Will The Bitcoin Halving Kill Crypto Mining Stocks?

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TIMELINE:
0:00 Bitcoin Analysis
10:20 TeraWulf (My Favorite)
17:00 Riot Blockchain

Today we breakdown #bitcoin and other #crypto mining stocks. There is a ton of fear, uncertainty and doubt about the future of bitcoin and other stocks like hut8, marathon holdings, riot blockchain, TeraWulf, etc. Will the price trade at 2x the halving value? Will there be a ton of companies that belly up and have to close down?

From $17,000 basically beginning of 2023, we tracked bitcoin and other mining stocks extremely well. Being patient, simplifying things and STOP guessing.

I think wall street has seriously reevaluated the books across the entire sector. Debt is definitely a main concern after MARA paid off 300M worth especially when they had until 2025 to pay it back.

Avid Trader is not a Series 7 licensed investment professional, but a digital marketing manager/content creator to publicly traded and privately held companies. Avid Trader receives compensation from its clients in the form of cash and restricted securities for consulting services.
Exact compensation is disclosed in client companies filings.

*****I AM NOT A CERTIFIED FINANCIAL ADVISOR AND YOU MUST DO YOUR OWN RESEARCH AND DUE DILIGENCE BEFORE EVER BUYING OR SELLING A STOCK. NEVER TRADE SOLELY BASED ON SOMEONE ELSE’S WORD OR EXPECTATIONS OF A STOCK!*****

Today I’m going to show you how to chart like a pro specifically when it comes to bitcoin and the crypto mining sector first if you don’t mind smash that like button click and subscribe if you haven’t also turning on those post notifications I’d greatly appreciate it

When it comes to charting I want to be as simple into the point as possible I don’t want to over complicate things I don’t want a million lines and tools and indicators cluttering my chart I promise you all you need is the price Action Now

What we want to do is focus on areas in which the price is strong and then versus when it’s weak now the only thing that I’m looking for when I start is points of significance or directional change so when we go all the way back right we have to observe where was the

Top right here at 69,000 right was the top right and this again is what we call all-time high right so we’re not focused on this anymore but we have to acknowledge where the top is now pretty much from there it’s just a complete markdown all the way to 177,000 I mean

This gets crushed consolidates gets knocked down consolidates gets knocked down right just very distributive now we have our break in the trend right this is our break of the downtrend it comes from 69 all the way down here fast the 17,000 okay so we have to now Mark that

Line as you could see a 17,000 uh 638 okay so that’s again important for us to Mark at least we’ll say for right now this is our temporary B for bottom okay so this is pretty much June July right if we’re looking at the time frame here now when we go back to

Let’s call it mid August August September here on the timeline two months later right we’re testing this range which is very hot so we test this range it gets again knifed down we test it again twice it gets pushed down three times it gets pushed down even lower

Than when that previous support was okay so now we have a few things mapped out we have our support temporarily and then we have our resistance temporarily right here is a bottom it bounced about you know just over 8,000 points here within two months right from 17 all the way up

To 252 and then the resistance here from 252 all the way down here to about you know 15 and change okay so this was a big drop right this fell right about 10,000 here okay and that again was from August September all the way down to November December right just so again if

You want to see that time frame and what makes sense in your head so we have a lot of volatility here but we have a decent range that we’re working with right now I think it’s clear we have the bottom that’s mapped out really well okay it starts to really melt up but

Again what we noticed in the past is now relevant again so like we just mentioned right the first time it touched here it got ripped down the second time ripped down third time went low and then again made a lower low now that was again August September we’re looking at next

Year February right so got pushed down once pushed down twice pushed down three times this is a point of significance right so clearly it’s not just once it’s now twice so this is not only a line of resistance this is a supply Zone here which is showing you over a multi-month

Period when the price gets to 24,200 and above there are people selling stock trying to push it lower and then I’m sure on the flip side there people turning around selling stock and putting bids in you know all at these ranges here to reaccumulate lower before again pushing it higher which is

Ultimately what we see but still we have to map out this pink or purple range because we saw right going back from July of 22 where it rejected three times here and then it ends up being relevant again back in February and then March of that next year so very important okay so

Now again we keep that range the same and what’s very interesting is it melts all the way up right goes all the way to a high here and then ends up retesting that range that was previously resistance now as support now this is textbook here in terms of playing

Breakouts right we want to wait for the breakout and the retest of that previous Zone which is exactly what we see so that’s why I’m so bullish on bitcoin here and we’ve been tracking it because this previous line or this previous Zone in which it struggled for a long time

Right nearly a year now finally breaks out and uses again resistance as support or the ceiling as a new floor and then it bounces and makes a new high and then retest the same range again and bounces tests it again and bounces and ultimately starts to melt up so again

This area or this Supply zone now became a demand Zone this resistance now became support right if flip-flopped and that happens a lot this is very very bullish now ultimately right we just look for the break right as it got the break it really started to melt up and pretty

Much uh the break I think would be somewhere from like this range right if we were to map out you know historically where it’s got really marked down that would probably be like my Supply Zone okay and then it just got absolutely out of control it accelerated and again

