Bitcoin Halving :
New bitcoins are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the amount of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half. The day the reward halves is called a "halving".
In 2012, the amount of new bitcoins issued every 10 minutes dropped from 50...
WROTE THIS, BECAUSE I AM SO ANNOYED WITH THE BITCOIN WILL BREAKDOWN BECAUSE OF "TECHNICALS" POSITION.
First and foremost, I've never been a Bitcoin guy (even though I did call for new ATH this year, that was to test PRS). My reasons for not supporting cryptocurrency are:
1) Unlike precious metals, it does NOT have a past (worldwide cultural...
Good morning everyone.
It´s been a while, sorry for that, but privately I am involved 24/7 thxn to the challenges that Covid-19 had for all of us.
Anyways, I feel it´s worth to make an Update on the weekl now, since we have reached not only a key-level, we
also slid into a typical stall. At the moment there is still room to the upper trendline, but 10k again...
My technical analysis show that the bottom could be in here very well. Seems like a weird bottom, I know, but sometimes traders have to accept a weird bottom. I analyzed a few cryptocurrencies and all of them show bottom action.
Create, Practice, and Learn
This chart is meant to help identify the general trends for ETH during 9/23 - 10/23. In my past charts, I identified that ETH / USD broke out of a long term kangaroo cycle (597 days) at the resistance line of 360.
Conclusion: Since we broke the 597 day kangaroo trend, I believe we are entering a bull cycle.
IN EARLY SEPTEMBER, BTCUSD DROPPED 2000 PTS AND FACED SHAM CALLS FOR 6000. IN THAT MOMENT, PRICE REGRESSIONS WAS SHOWING 16000 WAS LIKELIER THAN 6000. NOW AT 11,400, WHERE ARE THE 6000 CALLS?
Notes: There's a lot of ambiguity surrounding election time. But if it tags...
--- this is a 3 day look so i could get more data on the screeen. the drop to "the basement" would test and reject breaking the daily 200ma. --- XRP failed to hold the 200 MA, and has fallen back into the 2.5 year long bear trend again... indicators are pointing down, fib lines are breaking south, support lines are failing. under the daily 50 MA, 100MA, 8ema,...
There is still a lot of pressure downwards from the bears
We notice a negative head and shoulders pattern, and this may push the price down strongly
Trade with caution and do not risk in these sensitive times
Do not forget to support the idea by clicking the like button
Locally, bitcoin seems to be in the process of completing wave 2 of 3 before the next leg up to $13.16k.
Bitcoin regained and sucessfully retested major weekly support above $10.2k.
I suspect fireworks if we can just get a HTF close above $11655 (monthly resistance) and print a HH above $12k.
Looking for B of a larger corrective cycle to...
My primary bullish macro count for now. Can definitely see this playing out. Running flat correction (3-3-5) where we get a 1:1 (a):(c) extension to complete B like we had for A.
Targeting $15.5k in Q4 2020 for this final leg up before the next downtrend to complete finally a macro wave 2 sometime next year.
Locally, this is what I'm expecting...
Good morning @everyone
As discussed yesterday morning we got our pull-back, however I was a bit off when it comes to the targets I was looking at. Initially, I thought we'd get held up a little more substantially at those fib levels that I've outlined in white.
We did anticipate, on Tuesday night, that 12k would be difficult, as a phycological level as well as...
Good morning Traders
I still think this rise off the daily OB looks suspect. More likely a B/X wave before putting in a final low for this correction. Doesn't look very impulsive considering volume plus ETH is currently at major resistance after leading the market with this recent rise.
Expecting a SFP at around 12.1k and targeting 10.7-10.9k for an end to this...
I've already mentioned in my previous articles about this consolidation and key Moving Averages with critical time frames. If you didn't, please read them. They are listed below.
Now, let's look at more indicators which will supplement my consolidation breakout theory.
1. Long-term trend line support + Bollinger band floor
As you see in the...