Headed to 22,000 by August 10th.

Updated

I drew a few Gann Fans and the large dotted arc. It's been following the red dashed arc for months. I've re-drawn it to try to match the movements of BTC as it rises.

Then when it pulled back I drew more Gann Fans to track the downward movement. But it looks to be break out of that.

So...that leaves the rising Gann Fans and it looks like we'll hit $22,000 bitcoin by August 10. Will it really do that? We'll see. I'm getting better at interpreting Gann Fans and feel they are telling us a story.

Note

BTC following downward trending Gann Fan for now. Good chance it has bottomed. Hopefully, it will head up from here.

Note

Others are predicting lower. We may see that happen. So far it is trending higher. It is reaching my red dashed arc and bouncing off of it. Will we reach 22,000 by August 10? Doesn't look like it. But Bitcoin is a monster at times. It's still well above ~7200 which was the previous low. I am still bullish.

Note

Bitcoin is heading lower. We need to see it stay within one of the bullish channels of the Gann Fann. I think the lowest it SHOULD go is around 7700. That is at the bottom of my bullish Gann Fan I drew. That is right at the previous low (in the last post I said that the previous low was 7200. I misread the chart) So we are looking for a double bottom to propel bitcoin up.

Note

Bitcoin is staying above my arc (red dashed line). We need to see it rise above the 4/1 rising GANN fan. This would put us comfortably above 12,000

jgeneric

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.