Technical analysis by Elephantnipples about Symbol BTC: Buy recommendation (12/15/2022)

the halving always creates a supply shortage. Miners have less bitcoin to sell on the open market. also the narrative leading up to the halving tends to have great implications on the price of bitcoin. on this historical chart you can see the halvings on the bitcoin chart together with price changes and durations between the tops and bottoms and the halving. based on this chart it is likely that the bottom is in (21 november 2022) and if this is not the bottom the bottom is likely very close. the amount of days left until the halving from the bottom is less than historical. (excluding the very first cycle)together with the insanely bearish sentiment after the ftx collapse and the relatively small price drop following it (given the severity of this black swan event). it seems to be a good price to start scaling back into bitcoin and large caps (mostly eth)