Bitcoin Post Halving Charts

Good morning everyone! I hope you all had as awesome of a weekend that I had :) Record store day was really fun and I picked up a bunch of new albums from artists that I had been listening to for a while but never got around to it. However, its now the week and it's time to get back to the charts.

Last Friday, the Bitcoin Halving came to a conclusion as investors and traders all watched on the sidelines to see where the price would go.

For our notes:

The halving candle closed red

Bitcoin dipped, but quickly bounced back as the initial reaction

Since the halving, Bitcoin has rebounded slightly

The move was inline with our expectations and historical charts as well from previous halvings

With that said, let's take a look at the charts.

Now I know what your thinking, what is this week looking structure? Well, it's a bull flag!

Weekly Chart Breakdown:

Bitcoin failed to close below the $64,950 fibonacci level three times on the weekly

Possible bull flag building on the weekly

Large buyers at the $60,000 - $64,000 range

There was a possible triple top on the daily which lead into the Bitcoin Halving

For Notes:

-100% of halvings occured after a move to the all time highs

-100% of halvings occured after a bearish pattern within a bullish pattern on a higher time frame

Daily Chart Breakdown:

-Bullish continuation structure

Triple Top breakdown into support

Daily Sellers at the top of the symmetrical tringle

-Looks like too easy of a long trade here

RSI overextended to the downside with a breakout pattern forming

VI neutral starting to curl to the reversal side

Adding the Halving Candle to the charts.

Daily halving candle closes green

Buyers lower than the price below the structure

Right now the 4 hour is starting to form a bottoming out pattern, buyers might use this level as a squeeze or as an area of reloading back at the Weekly Fibonacci level.

4 Hour Chart Breakdown:

Sellers are at the current level and the $70,000 level

Sell side imbalance at the $70,000 level

Buyers at the $64,950 Weekly Fibonacci level

Buyers at the $60,000 - $61,755 range

The 1 hour is trending to the upside in a tight channel. Whether or not this will break down or break to the upside is yet to be determined.

1 Hour Chart Breakdown:

No notable selling liquidity on the 1 hour

Tons of buying liquidity at the $60,809 - $62,150 range

More buyers from $63,295 - $63,823 range, $64,305 - $65,104 range, and the $65,677 - $66,008 range

Bitcoin is moving to the upside after the breakout at liquidity at the $66,148 level

Also fighting sellers here at the $66,700 price

15 Minute Chart Breakdown:

Sellers here at the current price

Bitcoin found support at the buying liquidity down at the $65,918 price

Sellers at the $66,997 price

Buyers are right now battling the sellers for more upside, huge volatility candle printing. It will have to close above the sellers for more upside.

5 Minute Chart Breakdown:

Nothing much different than the 15 minute chart

Liquidity at the $66,190 range acting as support

Liquidity at the $66,800 price acting as resistance

Other than Bitcoin starting to make higher lows, not much else to mention.

1 Minute Chart Breakdown:

Sellers at the current price and $67,007 acting as resistance

Buyers appearing intraday acting as support

I know this post was shorter, but I am trying out a new structured way of writing. This way I can get you the facts and trends without writing a huge paragraph that no one has time to read. However, Bitcoin looks bullish on all time frames. If buyers continue to step up, then we might see a retest of $70,000 by the end of next week.

From my research, the Bitcoin Halving is the most powerful bullish catalyst in the long term. However, the first larger move is seen 100% of the time after 100 days.

I think if we dip before then, we should keep our eye on a buying position.

I think if we create another all time high before then, we should keep our eye on a short position.

I cannot always be correct, so do your own research and hopefully by that time we are ready to enter in a position either way.

That being said, I think I will start another funded account challenge. I should be able to get funded within a week. Once I do I will begin making the Futures posts again.

-Other than getting another account funded, I am going to update my screener. I want the screener to be an absolute beast. For short squeezes and options alerts.

-Researching new charting tools. The indicators I use and other tools I impliment on my charts are awesome, but I think I am missing one more piece to the puzzle. With this, I will be able to make even more accurate charts.

-I might be partaking in an interview with MooMoo! Stay tuned for that.

Thank you for reading and I hope you all enjoy your week in the market.

At the time of writing, Bitcoin is at $66,777 and reversing off selling liquidity