Bitcoin (BTC) analysis thread

Do you think the halving is already priced in than?

TheGreatRecycler posted:
Do you think the halving is already priced in than?

Like i said in the above post - yes.

How do you think when the price will be higher?

Nil2589 posted:
How do you think when the price will be higher?

I think that the price has already broken its bottom, according to my forecasts for 1-2 months bitcoin will rise to 8000 $

Hi all. Let me present you my latest Bitcoin (BTC) analysis.
First of all let`s check what caused this huge dump.
The main reason must be the COVID19 world threat and yes if you think the same you`re definitely right. But… and this is quite big “BUT”, there`s also some other rumors at which I want to drew attention too.
The first one is Whales. Yes they`re greed. Yes they`re powerful. And yes, they have all the resources to manipulate the market for the simple target… to accumulate more coins at the lowest price possible. In evidence of this (or kind of evidence) I can point the number of BTC whales during this dump – more than 1940.
The second rumor which i`ve heard lately and it`s VERY interesting is that this dump was caused by the miners, big miners and they`ve used COVID19 as a look-alike trigger. In front of the halvening, big miners wanted to destruct small ones with sell off and that must be started from 15th of February. As you must know after the halving this May:
1. The production and the profitability of/from BTC will be cut in half.
2. The expenses to mine will stay the same or even bigger if there`s inflation.
3. The miners will be the same number as now.
And from 1,2 and 3 is popping a problem – competition.
How the big miners can destruct the competition of small ones and get them out of business before the halvening? Easy. With big sell offs, pushing the price down and down till the small ones become unprofitable and capitulate.
Like I said this is just a rumor but it`s very interesting one and may be the latest hashrate is kind of evidence for this theory (about 30% decrease from the latest ATH).
Now let`s get to the technicals.
1. Pivot point for this week is $5794.92 Weekly candle close above it – GOOD. Weekly candle close below it – bad.
2. 200 Weekly SMA – price is back above it – GOOD.
3. Resistances:
1st $6400 (by previous PA)
2nd $7300 (by 61.8 fibo level and previous PA)
3rd $7800 (by previous PA)
4th $8500 (by 50% fibo level and previous PA)
4. Supports:
1st $5300 (by 78.6 fibo level and previous PA)
2nd $4100 (by previous PA)
5. And last but not least check the purple marks. In short, every time when we see such high volume and such highs or lows in price, the trend reversed afterwards.
P.S. Last thing which i`ve checked is Crypto Fear & Greed Index. It shows extreme fear and I have a moto: “Buy the fear and sell the greed.”
 That is my vision for the latest circumstances and the future possibilities about Bitcoin.

I think generally for the time being it seems to be upward but in the coming weeks the US will get hard by the virus and cause another massive sell off

Looks like a rising wedge up to the previous support. I think i'll be opening some short positions...

sebking1986 posted:
I think generally for the time being it seems to be upward but in the coming weeks the US will get hard by the virus and cause another massive sell off

Or just this virus hit will be used as a curtain for another dip? 🙄

great work momo! keep it coming

Good work. It’s nice to just look at such a beautiful analysis.

Thanks guys. 😉

You really do that work well. keep sharing.

The Federal Reserve is now printing INFINITE Dollars with 0% interest. $USD will soon be WORTH LESS. The time has come to be your own bank fellas and look for gold or bitcoin instead, bitcoin has already started going up(source - https://bitcoin-pris.se/) and there's good profits if this trend keeps going.

For those of you who has alot of dollars time is of the essence, few hours ago somebody just bought 1000 BTC with USD over kraken, and that's likely not the last whale to come, soon big corp around the world are possibly going to get rid of their dollars which could mean that we're looking at an all time high for Bitcoin and other crypto currency as the monetary market is crumbling and resources gets harder to transport because of the virus and politics.

I think now is the time to buy bitcoins

I think Bitcoin will rise to a max of 6694.90 and then go down again to 5781.00.
If anyone was going to sell btc's, it's time to do it. Or you should wait out these movements and expect a price increase above 7k.
But with the current situation, I don't know when this happen.

Hi all. Here`s my latest Bitcoin (BTC) analysis.
First of all I`ve got to mention that this is my short term analysis and it`s going to be really short.
In the next few days i`ll present you my really long term (kind of edited) analysis too.

Now let`s get to the technicals.
The main point here is the ascending triangle at 4H chart. This pattern most of the time leads to a bullish breakout but we`ll see.
1. Pivot point for this week is $6182.09
We`re far above it right now which is awesome for this and the next week.
2. Resistances:
1st $7100-7300 (a MAJOR one) – that`s the top of the ascending triangle and also 61.8 fibo level at weekly chart. A break above it will be a strong bullish signal.
2nd $7800 (by previous PA)
3rd $8500 (by 50% fibo level and previous PA) – here the resistance can be even a bit lower by VPVR indicator.
3. Supports:
1st $6400 (last resistance)
2nd $5600 (MAJOR support by historical PA)
One last point for today. Thanks to Glassnode we can monitor a lot of on-chain activity out there. The last thing that i`ve noticed is the enormous amount of Tether USD (USDT) which is stacking into exchanges. And now you`ll be asking: “So what?”. USDT is the easiest way to buy/sell BTC for the so called whales. But is you`re selling BTC, the you`ll cash out BTC for USDT and then for real cash. But when you want to be fast with buying BTC, then you`re staking your real cash to USDT in exchanges and just patiently wait to start buying BTC. Isn`t simple enough?
 That`s from me for now.

I can see rejection at $7200ish and then heading back down to the recent lows for a great buy price for the halving.

Slow and steady rise for me for next week

I suppose will test 6k price area next week, because instability is increasing and investors know that BTC is not the safest place during a crisis.