous times remains to be seen. The circumstances are now completely different. The main differences are:
We are facing a major recession. One that, according to many analysts, is comparable to that of the 1930s. The World Trade Organization, among others, warns against this.
Shares can plummet again, just like on March 12. Then bitcoin was also carried away.
A second global wave of coronavirus outbreaks.
Central banks continue to pump new money into the economy. That happens in almost every country now.
Deflation of different fiat currencies can lead to hyperinflation. Iran is now fighting against that by taking four zeros from its currency. The coins of different Asian countries have the same dollar value as in 1998, during the Asian crisis.
Monetary and political instability. The currency in Lebanon lost 60% of its value, citizens took to the streets and threw molotov cocktails at banks.
Digital money such as a digital yuan, or a digital euro. The currency of Facebook, Libra, can also have many consequences.
Libra has already made politicians adopt a stricter stance on cryptocurrency. Our own Wopke Hoekstra forces small bitcoin companies to close by demanding too much money. And all over the world, administrators have woken up to the potential of cryptocurrency.
The devaluation of the dollar. That is not yet the case, the dollar is stronger than ever. But if the dollar falls sharply in value, what is the dollar still worth as a world reserve currency? Everything stands or falls with confidence.
Nikolay Shkilev, the CEO of Zelwin, about that confidence: "They no longer believe that the issue of new money adds value. This is against all economic laws. In fact, printing money could be equated with printing new candy wrappers. Therefore, it is inevitable that people will look for alternative sources of financing such as crypto. "
Difference number 10
A tenth difference that should not be underestimated: Bitcoin is ready. Many bitcoin companies have learned from the bull run after the previous halving, the processes have been tightened and it is now even easier to quickly take advantage of a rising price.
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Nobel laureate and economist Professor Milton Friedman once said, "I think the Internet will become one of the most important forces in diminishing the role of the government. All that's missing, but it will be developed soon, is a reliable e-cash. "
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It looks for a longer consolidation than before, but we have just come to the end of max 7 days, and when we shoot up, a lot of people will get a headache, there is no way to fall, so if you don't have anything in your wallet, do it as soon as possible shopping, Dogecoin has started well over 20% today, so Bitcoin will probably do it tomorrow!
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