Predictive Analysis of the Next Megabull Cycle - Update 2
Updated
Hey all, I have been pretty busy lately and found the time to give you all an update! After visiting $445 we revisited the bottom of the triangle at $400-405 which strongly held as no sellers were to be found to take us to $320. Bears failed and Bulls won that last round. Which leads us to a big potential for the megabull cycle to occur on March 25-27th as we make our way to $435 (top of triangle).
Bulls:
After rearranging the fractal and aligning it properly with our current triangle we can see that were spot on the last pump within the triangle before we break out of the triangle. Initial top of triangle is $435 on Bitfinex and if all goes to plan we will blow past it to $450-448 then go back down to retest $426-421 before the megabull picks up steam and moons.
From there we have several potential targets but the fractal goes to $8100 per BTC which I find exaggerated.
My more conservative targets are: $680-700 and $900-850 and $1500 and $2500
Bears:
For now the bears do not have a case in my opinion as $400 held as support and we had no new lows. However, note that if March 27th passes (give it to March 31st max) and we fail to break the top of the triangle ($435) and reach $450, then it is highly likely that the megabull cycle failed again and bears will take over. If I see a change I will first post on my twitter account and then follow up with a new chart when I have time on TV.
I am here to help. Feel free to ask me questions or Private Message me directly.
Also follow me on Twitter: crd.ht/3H1yamr
Where can I register and buy/sell/trade Bitcoin?
Bitfinex Signup: bitfinex.com/?refcode=355QQTAC0A (Accepts Worldwide users)
Okcoin Signup: okcoin.com/?invid=2024136 (Accepts Worldwide users except US residents)
SimpleFX Signup: simplefx.com/?sfx-r=bae43264-800c-4429-8287-05463c043814 (Accepts Worldwide users)
Coinbase Signup: coinbase.com/join/52991e5e702d08b8bc000153 (Accepts US Residents Only)
BitMEX Signup: bitmex.com/register/T7LaSL
You can support me by joining under my referral any of the above Bitcoin exchange. If you join Bitfinex under my referral you will get %10 discount on your trading fees the first month!
Bulls:
After rearranging the fractal and aligning it properly with our current triangle we can see that were spot on the last pump within the triangle before we break out of the triangle. Initial top of triangle is $435 on Bitfinex and if all goes to plan we will blow past it to $450-448 then go back down to retest $426-421 before the megabull picks up steam and moons.
From there we have several potential targets but the fractal goes to $8100 per BTC which I find exaggerated.
My more conservative targets are: $680-700 and $900-850 and $1500 and $2500
Bears:
For now the bears do not have a case in my opinion as $400 held as support and we had no new lows. However, note that if March 27th passes (give it to March 31st max) and we fail to break the top of the triangle ($435) and reach $450, then it is highly likely that the megabull cycle failed again and bears will take over. If I see a change I will first post on my twitter account and then follow up with a new chart when I have time on TV.
I am here to help. Feel free to ask me questions or Private Message me directly.
Also follow me on Twitter: crd.ht/3H1yamr
Where can I register and buy/sell/trade Bitcoin?
Bitfinex Signup: bitfinex.com/?refcode=355QQTAC0A (Accepts Worldwide users)
Okcoin Signup: okcoin.com/?invid=2024136 (Accepts Worldwide users except US residents)
SimpleFX Signup: simplefx.com/?sfx-r=bae43264-800c-4429-8287-05463c043814 (Accepts Worldwide users)
Coinbase Signup: coinbase.com/join/52991e5e702d08b8bc000153 (Accepts US Residents Only)
BitMEX Signup: bitmex.com/register/T7LaSL
You can support me by joining under my referral any of the above Bitcoin exchange. If you join Bitfinex under my referral you will get %10 discount on your trading fees the first month!
Trade active
One of my most accurate Bitcoin prediction so far, we just had a breakout today on March 27. The megabull is ON! (see graph comments above for more info on what's next after this breakout)Note
Bull weakness showing up in the very important date timeframe from March 27th to March 31st which I spoke about earlier, notice how instead of curling up like in the old fractal were curving down again as we did back in January where after my vertical red line, we curved down and dropped $100. Comparing both attempt, they are very similar as we had back in January 2016 attempt several bulltraps where the Market Maker loaded shorts before dropping $100 down to $350.If by March 31st we keep curving down and doing bull traps, bears will drop this down to $327-320 if not lower. Unfortunately bulls are running out of time. Please be careful using leverage right now is not a good time unless your long from $350-380 still.
Best strategy right now is to wait and see if we are able to go above $430 by March 31st before taking any position at this point.
Note
Bitcoin back above the $415 resistance after settlement night on Thursday March 31st passed without any bear insight on all exchanges. I am happy to say that the most bearish scenario (dump of $320) is now out of the picture.I see only two bullish scenario possible at this moment:
(A) We complete the big yellow triangle in April and Bitcoin does not take any direction by staying in sideways or congestion above $400 until May 2016
(B) The Megabull will still occur but delayed: But Bitcoin needs additional accumulation/consolidate time outside the initial 36 days consolidate range as this triangle is way bigger than the 2010-2013 mini triangles.
Note
If you follow me on twitter as well i tweeted few hours ago about the potential mini break out we just saw o 2750cny or $424. The call was spot on and I even stated that Bitcoin will pump and most likely ETH will be heading down and I see ETH starting a bear market while Bitcoin slowly curls up for a breakout towards $450 and then the megabull.
So we are indeed seeing scenario B which is a delayed megabull that should get to $450 within the next 2 weeks. It will be boring as a crawl up but we will get there once the fomo sets in and all the bears convert to bulls!
I will publish a new updated chart soon. Happy and safe trading :)
Trade closed: stop reached
Megabull cancelled guys.Triangle broke down to the downside.
Please be patient and do not try to buy the dip for now until the bigger picture develops
Next targets 375, 320-315, 26-275
Note
you got to love the manipulation seeing the Market Maker dump all the cryptos / ALTS last night (fortunately i do not trade or hold any of them). Where did all the alts profits go? Well evidently all the profits made by those pumps n dumps were cashed directly to Bitcoin as we had a full retrace to 2730cny from that dump that reached first line of support at 2650cny (on Friday April 8th).This move from ATLS to BTC marks the preparation of the big Bitcoin move. I am expecting this move this week of April 11. I will leave it to the below 2 charts for bull and bear scenarios for now- happy trading:
Note
Megabull confirms after we break 2800cny or $435Note
Trade active
Confirmed breakout out of the big triangle!Trade active
Note
new chart incoming soon!Note
New Chart available:Note
Note
New Chart Published:
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.