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I just want to set all the confusion straight regarding Bitcoin’s ranged price action since May. After each BTC Halving, the price always consolidated for several weeks before a bullish break-out from the range.<\/p>\n
To put this into perspective, following Halving 1 (November 28, 2012), BTC consolidated for 6 weeks within a roughly 12% range. After Halving 2 (July 9, 2016), it consolidated for 16 weeks within a roughly 17% range (not counting the flash crash of August 1, 2016 which was quickly corrected back into range).<\/p>\n
The obvious question, is how long will BTCUSD consolidate this time before the new bullish break-out? That is anybody’s guess and largely depends upon the stability of the stock market, but if it repeats the post-Halving 2 sequence, then it can consolidate until September 2020. The Triangle pattern is helpful at putting the expected variation in perspective.<\/p>\n
What is for sure, is that Bitcoin trading sideways after a Halving event is not strange but is the norm. We are still in the accumulation phase, so if you are a long-term Bitcoin investor don’t lose sight of the bigger picture.<\/p>\n
Do you agree that trading sideways right now is normal for BTC?\u00a0Feel free to share your work and let me know in the comments section!<\/strong><\/p>\n Please like, subscribe and share your ideas and charts with the community!<\/p>\n <\/p>\n Tradingview link:<\/p>\n