Bitcoin Price EXPLOSION Halving Run Happening NOW - $10,000 Next? Explained
Today in crypto the price of Bitcoin is absolutely exploded over the last 24 hours is the Bitcoin having hype well and truly here are we heading to $10,000 next will there be a big dip coming for you to buy after the Bitcoin halving and just why is the Bitcoin having such a gosh darn important event for the crypto economy anyway all of that and much much more in today's
So wow what a wild day for big 20 massive 16 percent price spike giving us one of those just oh So glorious green candles the thing that gets me most excited about this move is that we have now closed above the 200-day moving average this is a key level we have been watching for a while and seeing that close above it really confirms the bullish sentiment coming back in to the market also just for some fun reference the Dow Jones is still down 15% this year the S&P 500 is down 10% meanwhile gold is up 12% in Bitcoin
Bitcoins up around 24% so far this year only a third of the way through the year and bitcoin is still the best investment of 2020 and the recovery for Bitcoin it has been absolutely wild is up nearly a hundred and thirty percent since the lows of March let's just take a moment now of silence to pour one out for all those who sold at $3,800 last month hmm we thank you for your sacrifice I guess I need to clean that up now sure I thought that through a little more but anyway anyway it seems that Bitcoin is working on getting seven straight weeks of green weekly closes
Just for fun you can see on this chart here that the last two times we had seven weeks straight of green candles and just what happened afterwards will history repeat no one knows that you can certainly make your own deductions based on the way this is playing out but it's certainly food for thought but the question we need to think about is will Bitcoin managed to break out of this super triangle that's kind of been forming up really for like more than two years the time is quickly approaching for this to end and of course there are certainly a few different ways that this whole thing could play out we could keep coiling up and down until the end of the year
Before we actually see a big breakout maybe coming later this year but I don't think that this option is the most likely option I think that we're actually gonna break this triangle possibly even before the Bitcoin having happens if enough hype builds up over the next two weeks but that line of resistance around $9,700 is probably not going to be easy to break at least not to get a weekly candle closing above that however if we do break that that line then the honey badger may well truly be unleashed and of course you guys know what happens when the Bitcoin honey badger gets out of its cage it goes crazy the Bitcoin having pre hype run it's here it's happening right now there was a slight delay thanks to the Mexican beer crisis and the relating economic crisis that came out of that but we could now indeed be seeing that pre having speculation run playing out
before our eyes so enjoy it it's a great moment in time now the most exciting scenario would be as follows by the way on this chart you'll see at the bright green line that is the date of the Bitcoin having so the having hype could push us not just to $10,000 but actually even up as high as eleven or twelve thousand dollars in the next two weeks but do remember that this could be nothing more than a buy the rumor sell the news kind of event for the Bitcoin having but if we do break that resistance line that does take us over ninety seven hundred dollars and potentially much farther beyond that but look back to 2016 there was a 30 percent dip that happened in the weeks following the halving
If we can't indeed climb back to $10,000 then a correction of 30 percent would actually bring us back down to $7,000 if we can reach $12,000 then I move back to $9,000 as possible that would be the strongest move I could amass we have a nice breakout above that line of resistance followed by a retest back down of that resistance flipping the resistance into support be awesome but this having is not the last having everyone's unique in its own right the pre having price action has actually been very very dissimilar to the previous having because of the crisis so the post having dip it may not play out how many people expect it to that being said we cannot ignore the wider economic situation the possibility that global markets could be pushed much much much lower and that bitcoin is not necessarily immune to those kind of moves
Goldman Sachs just issued a report calling for another major correction later this year means Goldman Sachs can't really trust them but you know take it for what you will if that does happen then there could be some more sweet sweet Bitcoin dips ahead to buy so that's definitely a bonus for the ones who want to get more bitcoin without a doubt however you don't need to FOMO and you don't need to buy the dip to be successful a Bitcoin you can just stack SATs and chill it's the easiest most stress-free way to do Bitcoin