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Bitcoin halving event

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1 hour ago, Caseynotes said:

I saw this from Crypto_Lord yesterday that made me laugh at first, then scratch my head ... (3 months).

i don't get it. 

How is there any basis in that price action? 

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2 minutes ago, cryptotrader said:

i don't get it. 

How is there any basis in that price action? 

That's what made me laugh in the first place but the first 40 days is a tight fit, god knows why he thought of doing it at all, it must be some weird new cult TA technique that when adopted by the many will become a self fulfilling prophesy (like most of the others), don't forget you saw it here first 😉 

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TA doesn't work with Crypto because the volumes are all fake and it's based on FOMO. 

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Hi all - just a note that we've created a specific bitcoin halving events page which you can see here. This will likely be more for clients who are new to trading bitcoin with IG, or are newly interested in the bitcoin halving event which is likely to take place in May 2020. 

To make sure we've not been left out we have our own BTC log scale showing the cryptocurrency price over the last couple of halving events. ;) Over the next 18 months or so we will be putting out a number of interviews, videos, podcasts, and content pieces which may be more relevant to those on Community. I'll make sure to update you all.

1560426774449.png

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BTC just holding at minor resistance (10858)  but a break upward from here could lead to a retest of the recent high at 11219.

image.thumb.png.3210f7fad467495846d30bfd6f5de5f0.png

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Following on from yesterday's post, after some dithering came the retest and then a breakout.

image.thumb.png.112f2ccbb9fc3d23adc4148e80cbdd37.png

 

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Looking at the weekly BTC chart, very impressive. Added monthly pivot levels. Couldn't tell you where it's going though, or why 🙂

image.thumb.png.56e34bc8e3ccbce2e551e77b81699b23.png

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6 minutes ago, cryptotrader said:

are those about 11.2? to 15K?

11.2 also supported by Jan '18 levels. 

yeah, see revised pic below.

image.thumb.png.5101b0cb6ffaa2f1c8f4e21da3a57730.png

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BTC tests resistance at 11494 now expecting a test of support at 10738, current price 11200.

image.thumb.png.095db5717bc6b173b174680829d8e2a7.png

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BTC finds support at 10600 and recent resistance at 11173. Key support is 10281.

image.thumb.png.166070ce8fab1943adb31ec8d54c0d79.png

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What is the spread on Bitcoin? On my spread betting it’s 50, but looking at the other topic (crypto 10) and from forum replies it’s supposed to be lower. Why is there a discrepancy?

@JamesIG

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23 minutes ago, ha05230 said:

What is the spread on Bitcoin? On my spread betting it’s 50, but looking at the other topic (crypto 10) and from forum replies it’s supposed to be lower. Why is there a discrepancy?

@JamesIG

hey - spread (in the same way as for FX, futures and shares) are variable based on the underlying liquidity and any market volatility. At the moment I can see that BTC is 50, however earlier today it was 38. 

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BTC searching for support but may need to keep looking further down, 9370 and 8815 are potential candidates.

H4 chart;

image.thumb.png.63606d6c0155fd3d07ed9d0025af12ae.png

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6 minutes ago, Caseynotes said:

BTC bounces back up off 9688 to 10160 on the 9am 1 hour candle.

image.thumb.png.c6dcc265e58237fc699654563cd1cb83.png

Trading channel is too wide to work out accurate support and resistance level- is the bounce short covering? 10000 seems to be critical.

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9 minutes ago, FFS_Daytrader said:

Trading channel is too wide to work out accurate support and resistance level- is the bounce short covering? 10000 seems to be critical.

I think there was a lot of short covering as the move lost momentum in the 3 hourly candles after the pump down candle and the bears may try to have another go around here 10280.

image.thumb.png.06df01ead22fb7b0bdc744eaf4330921.png

 

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2 hours ago, Caseynotes said:

I think there was a lot of short covering as the move lost momentum in the 3 hourly candles after the pump down candle and the bears may try to have another go around here 10280.

image.thumb.png.06df01ead22fb7b0bdc744eaf4330921.png

 

BTC retesting the recent low, now at 9760.

H1 chart;

image.thumb.png.7e0e021b0ce8168c40bc04f477da359a.png

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17 minutes ago, TheGuru12 said:

https://www.zerohedge.com/news/2019-07-02/bitcoin-slumps-below-10k-cme-futures-interest-soars-record-high

 

People are clinging to hope, Whilst others are fighting to get to the exit. It's stuff like this that makes life exciting 😄 

Need I say any more...10000 level is as important as Back to the Future 1955 time continuum (all roads lead back there!)

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Recent support at 11601 with resistance at 12033 which is the bottom edge of a key resistance zone. Waning momentum suggests time for a move lower unless the bulls can rally.

image.thumb.png.73cf862ded21aa63311c614a0160da83.png

Edited by Caseynotes

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As noted yesterday price did follow momentum down, support found at 10955 with recent resistance at 11246.

image.thumb.png.fbf35296f07707143b86a18efdf16274.png

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Just looking at the H4 and H1 charts and note BTC is responding remarkably precisely to this down trendline from the June high. 

image.thumb.png.71f6c0923c054ae38c0591df232c35f9.png

image.thumb.png.ed536f4a2f6054075148b2be4d4a968c.png

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On 06/05/2019 at 13:54, Caseynotes said:

This is an interesting log scale (2 weekly) chart published end of Jan 19 on bitcoin price in relation to halving dates. Current 1 week chart below that.

image.thumb.png.e28e23907a207f0080f3d0bc7dd1255d.png

image.thumb.png.c9a7187bc190f8bdc7bc0f4117465636.png

 

image.thumb.png.b4b72dc83896ef16ae873020143dc9c3.png

Just to update that Log scale weekly chart from the Original Post of the thread.

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BTC pausing at 13000 after continuation up on a successful retest of resistance now support at 12000 yesterday.

H4 chart; 

image.thumb.png.7d01f1d6904ae986680235ef337de5c8.png

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