Phases of the Bitcoin Halving (2015) - Part 1
Bitcoin is currently ~189 days away from its Halving in 2024
So in this post, we'll be looking into the specific #BTC price behaviours in 2015 during the 189-day period leading up to the 2016 Halving
This is done to better understand the recurring phases in Bitcoin leading up to the Halving
This will inform our understanding on what to expect in the coming several months for the 2024 Bitcoin Halving
2015
1. Pre-Halving Period (orange)
At this very same point in the cycle (~189 days prior to the 2016 Halving), Bitcoin retraced -25% inside a new Re-Accumulation Range (green-red)
This Pre-Halving Re-Accumulation lasted until two months before the July 2016 Halving
This is when Bitcoin performed its Pre-Halving Rally
2. Pre-Halving Rally (light blue)
Bitcoin finally broke out from its Pre-Halving Re-Accumulation to form a new Pre-Halving Local Top of ~$776 (light blue box)
3. Pre-Halving Retrace (dark blue circle)
Just before the Halving, Bitcoin experienced a -40% retrace to form a new Post-Halving Re-Accumulation Range ($566 - $776)
4. Post-Halving Re-Accumulation (red)
This Post-Halving consolidation (red box) lasted for 6 months until Bitcoin finally broke out from its Post-Halving Re-Accumulation Range in December 2016
5. Post-Halving Parabolic Uptrend (green)
After breaking out from its Post-Halving Re-Accumulation Range...
Bitcoin pulled back to retest the top of said Re-Accumulation Range as new support
This retest was successful, fully confirming the breakout to enter the Parabolic Phase of the Bull Market (green)
Part 2 (The 5 Phases of the Bitcoin Halving in 2019)
• Part 3 (How 2015 & 2019 could impact the 5 Phases of the Bitcoin Halving in 2023