Much ado about nothing? Was the halving a non-event?

  • The MACD shows a reversal of the upward trend.
  • The bears remained in control for the fourth day in a row.

BTC / USD daily chart

BTC / USD daily chart

BTC / USD fell from $ 8,727.75 to $ 8,636.50 when the bears kept control for the fourth day in a row. Bitcoin has just experienced it third halving eventHowever, it looks like it won't be the big bullish event for which many have touted it. Many are currently concerned that miners may exit the market due to the decline in mining profitability.

The price tends above the red Ichimoku cloud. The Elliott oscillator has had two red sessions in a row while the MACD shows a Reversal of the upward trend. Both indicators suggest that general market sentiment is bearish.

On the other hand, buyers have to defend them $ 8,390 and $ 8,125 Support levels. On the top there are two strong levels of resistance at $ 8,829.50 and $ 9,181.45.

Key levels

(tagsToTranslate) Bitcoin (t) CryptoCurrencies

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