BTC - Expected Price Up Until HALVING

24 בינו׳

📉Hi Traders, Investors and Speculators of Charts📈

With the ETF approval priced in, next thing is the upcoming BTC halving expected in April - but wat does this mean for the price of BTC?

When there's an unprecedented event that will affect the markets, it's helpful to return to the basics:
👉 Buy the rumor, sell the news
👉 Macro Analysis
👉 Candlestick analysis

👉 Buy the rumor, sell the news
The ETF was again, a perfect example of this. Although it's possible for the price to increase days leading up to the halving, from a previous analysis we determined that BTC usually drops before halving.

👉 Macro Analysis
Bitcoin is due for a correction / pullback. Even dropping to lower 30K zone would still be a lower high, classic Elliot Wave Theory before the next upwards impulse wave, which is the biggest ( wave 2).

👉 Candlestick analysis
BTC has made 8 consecutive green candles in the two week timeframe. A few red ones are definitely overdue. This will support as a "fundamental reason" for the halving drop.

NOTE that I am still BULLISH on BTC. We're in the opening moments of a new bullish cycle, but there are pullbacks and corrections in upward cycles - and I'm expecting that we're currently trading in correction wave 1-2.


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CryptoCheck

BTCUSDT BTCUSD BTCUSD BTCUSDT.P

26 בינו׳

הערה

Definitely observing a bearish topout on BTC in the daily :

31 בינו׳

הערה

BTC possibly forming a H&S. Invalidated if the price closes above 44800: