Bitcoin short - Supply Demand - weekly - HALVING EXPLAINED

Hello Traders!

Bitcoin is right now at the weekly Supply Zone and my bias is that we will drop down to the weekly Demand Zone. This would be my Take Profit Level.

Also great Price Action respond. I posted this analysis last week and we got an indecision candle at the Supply Zone. This candle shows us indecision phase in the market and therefore we could get shifting momentum and price will drop. But this is not confirmed yet. We could also go up from here.

Chart Analysis
We are right now on Bitcoin in a Triangle Pattern and I marked all the important weekly Supply and Demand Zones on the chart. If we are looking in the past we can see that Bitcoin reacted very nice on all weekly Zones.

Halving:
As we all know today is halving.

As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (~ every 10 minutes). At the beginning of BTCUSD 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined the block reward halves and will keep on halving until the block reward per block becomes 0 (~ by year 2140). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.

This will help Bitcoin to push the price higher over time. This does not mean that Bitcoin will immediately will fly like the rocket at halving. It will slowly grow over time.

What can we expect:
Bullish and bearish. Of course Bitcoin could go up and close above the Supply Zone. Then this will be a Swap Zone and the price will push higher. But also we got the drop possibility on Bitcoin. This is what I am expecting. Right now everybody thinks that Bitcoin will fly. This is the best opportunity for the banks to drop the price one last time before the price will grow slowly. There is enough liquidity in the market for the banks and financial institution.
But we just need to watch Price Action Confirmation and read what the market gives us. All important zones are on the charts. Just use them and work with it.

That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.

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For a more detailed explanation check out the trading post idea from my friend

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Entry possibility after break of the support