Long

On the Verge of the Biggest 5 Months Bitcoin Megabull EVER

Updated

Hi all, this is BTCEliX!l If you have been following my updates on my Bitcoin Live Trading Alerts Subscription, Twitter or Tradingview you would have known that I warned that the Bitcoin Megabull cycle could potentially start earlier then we expected in July 2017. AND IT DID! All the exchanges Coinbase, Bitstamp, Bitfinex, BTC-E, Kraken made new all time highs again breaking past $1350. Coinbase is currently at $1423. This is just the beginning of one of the potentially biggest Bitcoin Megabull Cycle (or bubble) ever in history of Bitcoin that could progressively keep rallying through the next 5 months (May, June, July, August, September)!

The reason is pretty simple, the fundamentals are that Bitcoin after the halving has been too cheap at current prices and has been kept as such low prices way longer than it should have thanks to a series of unfortunate events such as the:

PBOC crackdown/regulations
Bitcoin Unlimited scam by Roger Ver and Bitman/Jihan and John McAfee (ASICBoost, poor and unsecure coding) - please NEVER listen to them and always side with Bitcoin Core OR the majority of the community. A strong and UNITED Bitcoin community is what we should always side with. Were strong as ONE. Do not side with individuals which seek to divide and destroy what took 8 years to build from the ground up since Satoshi's inception)
51% miner attack
Bitcoin ETF
and the latest which puts a cherry on top of the cake was Bitmain or Jihan's ANTBLEED remote exploit on all the miners.

Back to this simple analysis, it is very important to know that it is based on the old 235 Days Bitcoin Megabull Cycles which is a recurring pattern still active until proven NULL. Based on this cycle shown as a blue fractal on the chart, Bitcoin will reach the final "ATH" (All Time High) on October 9, 2017. Hence, prior to that date make sure you sell your Bitcoins and close your longs.

Your stop loss at ANYTIME must be under the yellow dotted line which represents the longterm bull neckline. If this neckline breaks for any reason(bad news e.g.) during the bullrun take profit without any regrets.

The Potential "ATH" Targets for the megabull are not presented on this chart as I recommend to just stay in Bitcoin until October 9 or until the neckline is broken with volume. The fractal stops earlier than October 9, the reason is because their has never been a megabull bitcoin bubble that lasted more than 3-4 months. This if it plays out, could be the first 5 months Bitcoin Megabull cycle to ever happen.

The final "ATH" target on October 9 2017 depends on how steep (slope) the uptrend is**
** I will re-evaluate the chart close to September for the megabull and provide an update on a possible final target.

If you'd like to subscribe to my Bitcoin or Cryptocurrency Live Trading Alerts or my unique 1-on-1 Cryptocurrency/Bitcoin Mentorship and Coaching courses on my TA methods PM me directly for more information.

Check out my profile for my social media links and the website as all the free trading material and information are located there.

Trade active

We got few more daily candles, repositioning the Bitcoin megabull blue fractal shows were spot on here so far:

Note

Just a quick remark, we've pretty much decoupled today above the blue megabull reference fractal from 2013. We could go parabolic from here as long as no bad news or FUD comes and stops the bullrun like the last few times.

The blue fractal was provided for reference, and I do not expect Bitcoin to follow it on the longterm as its a 4 months fractal vs our current trend which is a 5 months megabull.

Pretty much remember we are interested in two things in this active trade:
1. Selling several days before the 235D top on October 9 at whatever price Bitcoin will be
2. Stoploss: below the yellow dotted neckline

Note

Re-positioned the megabull fractal to offset some noise also notice we have a steeper slope than the old 2013 fractal. Yet the pattern remains closely the same.

The green boxes represent my own indicator BGC Cycles, we've just started a new cycle after hitting $1900 USD on Bitfinex. If we disregard the fractal, the indicator needs another 2 days of data to confirm if it is bullish, bearish, or a consolidation range.

FYI keep an eye on Monday May 15th as the SEC has opened the door to FURTHER comment (no decision - just comments or additional documents to be added to the appeal from weeks ago). I do not expect this to affect the Bitcoin price at all.

Bitfinex is still experiencing USD withdrawals issues and are still attempting to find another bank to do business with. In the meantime they will be allowing a one-time USD withdrawal feature per account which is good news.

Poloniex is the next gox. The alts Market Makers and many traders are stuck there on an exchange that has been unresponsive and bugged for days. Most alts have stayed flat for days since the DDOS attacks on polo. Rumors is that the ETH developers themselves have ETH stuck there and support has not answered new tickets for 3 weeks +. My take is careful in investing in ALTs at the current time, it is pretty risky.

Note

1. Megabull fractal on track, sideways for few more days before we move to new highs.

2. Big move brewing seen by the 1H 2H 4H 6H 12H 1D Bollinger Bands squeezing tight. Trade the break out or break down.

3. IMO lots of bears calling a retrace will be eating their words this time, unless Bitcoin megabull history/cycles stop repeating.

Note

Squeeze breaking up as we speak. Fractal on track, BGC Cycles bullish, new highs ahead in the next few days.

Probably my last update for several months on this chart till we get close to the top. If you need Bitcoin or crypto trading alerts PM me for more information. I also offer a Bitcoin / Cryptocurrency mentorship and coaching program/courses. Just ask. Good luck and see you all at the top!

Note

Breaking Megabullish News - Bitcoin scaling meeting 05/21/2017 with miners, companies worldwide and Barry Silbert reached a scaling agreement based on the majority of users wanting Segwit.

Here is the unofficial summary:
1. Segwit is getting activated asap
2. 2MB Hard-Fork to follow sometime in September 2017

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I am seeing ridiculous charts out there calling $1200 and even lower targets such as $700 or $300 which I respectfully disagree with. So I decided to give this quick update on the house.

