back toward the upper part of the range
1 Bitcoin equals
6,873.65 United States Dollar
Apr 2, 12:39 PM est
Last night 3 30 2020 BC held support at 5867 and now has rallied to 6410.So it is banging back and forth inside the range above.Still think the resistance range on the upper end 6879-7297 will be tough to get through without a significant increase in volume.
Also don't forget this below if this theory doesn't come to fruition be careful on the long side!!
The Bitcoin halving will take place sometime in May 2020. What is the halving, how will it affect the price, and what does it mean for miners and the cryptocurrency's long-term prospects? Here's everything you need to know.
“The halving" sounds like a horror movie about an ax murderer. But it's actually the nickname for one of the most hotly anticipated events in Bitcoin’s history.
Sometime in May, the number of bitcoins (BTC) entering circulation every 10 minutes (known as block rewards) will drop by half, to 6.25 from 12.5. It's a milestone that's easy to see coming because it happens every four years and has happened twice before.
The allure of possible riches is what's drawing so much attention to the upcoming event, which is more commonly referred to as the halving (some wags like to add the “en” to make it sound ominous). The amount of supply entering the system will suddenly shrink, but the demand will, in theory, stay the same, possibly driving up the cryptocurrency’s price. As such, the event has inspired passionate debate about bitcoin price predictions and how the market will respond.