BitcoinUpdated My 2 cents on Bitcoin.
Above 200 ema but below 50 ema. Also breached the long standing trend line.
For BTC to be bullish in the coming weeks & months it has to close above the trend line. That is one confirmation that short sellers can stay away from BTC for the time being.
With bitcoin halving coming up soon, it's hard to contemplate the trend.
Historical halving dates :-
1. 3 Jan'09 = Launch
2. 28 Nov'12 = !st Halving (Not much volumes back then so no data)
3. 9 July'16 = 2nd Halving (BTC fell for the next 2 weeks after that)
4. Expected May'20 = 3rd Halving (BTC could fell, charts tell otherwise)
5. 2024 = 4th Halving
6. 2028 = 5th Halving
7. 2032 = 6th Halving (Last Halving)
Next week can tell a lot about next few months for BTC.
Telegram Channel - sarthak_singh
Happy Trading :)
For BTC to be bullish in the coming weeks & months it has to close above the trend line. That is one confirmation that short sellers can stay away from BTC for the time being.
With bitcoin halving coming up soon, it's hard to contemplate the trend.
Historical halving dates :-
1. 3 Jan'09 = Launch
2. 28 Nov'12 = !st Halving (Not much volumes back then so no data)
3. 9 July'16 = 2nd Halving (BTC fell for the next 2 weeks after that)
4. Expected May'20 = 3rd Halving (BTC could fell, charts tell otherwise)
5. 2024 = 4th Halving
6. 2028 = 5th Halving
7. 2032 = 6th Halving (Last Halving)
Next week can tell a lot about next few months for BTC.
Telegram Channel - sarthak_singh
Happy Trading :)
Note
BTC inside the trend line (refer to my previous idea on weely timeframe). There's a saying in Texas - "All hat and no cattle".
That is exactly what Bitcoin did. Made a long tail on the upside only to close inside.
Will update the Target & SL monday morning.
Happy Trading :)
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