Bitcoin: USD/BTC (BTC=X) Dates To Watch
Any good investor, trader, or financial analyst – be it Bitcoin, crypto, or traditional financial markets – conducts due diligence such as fundamental analysis and technical analysis before and while taking a position, to minimize risk and maximize reward.
As part of this analysis, oftentimes, analysts also look for important dates that news might break, or an event may occur that could have an impact on the price of the asset they are interested in. Here are the most important dates and events in the pipeline for the rest fo 2019 that could have an impact on Bitcoin price.
The Most Important Bitcoin Dates For the Rest of 2019
Certain events can trigger bullish FOMO buying, or bearish panic selling, depending on the severity of the news and how the news or event might impact the greater global financial landscape, such as the recent Fed rate cut causing stock markets to crash and safe-haven assets like gold and Bitcoin to rally.
One important date, is today, August 22 – the date when the New York Attorney General office’s injunction against Bitfinex will expire.
The next major date is one that’s been the talk of the crypto community over the last week and has been cited as the catalyst that’ll ignite the next bull run since it was announced in early 2018. The long-awaited and much-anticipated Bakkt Bitcoin futures trading platform will launch on September 23. The date also coincides with a Gann pivot, which typically suggests a change in trend of a major price movement.
October is jam-packed with exciting events that could create serious bullish sentiment in the market around Bitcoin. Throughout 2018, potential Bitcoin EFT approvals had kept hope alive and bulls buying. Each time proposals were rejected, so was Bitcoin price from whatever rally it had been on.
Two additional ETF decisions will be made in October. October 13 is the SEC’s final deadline to make a decision on Bitwise’s ETF application, while on October 18, the SEC must rule on the VanEck/Solid X ETF proposal, which most analysts believe has the highest chance of succeeding due to ties with CBOE.
Lastly, in October, final rehabilitation plans are expected from the Mt. Gox civil rehabilitation case. Early Bitcoin investors will soon learn the fate of their holdings and if they will receive a portion of what was lost in the most notorious hack in the crypto market ever.
The Most Important Date for BTC of All
The final stretch of 2019 has no shortage of important events for Bitcoin and crypto, but 2020 will have arguably the most important event of all: Bitcoin’s next halving.
Bitcoin’s halving – a pre-coded event that causes the BTC reward miners received for validating the network in half – occurs around May 2020.
The Bitcoin halving throws off the delicate balance of supply and demand, causing price to spike. The industry’s most respected analysts expect the halving to cause the value of Bitcoin to rise significantly, potentially reaching $55,000 per BTC by May 2020.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 11,478.65.
The projected lower bound is: 8,803.80.
The projected closing price is: 10,141.22.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 33.4006. This is not an overbought or oversold reading. The last signal was a buy 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 43.84. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 57 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -66. This is not a topping or bottoming area. The last signal was a buy 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.
Rex Takasugi – TD Profile
FOREX BTC= closed down -8.000 at 10,172.000. Volume was 94% below average (consolidating) and Bollinger Bands were 13% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 10,328.03 10,703.89 7,256.10
Volatility: 61 79 79
Volume: 81,127 89,187 81,540
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX BTC= is currently 40.2% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 18 periods.
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