Bitcoin Global $30k > $24k > $32k > $20k > $75k > $65k > $230k+
Found a very interesting pattern. Below I will describe the opinion on why the price is pumping and dumping, and how this is related to Halving.
Thoughts will come together at the end of the reading.
First. Important. Everything has a pattern, even chaos theory. We see that Bitcoin is moving at clear levels, even on small timeframes.
The level of 0.618 is always the level of the transition of the market into a Bullish trend.
Level 1.618 - the level was twice known as a growth stop point, with a transition to a local Bearish trend. In 2013 there was a correction of ~75%, but now the predicted bottom of $20,000 fits into this model, also ~75%.
Level 2.3 is the ATH of the market, where the global super-growth cycle ends.
Second. Opinion. “Miners regularly sell some bitcoin to cover production costs. While maintaining the scale of production, these costs don't change, that is, the market is ~steady sales pressure. Halving puts miners in front of the fact that now they will receive half as much bitcoins while maintaining their capacities and mining complexity.
Thus, due to the dictated outlook, before the halving, they are forced to accumulate bitcoins in order to smooth out the stress of reducing the reward in the future and survive it. That is, before the halving, the supply decreases and demand begins to prevail, which causes the price to rise. Further, after the halving, they are spending even more than before to survive the cataclysm without reducing production and the pressure is even more intense than before, which causes a post-halving correction. Well, then there is an adaptation of the psyche of market participants to new realities, in which they receive less, that is, they adjust to the new order and either increase capacity, oro reduce their appetites and the market grows organically due to the mechanical decrease in supply and emission.
My predication: $30k > $24k > $32k > $20k > $75k > $65k > $230k+
Still I'm waiting for signal from my Global indicator, based on on-chain data.
Local view (1D)
Thoughts will come together at the end of the reading.
First. Important. Everything has a pattern, even chaos theory. We see that Bitcoin is moving at clear levels, even on small timeframes.
The level of 0.618 is always the level of the transition of the market into a Bullish trend.
Level 1.618 - the level was twice known as a growth stop point, with a transition to a local Bearish trend. In 2013 there was a correction of ~75%, but now the predicted bottom of $20,000 fits into this model, also ~75%.
Level 2.3 is the ATH of the market, where the global super-growth cycle ends.
Second. Opinion. “Miners regularly sell some bitcoin to cover production costs. While maintaining the scale of production, these costs don't change, that is, the market is ~steady sales pressure. Halving puts miners in front of the fact that now they will receive half as much bitcoins while maintaining their capacities and mining complexity.
Thus, due to the dictated outlook, before the halving, they are forced to accumulate bitcoins in order to smooth out the stress of reducing the reward in the future and survive it. That is, before the halving, the supply decreases and demand begins to prevail, which causes the price to rise. Further, after the halving, they are spending even more than before to survive the cataclysm without reducing production and the pressure is even more intense than before, which causes a post-halving correction. Well, then there is an adaptation of the psyche of market participants to new realities, in which they receive less, that is, they adjust to the new order and either increase capacity, oro reduce their appetites and the market grows organically due to the mechanical decrease in supply and emission.
My predication: $30k > $24k > $32k > $20k > $75k > $65k > $230k+
Still I'm waiting for signal from my Global indicator, based on on-chain data.
Local view (1D)
