Disclaimer:If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Sawcruhteez Strategies: |
In my I called for Bitcoin to retest $16,000 before the halving. From there I expected to see a multi month correction back to $11,500 where support would be waiting from a horizontal and trendline. After further analysis I think that is a very good roadmap for the months to come.
In the charts above I compare the current price action with what we saw in the second half of 2016, which was the last time that Bitcoin halved. We are currently three months from the expected halving date and last time around BTC pumped 80% in the 6 weeks before the rewards decreased. It started to correct two weeks before the halving occurred and proceed to fall 40%. If history repeats itself then that would indicate price rallying to $18,000 by the end of April before correcting back down to $10,800 in the following months.
I put together a fractal to illustrate that potential path and used a parabola to connect to the lows instead of a trendline. Regardless of what happens these next few months should be very interesting indeed!
On your stream live. Love your TA.
Thanks again saw
escozul
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Let's hope it will pick up and get back on track now. It looks as if it starting to go off track for the first time in history. With the Corona news getting worse and worse by the hour we might be experiencing a special time.
cryptrololo
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Hello, is the comparison still relevant with a period where the pros where not involved in the game? Thanks for your analysis.