Welcome to my current Bitcoin price analysis! Slow motion comes into play, because the Bitcoin Halving is not long to wait. But what will happen next? It comes before the Event for the Bullrun? Will shoot the Bitcoin price in the height of the rest of the global markets finally decouple? Or do we need to set us on further in the red on the market?I’m going to look at this article for answers to these questions and give you my view of things to explain. So much can be taken already in advance: It is an event waiting for us with security-rich month!Please note: None of this articles listed is to Formulate in any way the trading recommendations. This and the following article are solely for the exchange of information with our readership. Neither crypto Monday nor the author of this text shall be liable for any loss incurred as a result of the trading decisions of our readers. DYOR!
Contents
The breakout from the Rising Wedge
On Saturday the 11.04.20 it was finally over. The Bitcoin exchange rate has closed a daily candle outside the Chart pattern Rising Wedge and below the bottom trend line. According to the Textbook, we may now expect a further price collapse, which will push the Bitcoin price is once again a decent piece to the bottom.You shouldn’t keep track of my Analytics regularly, I can recommend you to take a brief look at my last Bitcoin price analysis. There, I focus on the Rising Wedge as a Formation, explain how it is and how it is in the great Plan of a repeating pattern fits. Last Bitcoin price analysis.Since Saturday has gone to the Bitcoin price in a sideways movement, which reflects current uncertainty of the market. What do you expect? It comes again to the upswing shortly before the Bitcoin Halving? Or is it more downhill?If the Crypto market a teaches again and again, it’s that we should never be too sure what’s going to happen next. But the technical analysis is about probabilities, and currently, the probability is much higher that it goes downhill as it goes uphill.Read also: Bitcoin Whale Alarm over 1,000,000,000 USD to BTC moves
Reasons for a falling Bitcoin price talk
Why, it’s more likely that we can expect a price collapse? The following are the reasons from a technical point of view, Essentially.The Rising Wedge is a bearish Formation, which is confirmed once the price closes outside the trend lines. This is the Bitcoin price of the case.The Bitcoin exchange rate has bounced off last week vehemently at the 50 MA Daily. This trend line represents the price history of Bitcoin, obviously, currently a strong resistance. Its course is directed downward, so you will exercise in the next few days, continue to put pressure from above on the Bitcoin price.According to the Hash Robbin indicator we are currently still in the Phase of a Miner’s surrender. Bitcoin miners are the actors on the market that exert the greatest pressure to sell. Currently, we can assume that you need to sell a large part of the mined BTC to cover their operating costs.Past patterns have a tendency to repeat. So far, we are in front of each Halving back to the lower trend line of the Yope Channels returned before it came up then, slowly but surely, to a Bullrun with a new all-time high.Among other things, for the above reasons, it would not surprise me personally if we are going to see before the Halving Event once a Bitcoin price of under the$ 5,000. Even if this is likely to only be in the short term the case.If it really comes down to it, it will show soon. The Bitcoin Halving is not a long to wait and is only 1 month. In front of us, so very interesting times are likely to be, and I’m excited, personally, am really, whether the pattern of the last 10 years will be repeated or whether, in 2020 everything will be different. What do you think?Read also: Bitcoin Stock-to-Flow of 100,000 USD moon forecast failed? Analysts indicate possible errors
Do you want to position yourself to market in time?
You’re still looking for a trading platform? We want to help you to find the right contact for a safe, secure trading with Bitcoin. If you are still in search of a reliable, regulated Broker that you trade with Leverage (2x),taking Long and Short positions,deposits via PayPal,the Sending of real Bitcoins in your Wallet andthe use of a wide range of trading tools,without a Download of any Software is necessary,then, is the world’s leading Social Trading platform eToro is just Right for you!Here you will benefit from a pleasant Design and easy and intuitive operation with customer service around the clock. Register today, without obligation, and try out all the features of the platform, without being forced to trade with real money.What are you waiting for? If you’re convinced, then you must act now!62 % of private CFD accounts lose money. No EU investor protection.You look better Videos to read the article? Then look at our Youtube Channel over. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)