Melted up here so now from this point right when we’re going from let’s say October all the way up to December right it’s pretty difficult to try and map out where it’s going to go right it’s just ripping up right I’m not trying to guess when it’s going to fall or when it’s

Going to pull back right we could have done this a million times where we put the daily close there the daily High the daily high but what’s the point of mapping it out when it’s just ripping right it just keeps going higher and higher and higher so let it ride you

Know let it chill and I tell this to people all the time sometimes you just have to kick your feet back and observe right it melts fizzes all the way up fast right 26 27,000 all the way to 36 37,000 fast this is like another 10K rip

Super super fast again look at the time frame right October to the end of November here very fast and then still goes all the way up here to nearly 43 44,000 so monster rip you know 15 20,000 Point move and then now it starts to pull back from here we can now gauge

Okay here is our temporary support finally after months here is our bottom right and again pretty much just observing it from there so it touches it it bounces touches it it bounces touches it bounce right you get the trend so it’s pretty much doing the same thing

Here and then finally oh we get that break but again it’s a false break it’s a be trap and then it ends up again really starting to melt so this is now getting out of that distributive uh sort of feel and look now we’re starting a whole new phase of accumulation at 17

18,000 all the way up to 20 30s and now in the 40s so from here right we just want to zoom in a little bit right this line that again sort of acted as a barrier it’s not really resistance but you know sort of this range here if we

Want to say uh was tough to get above and now sort of broke out and retested it again very similar to what we just saw you know before it took this leg up right it sort of you know touched and touched and touched and touched and

Finally it got the break right ripped up made that new high and then ended up coming right back down and retesting before bouncing so again uh very very textbook the way it trades which is interesting you just have to be patient that’s all it is so we M out our points

Of significance right here was our first bottom right the low here was 4,222 right where it really stopped and it ripped all the way up to almost 49,000 fast right this is from uh the last or second week in December to or it’s actually one full month right

December member 11 to January so in one month again this went from 40 all the way almost to 49,000 so this is fast almost 8 9,000 Point move just call it 9,000 Point move in one month so this was definitely our bottom and never broke that until um until it touched

Really here which again was the 22nd of January very shortlived right three four days and then it popped right back so if I wanted to right what I can do is I could sort of um draw out like this for example right something like that maybe

That would make sense okay but for now I’m just going to leave it now I’m not really focused on much here besides trying to understand where it could potentially go right and I think it would probably be best to go on the weekly here right when we look at where

Bitcoin is right we go all the way back it hasn’t been trading at these levels since you know the end of December of 21 so we get above 52,000 this little barrier resistance here as you can see I think it’s going to melt all the way up

Fast I mean we can get to 55 5 seven like very quick 60 will fall and then again pretty much when we’re there right if we Zoom all the way out like on the weekly like this is like alltime high right sometimes people don’t zoom out and realize like this is alltime high

Like we are not that far from you know getting there we’re are very close relative on the chart and I mean there’s a lot of empty space right has not trade in this range in quite some time so again going to be very interesting I think when it breaks it’s just going to

Absolutely melt then we look at the month right we could see the same thing look at how nasty this monthly chart is I mean if we clear this out for a second just so you could visually see it I mean look at how pretty that looks I mean

It’s really amazing look at the monthly so um the more we zoom out the more picture it starts to uh paint you know and and get a good understanding of where things are headed okay the big monthly candle of course here would be the close here at 61 uh 299 right this

Is like the big dog like we break that we’re going going to absolutely explode okay so one step at a time but again Bitcoin looks absolutely fantastic think 52 comes fast next would be probably 55 57 you know from there 60 61 it breaks that easily going to all-time highs and

Uh really starting to melt faces so really really pretty let’s move on from this though we talked a lot about Bitcoin here I want to talk about Tera wolf again very interesting the way that this one plays out um again just you know looking back uh to where it was um

And again showing you those levels right so I know a lot of people they roll their eyes and they say oh the Stock’s shorted it’s manipulated it’s all this stuff well yes but again let’s sort of focus on the things that we can control right we’re not going to be able to

Control the outside influences let’s just try and again gauge it so as I you know again same thing here right we want to establish a bottom in the top right that’s very important right here clearly is a bottom here clearly is a top and the reason why that’s that’s clear is

Because that fell 50% from this range right very fast right this was pretty much January took about maybe two and a half three weeks and the stock lost 50% of its market cap okay this was $4 right coming all the way down here to around

90 so $4 to 90 again you do the math that’s what 80% down 75 80% down so clearly these are again reversal points points of significance directional changes whatever you want to call them now as we go up all I’m going to do is I’m just going to observe times in which

The stock was weak or it struggled right and does it match with any of my Fibonacci retracements now I did find one point of resistance which was right at this $2 level now the reason why is we see this candle here right if I sort of draw it out like this these two

Candles very interesting right it touches this line nearly to the penny as we could see the high here is 199 let’s again show you where I’m looking at right up here here right the high here is 199 the line is 197 right and then it rejects all the way down closes 181 the

