How Will Bitcoin Perform as it is Coming Closer to the Halving Period?
Kevin talks about the recent Bitcoin price action. He foresaw the drop to $8,500, even though the current price level is indicating a more bearish market than anticipated. In the past 24 hours, Bitcoin has dropped under the bottom level of the falling edge, but there was no breakout on the bottom.
He expects a quick move on the upside once Bitcoin clears the resistance at the beginning of 2020.
Kevin also points out the importance of the 21-day and 100-day moving averages in terms of the possible future BTC price moves. However, if Bitcoin drops under the upward sloping support line the outlook is pretty negative and we could see the world's most dominant cryptocurrency experience one the worst-performing halving periods of all time.