I made a chart one candle - 3 days, so you can see the whole picture.
It’s no secret that trading algorithms are now working on exchanges, especially on small timeframes (if you want to make sure, open the BTCUSDT chart for 1 second trading view of Binance Exchange and you can see how fast and how many transactions occur at a time).
Professional traders from traditional markets, who traded stocks and other financial instruments, also entered the market. and most of the movements that are happening now with Bitcoin have already occurred with stocks. You may ask why? because anything can change on the market, except for human psychology and the actions that people perform in a given situation.
I will show you the same pattern that bitcoin did from 2018 to 2019
Reversal pattern - identical
I also found several patterns on other instruments that excited me and I decided to share these observations
I showed black and white color on the chart
Another important point that I reviewed for myself is MA and the cross of death.
The intersection of MA 50 and 200, these movings are true for the classic markets when, trading goes 5 days a week. For our market that works 24/7, MA 280 and 70 will be used correctly.
If we used MA50 and MA200 in 2018, then in a few months bitcoin would go above Death cross
If we use MA70 and MA280, we will see that these MAs work perfectly
And now there is no death cross
and if you compare 2014
MA70 and MA280 great
and MA50 and MA200
I want to answer a few questions
What price will be before the end of the year?
I think we will see the New Year rally, there will be a lot of good news 2020 will be 20k
In may halving - that the moon and different blah blah
in this range
Expectations from bitcoin halving?
I expect a bull trap.
Now you can see a yellow and at first glance a very triangle. And most likely we will move inside this triangle to a halving. we will touch the support line of this triangle, and I expect a peak of euphoria in March - April a month before the halving. And of course, all those who believe in “to the moon” will be punished.
Sincerely yours EXCAVO