Looking for BTC movements until Bitcoin Halving 2020

On this graph, we use Elliott Impulse wave (12345) with trendline, Rectangle, Ellipse tools and MacD below.


The graph shows really impressive, some of the TA's said that this will fall under "bearish double bottom" (bottom 1 and 2 positions on B and C waiting for breakout on C) or "inverse head and shoulders" pattern in the long run. 


The bottom of A shows $2805 last 2017 and the bottom of B is $3242, While on C they're looking for $5,5k for the bottom and if continues it will fall under $4k correction. But we expect these rumours about the possible scenarios.  On rectangular tools C Wave 4 we expect that this is the lower position. Since the early price decision is still undergoing and lots of traders are not expecting the same last year they called Bearish December. If that would happen you have to prepare your huge buy order why? On wave 5 the expectations for mass countries blockchain adoption is in 2020. Lots of countries are now doing blockchain adoption most especially in China, Australia, Asia, etc. 


The year 2020 is also known as Bitcoin halving Year, expected to have a huge impact on bitcoin price, This would be on May Next year. Possible mining hash rate would be change and the coin reward for mining new bitcoin blocks will drop from 12.5 to 6.25.


 


You can check it here


https://www.tradingview.com/chart/BTCUSDT/jzTWRg6d-Looking-for-BTC-movements-until-Bitcoin-Halving-2020/


 


Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)


Disclaimer: This is for educational purposes,it is not intended as a financial advice.


The analyst won't be responsible for a loss of fund. The trader must be able to manage risk.


 


#Trend Analysis


#Chart Patterns


#Wave Analysis


 


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Thanks a lot!

COMMENT

19

Athar Saleem
26 Nov

The year 2020 is forthcoming with high expectations in regards of Bitcoin specifically.Moreover,a good piece of information about Halfening.

2 REPLY

15

salim ansari ansari
26 Nov

After the Haveling Bitcoin increase like  bomb ..... every time ... soon bitcoin will increase after haveling we know 2012.... and 2016 and... 2020 

0 REPLY

17

Bitcoin Bee Reporter
27 Nov

Indeed but the correction is still on process. We will see what happen next :)

0 REPLY

24

preview not available Shadda 🇵🇰
26 Nov

This halving will be very important. Thanks for depth analysis.

0 REPLY

17

Bitcoin Bee Reporter
27 Nov

You're most welcome sir. Thank you.

0 REPLY

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