Topic: Btc:Could we expect a bigger push -up? - page 2. (Read 255 times)
It seems that this push up will be unpredictable. The price went 7k last time and there is another plummet. This might be a temporary pump but I hope that I will earn a lot in the next days.
halving on its own is only a short term hype that has never been able to cause a small price rise for a short amount of time before the correction hits. the real rise is always due to adoption and mainly occurs after the halving when the real effects of 50% smaller daily new coins is felt by the entire market accompanied by an increasing demand.
right now as the big manipulated dump is coming to a conclusion and the whales accumulation is near the end we are seeing price go back to above the intrinsic value and get out of the undervalued state. this could kick start the rally although the fear could still be a preventing force.
right now as the big manipulated dump is coming to a conclusion and the whales accumulation is near the end we are seeing price go back to above the intrinsic value and get out of the undervalued state. this could kick start the rally although the fear could still be a preventing force.
Halving is near and this is the only one reason why i still a bit optimistic about btc price
I share in your bullishness on Bitcoin and I guess it's the safer route to go, considering the happenstance globally. Besides, May is just around the corner and I anxiously await a fresh wave of reawakening in Bitcoin price because of Halving in May. We shall likely experience another round of the post August 2017 era that saw the first ever Bitcoin fork.
BTW, it seems the days of Bitcoin forks are now over?
BTW, it seems the days of Bitcoin forks are now over?
Btc: Could we expect a bigger push-up?
Let's get back in the game, like i said earlier this weekend i took a long, my entries we're 6 710, 6 660, 6 610 & 6 580.
But why am i bullish?
1. Breakout from the hold downtrend channel
It's not the first time that it happened, but i still expect a good reaction from bulls.
After breaking on the 3d timeframe we saw a drop around 6 610 which was the broken resistance now turned into a support.
2. Halving vs Disbelief
From what i saw the majority lost more than 50% of their account in the last drop from 10.5k to 3.8k, we can see that a lot quit or are sitting in Usdt at the moment.
With Halving coming in a month it's the perfect moment to start pre-pumping Bitcoin. Which doesn't mean moon yet, but at least to see a normal correction from the drop.
3. Still be careful
My current strategy is to stay in the long until 7 710 - 7 975 (0.618 fibs), from there i would expect another drop around 5 300 (0.236 fibs).
If we get there, i will close my longs and will switch about 50 - 75% of my Btc position in Usdt, i don't want to miss the start of the wave up so i will always keep some Bitcoin.
If you're not in yet, i will add more around 6 870 - 6 820.
Cheers!
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