We are still very bullish within an ascending triangle and currently were completing an IH&S visible on Bitstamp or Coinbase 30-15min chart. All you need is hold as Bitcoin will need to consolidate till June 15 before it breaks out. Of course keep a stop loss under $1750-1780 Bitfinex in case things go south.

If you want more up to date Bitcoin live trading alerts PM me for more information.

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The Bollinger bands are ready and squeezing tight for the big move on the 1H 2H 4H 6H 12H 1D TF: Are you guys ready?

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The move to $4200-4000 on Bitstamp will be very quick followed my a sharp drop to $2800. To get all these alerts in advance, PM for info on my Bitcoin Trading Alert Group and Trading Program!

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Instead of breaking up, Bitcoin pulled a typical Megabull cycle trick by retracing down to the 1D Bollinger Midband at $2500-2430 to shake out weak hands and current holders. This delays our break out to $4200-4000 area by more than a week unfortunately.

Based on my Bitcoin Guru Cycle method, Bitcoin remains in bullish consolidation pattern until June 21 then a new Guru cycle begins. As long as we consolidate above $2500 (preferably $2600, the new cycle will be a bullish cycle and we should be able to break out to a new ATH by June 15-18 preferably.

Any weakness under $2500 and a 1D closure under that level means that the megabull ended pre-maturely and hence take full profit on your longs and Bitcoin longterm stash (same applies for any ALTCOINS you may have).

Note

After breaking below the 1D midband at $2500 and washing down to $2000-2100 support, Bitcoin is currently attempting to put in a bottom and resume the megabull while the 1D Bollinger squeeze tightens. We expect the bigger move to happen as we get closer to June 21 which ends the Guru Cycle and starts a new one.

For more in depth alerts, please follow me on twitter or PM me for Trading Alerts information/pricing.

Note

Following with some updates here. We managed to put a bottom after breaking out of the falling wedge (signaling a bullish trend reversal) and also we just confirmed a I H&S (confirmation #2 of the bullish trend reversal).

All timeframes are bullish on the momentum indicator and 1D turning back up.
4H 6H 12H 1D Bollinger Bands squeezing very tight on all these TFs indicating the big upside move is imminent.
My Guru Cycle indicator also is very close to confirming the start of a new Bullish cycle after June 21st.

Once we break out past $3000 the next target is still $4100-4000

Note

Warning: There are signs of a Megabull top currently in the making with Bitcoin which confirms once we break $2300 on Bitstamp with volume (although we have both bullish and bearish conflicting signals):

1. With failing to make a new ATH through June 21-25 (Bitcoin Guru cycle is currently in sideways or bearish with signs of unconfirmed reversal)

2. and a huge bearish H&S that I have been warning about for few weeks starting to show its weight.

3. The other bearish issue currently stands on the fact that based on the history of the Bitcoin megabull, we have never spent so many weeks at the same levels $3000-2000 without making a new ATH.

4. The 4H 6H 12H 1D Bollinger bands squeeze released to the downside instead of the expect upside to our target of $4100-4000. Unless were able to reverse here within the next 3 days and break past several strong resistances such as: $2610, $2680, $2777, there is a big chance that we get a big wash out to $1850-1950 levels and a much deeper retrace to $1677 area (coincides with Fib retracement as well)

5. Major scaling concensus has been reached for the NY Agreement Segwit + 2MB HF. This brings a lot of uncertainty currenty to the Bitcoin market.

In the group we started taking profit after $2700 broke down through 2500s. I advise holding your profit in fiat until were able to break the descending triangle were currently drawing. Once we break back up by all means by back.

Note

Note: There is still a chance that we do manage to hold above $2300 then we could stay in sideways in the big bullish ascending triangle were currently in that ends roughly around the same day Segwit gets activated on the Bitcoin blockchain which is August 1st. Keep an eye on this as well.

Note

As per our twitter updates (follow us there if you have missed on these), $2370 support of the ascending triangle held strong and we confirmed a break out past the bearish triangle.

The megabull is still currently alive as long as the ascending triangle holds up and breaks up in the end above $3000.

Currently, we have to get out of the below bearish fractal from the 2013 ATH. The next top is at $2780-2700 Bitstamp. If we manage to break past that resistance. We can then retest $3000 resistance around August 1st (Segwit activation).

Trade closed: stop reached

Megabull has ended finally by breaking out the yellow dotted neckline on the main chart at $2490. In case anything changes I will publish a new chart on trading view.

Currently were looking for a small bear market to start in conjunction with Segwit Activation on August 1st. Next supports to look for on Bitstamp:

$2300
$1950-1850 (most likely the bottom)
$1777-1627 (with panic and high volatility)

Note

Correction: Breaking down the yellow dotted neckline**

Trade closed: stop reached

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New bear chart will be published, here is the draft published on twitter yesterday

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New Bitcoin tradingview chart published! Check it out now, like/agree, disagree and feel free to comment :)

Bitcoin Bullish Reversal with IH&S as Segwit Activations Loom

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Press play on the main chart, what a majestic Bitcoin megabull run so far! It is not over yet. I hope your all making a killing :) Don't forget to visit my website and Facebook page and give a 5/5 review please!

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New update published on tradingview as we near our target of $10,000 expected a year ago.

The Bitcoin Megabull Nearing our $10,000 USD Target

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Bitcoin hits $10,000 on all exchanges

What a time to be alive, congratulations to everyone who believed with me in $10,000 and beyond since I have plotted that forecast more than a year ago!

Time to take off some well deserved profit off the table anytime or on my recommended area near the top Fibonacci level at $12,500-11,500

Note

Bitcoin still continuing its parabolic move. Time to continue the parabolic move to $30,000

BitcoinGuru

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