Jump to content
Sign in to follow this  

Bitcoin halving event

Recommended Posts

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.

Share this post


Link to post

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

Share this post


Link to post

BTC really tanking now, has dropped back down through the resistance zone to 11740.

image.thumb.png.403b1502e7c77770187f8aacf8b01956.png

Share this post


Link to post

BTC looking like it's wanting to re-check support at the recent low 11150.

H4 chart;

image.thumb.png.40a3127dc6b93798678f8cdc6cf35e3d.png

Share this post


Link to post

Looking to retest recent resistance at 11803 after support found at 10958.

H4 chart;

image.thumb.png.1ed12cbaf6898f36f58be0887caa87da.png

Share this post


Link to post

BTC currently capped at 11451 and reaching down towards the recent low and confirmed support at 10797.

H4 chart;

image.thumb.png.96ea514be37647017833f74003cdbe2b.png

Share this post


Link to post

Weak bounce up off 9842, more downside seems likely and a possible retest of 9628 the low of 2 weeks ago. Resistance overhead around 10700.

H4 chart;

image.thumb.png.2156552eb53e9cc831f8854c18a89c5c.png

Share this post


Link to post
Posted (edited)

Hmmm, wondering it that's THEE Mladen joined the community, hope so. @Mladen

famous MT4 indicator coder.

Edited by Caseynotes

Share this post


Link to post

Interesting comparison in the daily BTC and Gold charts both showing consolidation following a period of uptrend though Gold has a more flag type look to it.

BTC back up to tussle over 10800 support turned resistance.

Daily and H1 charts;

image.thumb.png.8ae107f31438966a1a4e7915e16b74dc.png

image.thumb.png.d704942147edd873e664f02f4505c8b4.png

Share this post


Link to post

BTC drops below the June low which may now act as resistance (9626) while 9226 is recent support.

H4 chart;

image.thumb.png.5928ef3c449edc4611a657ead4c3f749.png

Share this post


Link to post

BTC trying to break lower again passing through the recent low 9226.

H1 chart;

image.thumb.png.03d1b25f1ac5ce8c3716edcadaa13a7e.png

Share this post


Link to post

Finds support at 9061 then checks resistance at 9966, recent short term support overnight at 9628 and looking now at another test of the resistance level, failure should lead to a test of 9061 support.

H4 chart;

image.thumb.png.0588dad41271bbd07051cd5751e2af78.png

Share this post


Link to post

From this morning post BTC went for the retest of the low but didn't get there, then stormed back through 10,000. Now at 10570.

H4 chart;

 

image.thumb.png.704dbf3f2ccb7c9c7a062ea22c31b2d4.png

Share this post


Link to post

BTC and bears making use of an old support/resistance level around 10830 (green line) to turn price down, price now looking for support.

image.thumb.png.d1f515346e50eae9f4437250ec084e00.png

Share this post


Link to post

BTC had another try to break the old support turned resistance level mentioned in this mornings post, rejected again which just shows how important these support and resistance levels are.

image.thumb.png.fb1c38820b0947fb295ba56aaefa9050.png

Share this post


Link to post

BTC made a break up to test 11083 then down to check support at 10446, the latest bounce up looks strong on the lower time frames so expecting another try for 11083.

H4 chart;

image.thumb.png.cfa2d7d85fcb763b59c8ac170d2d6687.png

Share this post


Link to post

Still capped above by 11083 and below by 10310 and looking content to travel sideways, needs a push one way or the other.

H4 chart;

image.thumb.png.9004bd870403f3989dbf74670dfe5bc3.png

Share this post


Link to post

BTC tested support at 10044 but still looks inclined to try lower rather than head back up, short term resistance at 10660.

H4 chart;

image.thumb.png.cad7f508513aba96557cf4b2fe27f506.png

Share this post


Link to post

BTC puts in a H4 pause at 9669, below is the daily support level 9061.

image.thumb.png.5f5e308b6b4f8853e392586825d72440.png

Share this post


Link to post

"Ever wondered how $BTC performs during a certain months? Here is the historical monthly performance since 2012. Lowest returning month: Jan. at -0.18% on average with 3 green & 5 red months. Highest returning month: Nov. at 75.58% on average with 6 green & 1 red month."

₿itDealer @Bitdealer

image.thumb.png.7e1de086e1735d8ffe84fe30ed42119c.png

Share this post


Link to post

Big pump down in the last 15 minutes to test daily chart support level 9496.

H4 chart;

image.thumb.png.ca62763bb7920e91fb14c0a7aebb5b22.png

Share this post


Link to post

BTC retests the weekly chart support level 9061 and gets a strong bounce sending it back above daily chart resistance 9496, currently retesting 9496 from the top side.

H4 chart;

image.thumb.png.f3ae65d1d2a90d2a9ad3bafcb5c83d4a.png

Share this post


Link to post

BTC turns down at recent resistance level 10150 and heads back towards 9743.

H4 chart;

image.thumb.png.79823bb1f743114bd9b678454dacd79e.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,285
    • Total Posts
      36,252
    • Total Members
      46,218
    Newest Member
    naimat
    Joined 25/08/19 10:34
  • Posts

    • yes @TrendFollower, there are plenty of long term investors with IG and it's right they should take notice and plan well ahead for any eventuality but traders should be thinking differently and look to be responsive to changes in market conditions. As in my previous post the big indices always look a bit toppy and it's too easy to get in short too soon. Back in 2016 there was talk of impending recession for most of the year and many new traders blew their accounts continually shorting the market trying to 'catch the big one', the get rich quick trade. It was depressing to watch.  Here's another interesting chart of S&P seasonal pattern of average return 1990-2018 suggesting uncertainty in the short term before resumption upward.
    • @Caseynotes, One must remember that on average it can take around 18 months from when the treasury yield curve flips or inverts to the start of a recession.  People talk about Dr. Copper but another commodity that it is worth keeping an eye on is Lumber. When housing construction begins to drop then that can be one of many indicators to have a look at. Others are inflation, interest rate direction, wage growth, unemployment, etc. There are many well documents indicators which signal a potential recession is around the corner.  From a trading perspective one should not worry as long as one is comfortable shorting. Those who are not may struggle to consistently make enough profits during a recessionary period. 
    • @Caseynotes, Yes that is right. I have seen some calling the recession for the past two to three years! They have been calling it as if it is around the corner. Then when it does not come they move the goal posts via obscure technical analysis. When one challenges it, one is deemed negative or a naysayer.  Corrections happen large and small. Investors sell investments to take profits. This has been happening since the markets began. Prices go up and down. Prices are bullish and bearish. Of course trading sentiment plays a big part but for me following the price action and letting the price action lead you to a trading decision is key. Trying to wait for the price action to follow your view and then changing the narrative by giving technical reasoning when it does not follow your view in my opinion will lead to missing out on trading opportunities.  For a sound trader, recessions, should not be feared but welcomed. If one understands how prices react during recessions then one can prepare their trading strategy for this outcome but for when it happens and not before.   
×
×