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CEO of China-based bitcoin mining giant Bitmain, Jihan Wu, expressed his doubts regarding the next scheduled bitcoin block reward halving saying it might not trigger a new bull run in BTC prices - in contrast to public expectations.
* Bitcoin traders are watching closely for the next bitcoin halving - this time scheduled for May 2020.
* Bitcoin halvings are accompanied by a cut by half of the amount of BTC coins rewarded to miners. Usually, halvings have a noticeable effect on BTC price; though just a few traders are able to estimate what the effect will be.
* On H4 TF we see the Bearish rejection (red) candle just under the important Resistance of $8,500. Such price action, as we projected before, could trigger the Short trade.
* Indeed, we also see the bullish attenuation at the moment and thus, it makes sense to take a Short shot.
Active trade signal
Sell @ $8,300 - $8,400
Target: $7,800
Stop-loss: $8,600
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
CEO of China-based bitcoin mining giant Bitmain, Jihan Wu, expressed his doubts regarding the next scheduled bitcoin block reward halving saying it might not trigger a new bull run in BTC prices - in contrast to public expectations.
* Bitcoin traders are watching closely for the next bitcoin halving - this time scheduled for May 2020.
* Bitcoin halvings are accompanied by a cut by half of the amount of BTC coins rewarded to miners. Usually, halvings have a noticeable effect on BTC price; though just a few traders are able to estimate what the effect will be.
* On H4 TF we see the Bearish rejection (red) candle just under the important Resistance of $8,500. Such price action, as we projected before, could trigger the Short trade.
* Indeed, we also see the bullish attenuation at the moment and thus, it makes sense to take a Short shot.
Active trade signal
Sell @ $8,300 - $8,400
Target: $7,800
Stop-loss: $8,600
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