Next day it jumps up to 216 closes 198 which again was one penny off so both times throughout these two trading days uh the Bulls ripped the price all the way up and bears tried at the end of the day to smack it back down and again it

Gapped up made a higher high higher low and then again end of the day they try to rip it down and close it below two bucks now I don’t know if it’s a short Trigger or psychological value whatever it might be but $2 is definitely a level

That I like to follow okay now obviously it breaks out right there’s not like a massive massive amount of correlation here because pretty much the day after couple days after it surged all the way up another full point so we’ll just keep it sort of in the back of our heads now

Again right our next point of significance right of course uh could be somewhere um you know in this area where it struggled I would say that’s another area 220 you can look for definitely and then the top here being uh 321 318 right somewhere in that range 315 320 if you

Want to go by 5 cents that’s cool okay now we have to observe the same thing on the way down right as it’s starting to come down right hits a bottom pops tries to reverse again and go for that big attempt at the at the high of the run

And gets smacked right here okay so there right again 243 right in that level 245 is going to be a significant number now when we look here the high here is 246 off by 3 cents right and again closes like right at the low so

This was nasty I mean this was like you know pretty much 1 two 3 four five six seven you know pretty much a whole week’s worth of trading just boom gave it all back in one day okay and then again uh pretty much if we want to go

From there right we get rid of this Arrow next line um I would say right here is another higher low or temporary bottom so we have have again our chart low and then again this would be the higher low so we could do number two

Higher low too now um when we go back up right as we officially have our bottom we have to look back at one two uh three and then four right so here right what do we notice again looking at the high the high here was 202 the close was

188 so again very interesting very similar uh to what we saw in the passed here right where it didn’t want to close above but it Wicked above right so it rejected off that level the same way how it did at number one okay so interesting right how we see the rejection here and

Then that’s what we notice in the future okay now we move on right we look at number two right we really didn’t have any sort of turbulence at number two so we could pretty much get rid of that 220 resistance right we didn’t see anything

There now as we go all the way up what do we notice right number four oh same exact struggle right the high 246 the close 192 the high 248 the close 238 which again 5 cents off from our line and now we look at today right same

Thing pretty much using that $2 level that we just mentioned here that wasn’t super significant it’s closing below two so I would say for right now we look at ter wolf without over complicating things right I’m trying to make it very Bare Bones very simple and I’m overe explaining everything intentionally um I

Think the best thing to do is just go level by level so I find that you know this is definitely a point of significance and then this is so on the way up here right as long as we continue our Trend and we don’t you know break

This previous low and trade down there think we’re going to be in a good position the next level right is pretty much what we just saw here so this purple line is is my main focus and the next would be 321 okay but as you could see right it’s really interesting how in

The past right right it struggles here for a little bit and it struggles there and pulls back it struggles here and then again struggles there right these lines are not perfect they’re not going to be one to one they’re not going to be the exact Penny but they’re pretty darn

Close Okay so very interesting stuff here on Wolf obviously right we could zoom all the way out and see the big picture which again could be you know1 and $15 but pretty much going all the way back to you know may of 22 we haven’t traded above 450 5 so I’m not

Going to look at those ranges until they’re relevant as of right now the most relevant lines I think is going to be 240 250 range 3 318 320 and then pretty much the top here at four bucks so $4 let’s say 320 right and then again let’s call it 250 okay 250

324 is the next big checklist here for Wolf very short very simple and and we gave you the exact reason why and then again Riot right and again all we did was we just used the same exact principes as we did before with Riot right we saw it

Came all the way down right this was the accumulation phase after getting beat down here pretty much call this you know end of August September all the way to where it starts to make that move end of you know November December so you had about you know let’s say four or five

Months give or take to accumulate pretty much nothing above 1213 nothing below you know $ 859 and then again it goes up higher retest this demand Zone down here where we saw previously and again this was August September all the way to November and now pretty much goes you know January

February of this year so it’s definitely been a long range here retesting and then again boom it pops now the same principles apply with Riot as it would Mara Bitcoin or anything like that right the key levels to me are important right I like to look at the all time High

Daily close weekly close monthly close right and pretty much go from there now of this little sequence here going all the way back to pretty much uh January here the highest close that we saw was 1601 so we call it 16 here and again it’s interesting that the day before it closed

1592 right so very very close in terms of that previous daily high of the sequence and uh looking to break that the next of course would be probably like 1702 1778 and then the highest daily close of this entire uh playout here would be uh 1862 which is the top so

1862 um is the big break here what we really want to see then from there I’m sure it’ll start to Surge right of course if Bitcoin is moving it’s you know mid upper 50s or maybe even testing 60s in the next month or two um we’ll be

In a much different position but overall the sector looks great that’s why I did the video I know it’s probably really lengthy so again forgive me for the lengthy video if you’ve enjoyed this video please smash that like button click and subscribe and then also if you

Don’t mind sharing this video I would greatly appreciate it um we’re trying to give you more educational stuff like this and Technical breakdowns again if you enjoyed this video let me know in the comment section below share it with anyone that likes to trade we’re again focus on the crypto sector again guys

Have a fantastic day enjoy it and as always we’ll see you in the next one