Jump to content

Epic Pennant on BTC Chart

Recommended Posts

Bitcoin's price got to where I thought it would be at this time (although I did have a pretty broad range).  Interesting to note the price broke the line of the daily close downtrend that Bitcoin has been in since December 2017.

Zooming out, today will close out the monthly candle.  A close above $9,103 will break the monthly downtrend Bitcoin has been in since December 2017.

From here I suspect a breather maybe for a day or two before Bitcoin makes another push up. 

Once these downtrend lines fall I will start to feel better about this market. 

I personally don't consider a bull market to have officially started until Bitcoin sets a new all time high.  So far Bitcoin has been in a bear market for - Two years, four months, twelve days and this morning.  

ETH will make a golden cross of it's 50/100 Day EMA toinght.   

Less than 12 days to the halving.


4 30 2020 daily.png

4 30 2020 monthly.png

4 30 2020 eth.png

Link to post
Share on other sites
  • Replies 8.6k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

Posted Images

Waiting for a significant break above the FLD. It could also drop, but my (biased) projection is for btc to rise.

I have just spent a little time adding simple envelopes back to my Trading View FLD script which already has fib envelopes available, if anyone wants the code I'll be happy to share it here (with @Eric123's consent).


Link to post
Share on other sites

Bitcoin came close to breaking the monthly down trend line yesterday (definitely closer than most would have thought last week), but it didn't .  Bitcoin needs a daily close above about $9,400 to break the 2017 downtrend.

ETH's chart looks the best with the 50 Day EMA making a Golden Cross of the 100 Day of the EMA right now.

@jMusic  Share away.  Guys trade at your own risk.  I personally don't use Fib levels, not that that means they are not useful. 



5 1 2020.png

Eth 5 1 2020.png

Link to post
Share on other sites

Less than 10 Days till the halving.  

We have some key levels to break, as per the trend lines.  If those fall we will be in good shape.  I think Bitcoin will have some consolidation gather some strength and then break though the lines in a big way.   ETH looks is the early runner which hopefully heralds some upward movement. 

At the time of the previous halvings  the hashing power was

2012 halving   27 TH/s 

2016 halving   1.5 Eh/s  55,000x increase (about)

2020 bitcoin is nos 110 Eh/s and has reached as high as 133 Eh/s  so 100x or so increase 


@Milly238  I think XRP will follow Bitcoin.  

5 2 2020.png

Edited by Eric123
Link to post
Share on other sites

Bitcoin's 50/100 Day EMA is on schedule to make a Golden Cross within the next 5 days or so.  The halving is within less than 9 days, both are positive indicators for price.  Again I think the price is gathering some strength for the next run up.  Will price fall after the halving?  Not sure at this point, I think we may get pull back but nothing really significant.

ETH's price is taking a breather with the rest of the market but the 50/200 Day EMA's will make a golden cross today.  

Bitcoin's hash rate is the 5th highest it has ever been.  

5 3 2020.png

Link to post
Share on other sites
6 hours ago, Lawyer said:

Decision time would be right near the halving


I will be buying regardless; whatever occurs in the short term from the Halving will not supersede what Ripple are building in the background for the long term health of XRP and the ecosystem 

Edited by RipplePiercing
Link to post
Share on other sites

Halving is happening next Tuesday.  Hash rate is the 3rd highest it has ever been.

@Lawyer  right on with the chart.

Not only is the pennant coming to a head as well as the halving but the 50/100 Day EMA is going to make a golden cross.  I went back and looked briefly at the chart where Bitcoin's Pennant was coming to a head around an anticipated 50/100 golden cross and they seem to always break to the upside as far as I can tell.

I'm looking to pick up some more this week.





5 4 2020.png

Link to post
Share on other sites

One week till the halvening.  50/100 EMA golden cross coming up.  Hashrate near ATH.  Traders bouncing the price above and below $9k with Bart Simpsoms periods above 8,900 have only been brief so far.  Once we get the golden cross I'm hopeful we can put 9K levels in the rear view although a post halving pullback may happen (however i think it will be brief)

5 5 2020.png

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.