@Khant
A Week Before Bitcoin Diamond Halving (TA/History Comparison View)
`Bitcoin Diamond will follow suit halving at block 630,000 mimicking Bitcoin, which is estimated to happen on the 18th of May, Bitcoin diamond will halve two months later due to Hashrate differences between the two separate coins and other factors, We estimate Bitcoin Diamond will halve on the 29th of July.` What can we expect value-wise from Bitcoin Diamond Halving ? *****BCD/BTC 1W*****
Looking at the weekly chart,which started on **Monday** UTC 00:00 of **BCD** with **Bollinger Band**,we can see **BCD** tried to poke the resistance zone by wick.But currently candle looks as if rejected hard (but it is not over until weekly candle close on next **Monday**.)Marked Fractals resistances by yellow boxes ,with the first box ranging between *****12000-12300***** **satoshis** and the second box ranging around ****15000**** **satoshis.** **But there is a region where BCD** *****MUST***** **hold to continue uptrend.**
**BCD** must not close below *****9450***** **satoshis** on weekly chart or it will dump ,despite the bullish halving **Fundamentals.** So,in my opinion,it is good to buy at current price ,and take a loss when the price dump below *****9450***** as stated above which is **4-5%** loss at maximum while you can profit up to **50%** if it broke out of ***1********2000-12300***** **satoshis** resistance box. ***1:10 risk:reward.*** **StochRSI** looks topped but price can go on forever as osscilators are not that 100% reliable. *****BCD/USDT 2Hr*****
It's kinda looking like Inverse Head & Shoulder pattern on **2Hr** chart with Triangle forming above **50 EMA support(Red).**Incase **50EMA** support is broken down,it is good to add at cyan line I marked at *****0.8567***** **USDT** **So,lets compare** ****BCD**** **halving with his friend** ****BTG (Bitcoin Gold******)** **Bitcoin Gold** was halved on **April 18.**
**Bitcoin Gold** dumped **40%** since halving date April 18. So in conclusion,we have to be careful if we want to ride the **BCD** 'Halving' pump because it can play similar scenario as **BTG.** **If you want to take the risk of holding BCD to catch the pump,you must be able to take the loss when weekly candle close below** *****9400***** **satoshis.** **Thank you for reading .Share me ur view in the comment.** If you want more of these setups,follow me on tradingview where I usually posts charts there https://www.tradingview.com/u/tikyikhant/ Read.cash Communities All About Crypto ;https://read.cash/c/all-about-crypto-0c1c Crypto Trading Analysis/Fundamental Analysis:https://read.cash/c/crypto-trading-analysisfundamental-analysis-d43f Football :https://read.cash/c/football-97db If you want to blog in alternative site to read.cash, Register here . Get paid for searching on web with Presearch . https://www.publish0x.com?a=pnelYVLjaK https://presearch.org/signup?rid=1766597
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