The Bitcoin Megabull starts Mid October 2019 Towards $200,000
Updated
Hi everyone! Before we get started, take a second to hit the like and follow button to get updates on this chart!
Basically we have been following this fractal on and off with the members and its looking very likely to play out now. So I am sharing it with you all in case the last devastating part of it completes in the next 24 hours with a steep drop to $8,700-7,600 or lower (that would margin call all late longers). There is a low probability that we see a wick that would touches $6,900-6,400 to form this large orange symmetrical triangle that ends in Mid October 2019 after which we can expect a break out towards $16,000-16,400 or even see the Megabull potentially start early.
This would make perfect sense to play out after completing the current 3 Drive Pattern and the final parabolic move/blow off top to $13,880 that hit our Monthly forecasted top Bollinger Band at $13,400-14,400 (target that we published on twitter few days ago too - make sure to follow us there and follow the telegram channel).
Bottom line, we are in need of a pull back and 3-4 months consolidation after rallying non stop since the $3,000s towards $13,880. A retrace closer to the 50% Fib at $8,500 well within our buying area at $8,700-7,600 would make perfect sense.
The consolidation for 3-4 months in the large orange triangle would allow Ethereum to have it's bull run past $400-440 towards $690-740 and allow ALTCOINS to have their well needed bull runs from Mid-July towards end of September after which Bitcoin would take over once again and start rallying!
Stop: Consider this chart VOID if by Saturday/Sunday (next 72 hours), Bitcoin remains strongly above $10,000 then we would be looking at another more bullish scenario.
Basically we have been following this fractal on and off with the members and its looking very likely to play out now. So I am sharing it with you all in case the last devastating part of it completes in the next 24 hours with a steep drop to $8,700-7,600 or lower (that would margin call all late longers). There is a low probability that we see a wick that would touches $6,900-6,400 to form this large orange symmetrical triangle that ends in Mid October 2019 after which we can expect a break out towards $16,000-16,400 or even see the Megabull potentially start early.
This would make perfect sense to play out after completing the current 3 Drive Pattern and the final parabolic move/blow off top to $13,880 that hit our Monthly forecasted top Bollinger Band at $13,400-14,400 (target that we published on twitter few days ago too - make sure to follow us there and follow the telegram channel).
Bottom line, we are in need of a pull back and 3-4 months consolidation after rallying non stop since the $3,000s towards $13,880. A retrace closer to the 50% Fib at $8,500 well within our buying area at $8,700-7,600 would make perfect sense.
The consolidation for 3-4 months in the large orange triangle would allow Ethereum to have it's bull run past $400-440 towards $690-740 and allow ALTCOINS to have their well needed bull runs from Mid-July towards end of September after which Bitcoin would take over once again and start rallying!
Stop: Consider this chart VOID if by Saturday/Sunday (next 72 hours), Bitcoin remains strongly above $10,000 then we would be looking at another more bullish scenario.
Trade active
Note
The short-term chart to watch for the next 72 hours has been published here. Like and share!
Join my Crypto trading signals and community:
🤝 Free Community on Discord: discord.gg/hgHtyrZnKg
🔗 X: twitter.com/BitcoinGuruHQ
📽 YouTube: youtube.com/channel/UCLefQPP8cAuvyIZD0t0gtbg
🤝 Free Community on Discord: discord.gg/hgHtyrZnKg
🔗 X: twitter.com/BitcoinGuruHQ
📽 YouTube: youtube.com/channel/UCLefQPP8cAuvyIZD0t0gtbg
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.