Bitcoin halving will be in approx 16 weeks. Comparing current price action to 2016 halving:
1. Unlike 2016, price is NOT above the and is below the 200 dMA (30 MA).
2. Unlike 2016, price peaked at 0.618 Fib a lot earlier. In 2016, it peaked approx 1 month before halving.
Conclusion: scenario – halving may already be priced in. scenario – it’s already bottom, having crashed more than 50% from 0.618. Of course 2016 is a lot different than today with more players, government regulations, and Tether. Therefore I expect a lot of and 2020 is do or die for crypto.
Published at Fri, 17 Jan 2020 15:12:37 +0000