Bitcoin Controlled Supply
Bitcoin are “minted” during the creation of each block at a fixed and diminishing rate. Each block, generated on average every 10 minutes, contains entirely new bitcoin, created from nothing. Every 210,000 blocks, or approximately every four years, the currency issuance rate is decreased by 50%. For the first four years of operation of...
interesting observations on btcoins price history.
--Bitcoin (blx coin) on 1W timeframe--
-aproxx every 53 bars, or 370 days before each block halving, the price finds a bottom:
(eg: oct/nov2011, june2015, and more recently march 2019 and march 2020)
Price coils inside the fractal trendlines (red and purple flag formation on 1W tf), then breaks out on/around the...
for the absolute idiot youtuber's, you know how they are. The Moon and his dick head mates.
100k by the end of the year now they are saying.
it beggars belief the number of people who listen to these twats
they can't even figure out short and long squeezes
the global economic crisis is bad for bitcoin, not good!
these dickheads still think bitcoin will...
So my thoughts on this price action is simple right now. We are displaying hidden bearish divergence on higher time frames, declining volume and a corrective move up towards the death cross.
In the past we commonly test the death cross before continuing down .. so my analysis stipulates we will see $7500-$8000 tested before coming lower to new lows or a double bottom.
When NVT (bottom graph) turns green in history it starts an upturn in the bitcoin cycle
we are not far from it.
4400 btc price is what I'm expecting to be the bottom as it hits the historical yope as it has with EVERY halving.
just my opinion of course but its been the same twice before,
btc price reaches the bottom of the yope channel around 4300
This analysis posits a completed grand super-cycle wave 1 with a GS wave 2 in progress. The two thick Red lines highlight likely resistance to price with an apex sometime in early 2021. Based upon this analysis an 88.6% retracement is a reasonable assumption which would take price down to ~$2250.
NVT dropping into pre bull area?
Green in the NVT shows a bottom and pre bull run in Bitcoin history
4.5k to 5.2k could bring the NVT lines to that level
it may do the same this time?
BUT it looks like futures may have turned bitcoin into an asset!
just my opinion
6600 and down to 3800 could happen
also, bull runs always start when the NVT trend line goes green!!
bulls are struggling to break above 6900
bear take over is looking more likley
NVT is worth watching
to be clear, and not look at youtube knobheads....
the BLX on Weekly or daily time frames with YOPE on log shows we are just heading to the LONG term bottom line like many times before. more blood? probably but it might hug that line for another 8 to 12 months.
Share this. it's normal!!!
the wilder ups and downs since the last ATH to now from pervious bear...