2020 is upon us, and with it, another halvening...
This chart represents my best case scenario of what may unfold. An early year halvening pump, followed by an immediate sell the halvening event. After that BTC should slowly start to feel the supply crunch and we will crawl up.
Do I think the bottom is in at 6400? Actually yes I do. Maybe there might be a third drive down a touch lower to 6000-6200, but there is more upside risk from here. A collapse to 5k zone, while widely expected, I don't think will happen (sadly).
Now as I did say this is my best case scenario (and what I actually think will happen), I do believe there is a chance that 2020 could also be devastating for BTC and all crypto. A complete collapse.
I'm 70% bull for the year, 20% Neutral (boring sideways, messy, illiquid, nothing of a year), 10% dewm.
Anyway, praise be to this great scam and good luck to all.
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Highly likely the lows are now in.
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Ffs I just realised I put the halvening date a month early haha.
Anyway, spot on so far.
No need to play around with short time frames imo.
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Playing out as expected so far, although I confess the suddenness and timing of the correction caught me off guard.
The global crash we saw this week could have an impact on this play, and as such, I have taken a more defensive position.