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DrJLT
Apr 8, 2020 3:31 PM

Flawed economic model and price halving Short

Bitcoin / U.S. DollarGemini

Description

The price of Bitcoin will soar if you believe it's going to be the world's reserve currency.

Otherwise, we're reaching a likely imminent crash:

  • Bearish divergence on the volume
  • Classic rising wedge
  • Key resistance levels


Most importantly, Bitcoin's economic model is designed to be "pyramid-like". As miners' incentive drops next month, Bitcoin's price should reflect the cost.

Comment

BTC has just broken down the wedge. We'll see if there's a retest, though <6k is likely very soon
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