Full Moon: Will Bitcoin Break Out During Today’s Celestial Event?

Tony "The Bull" Severino

5 years ago

3 mins read

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Bitcoin’s halving is less than one week away. The crypto asset is trading at the top of a multi-year chart formation. And tonight is the Full Flower Moon.

Is the stage set for a major halving-fueled Bitcoin breakout during tonight’s full moon?

Stars Align For Major Cryptocurrency Breakout

Bitcoin price is currently trading at over $9,300. The key level has acted as resistance throughout 2019 and 2020.

However, the cryptocurrency may finally have all the necessary ingredients for a break out soon.

The asset’s digitally-coded block reward reduction occurs on May 12.

This cuts the amount of Bitcoin released into circulation with each new block added to the blockchain, by 50%.

Miners will begin to receive just 6.25 BTC instead of 12.5 BTC, but the cost of production remains the same.

Much of the recent price action has been driven by crypto investors speculating that the halving would come with a dramatic influence over the asset’s valuation.

But the recent rally is also due to cryptocurrencies consolidating for two years of bear market, and are primed for a break out soon.

There’s also potentially a celestial reason for Bitcoin‘s bullishness, and it could result in a breakout tonight.

Will Tonight’s Full Flower Moon Cause Bitcoin to Spring to New Highs?

Tonight is a full moon. But this isn’t just any normal full moon, this is the Full Flower Moon.

According to Farmer’s Almanac, this moon got its name due to May bringing about new blossoms of life after a cold, hard, winter thaw.

Bitcoin and other altcoin assets are also coming out of a long crypto winter and hoping to see some green during the Spring months ahead.

Could this Full Flower Moon be the start?

Full moons are said to have a powerful influence over human emotion and behavior. It’s led to tons of lore, such as werewolves and other mysterious occurrences.

With Bitcoin and crypto being such speculative assets, the chance that moon cycles influence price charts is not far fetched.

In fact, full moons appear before most major Bitcoin impulses. In the chart above, the following major impulses have been accompanied by a full moon:

The September 2019 crash following the Bakkt launch.”
The October 2019 “China pump.”
The November 209 collapse to $6,000.
The December 2020 bottom.
January 2020’s initial rally.
The February 2020 push above $10,000 and subsequent top
Black Thursday in March 2020.

Zooming out further, full moons all market major moves in Bitcoin price charts, over the last several years.

It’s not just moon cycles, other astrological events are said to have an impact on financial markets. Some theories, such as the legendary W.D. Gann used key dates, lunar cycles, and more to predict tops and bottoms with uncanny success.

Will tonight’s Full Flower Moon cause Bitcoin to moon also?

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.