Get started

Megabull

Doge Megabull targets $2-3 by November 2025 - Up to 3,000% gainsHi everyone! Today, lets dive in the technicals and boom and bust cycles of Dogecoin: Short-term: Doge will likely for the rest of the 2024 year remain in sideways and bound in the wide range delimited with the: Support block (green box) at: 0.056-0.036; and, Top resistance block (red box) at: 0.11-0.16c. In the incoming days / weeks, I am expecting doge to rally (a bit similar to the blue fractal as reference) towards the top resistance block (red box) at 0.11-0.16c which would be a great opportunity to take a little profit off the table there. There is a chance that doge retraces down from that resistance block to the 0.07c support block again which would be a great rebuy in 2024. I do not anticipate lower target unless there is a black swan even, but I do not expect any currently. Midterm: There are clear patterns that repeat across Crypto on altcoins which I always point to for those familiar with my charting and in this case doge is clearly displaying those bottoming bull reversal patterns although still unconfirmed: (1) Basing with a double bottom at 0.056-0.036c (2) Rounding bottom (half blue circle) Long-term: Dogecoin has still not broken the top resistance block (red box) at 0.11-0.16c and is still very far from breaking the previous ATH at 0.74c~. So buying know at 0.088c (see the WE ARE HERE arrow) is still considered an extremely cheap entry and you could still make a whopping 3,000% in gains if my 2025 forecast plays out as expected and we see Dogecoin top at either T1: $2 or at T2: $3 by October 2025 through December 2025. Looking further ahead at the next bear market of 2026-2027 and based on the repetitive boom and bust cycles of doge and crypto, we could expect the final bottom to shape a nice rounding bottom bull reversal and double bottom buying opportunity at 0.61-044c! Closing Notes: This multiyear Dogecoin chart is my attempt at forecasting the action of doge for the next 4 years and will be updated regularly. Please give a like and follow to this chart if you appreciate this chart and the work put behind it. Best of luck and happy trading! Carl M.
POLONIEX:DOGEUSDLong
by BitcoinGuru
4
Bitcoin Short-term Setup - $73,000 by March 30This short-term action reminds me of a trap in 2018 at the $6,000-7,300 range~, where we were in a giant rising wedge (similar to the one were in today). Expectations are that Bitcoin will move up from $68,300-69,000 support to $73,000 by March 30 then rug pull everyone prior to the Monthly close. The sell off would take us to $64,000-63,000 initially then $61,000-59,000 eventually to close the CME gap and liquidate the longs. Stoploss below the neckline/support of the rising wedge which is currently at 68.1K 🍻 Summary: Buy: $69,000-68,100 Sell: $73,000+ Buy: $64,000-63,000 and $61,000-59,000. Cheers! Carl M.
BITSTAMP:BTCUSDLong
by BitcoinGuru
1
Bitcoin bulls eyeing $69,000-73,000 by March 10, 2024This Gold Fractal overlayed on Bitcoin's multiyear cycles has been extremely helpful in forecasting more or less the price action of Bitcoin when coupled with liquidation levels and other valuable indicators and classic technical charts patterns. In my opinion, Bitcoin has bottomed at these levels (I highly doubt we ever see below the 1W Bollinger Band at $38,000 again), and I am expecting we see the bulls take us to $69,000-73,000 by March 10, 2024 which is a Siderograph Astro turn over date; thus the top on Bitcoin for this year. Don't forget to like and subscribe! I'll be publishing more ideas for altcoins. Carl M.
BITSTAMP:BTCUSDLong
by BitcoinGuru
4
Short-term: Bitcoin bulls eyeing $69,000-73,000 by March 10This chart is a zoomed in/short-term version of the below idea I published few days ago outlining the Gold Fractal overlayed on Bitcoin and the fact that I am expecting we see the bulls take us to the ATH at $69,000-73,000 by March 10, 2024 which will be an amazing area to take some solid profit at as I do not believe we go much higher than it (maybe max $80K if we overshoot). Don't forget to like and subscribe! I'll be publishing more ideas for altcoins. Carl M. Full publication to refer to:
BITSTAMP:BTCUSDLong
by BitcoinGuru
Ethereum bulls eyeing $17,000-19,000 by November 2025Hi all, This is a revised Ethereum ETHUSD chart with updated targets through the end of the Megabull which will end around October-November 2025: The blue fractal on chart is an approximate path which I have created to estimate roughly the Ethereum price action in 2024-2025. It is based on my analysis of previous cycles. Short-term Ethereum is exhibiting relative bullish strength (as indicated by the yellow arrow, similar to 2020) after reclaiming the resistance block (seen in red) as support. Similar to the previous two bottoming bull reversal patterns in 2016 and 2018-2020, Ethereum is completing both a: (1) double bottom at $1,100-$900 and (2) rounding bottom. Once Ethereum rallies towards the top resistance of the rounding bottom at $4,800 and successfully backtests it as support, we can expect the Megabull to be confirmed before the end of 2024 or early January-February 2025. Then by November 2025 expect Ethereum to rally and reach a Megabull ATH (All-Time-High) of either: $10,000-$12,000 or $17,000-19,000 give and take 1+- month margin error. This would represent a minimum gain of 1,000-1,300% increase from the all-time lows. Don't forget to like and subscribe, as I'll be publishing more ideas with targets for altcoins in the incoming weeks. Carl M.
COINBASE:ETHUSDLong
by BitcoinGuru
5
Cardano ADA targets $13 by November 2025 - Minimum 2,000% gainsHi everyone! In this publication, we will dive in the technicals and boom and bust cycles of Cardano or ADA : Short-term: ADA will likely hit $1.17-1.24 in March 2024 and pull back down to retest the previous top as support at 0.69-0.59c ~ which would be a great buying opportunity if it comes along. Reaching the ATH could be possible but currently is a low probability as the bulls are lagging a bit behind. It is likely that the test of the ATH would come much later in Q4 2024 or Q1 2025. Midterm: There are clear patterns that repeat across Crypto on altcoins which I always point to for those familiar with my charting and in this case ADA s clearly displaying those bottoming bull reversal patterns although still unconfirmed: (1) Basing with a double bottom at 0.262-0.219c (2) Rounding bottom (half blue circle) Long-term: ADA is still attempting to break the top resistance block (red box) at 0.60-45c and is still very far from breaking the previous ATH at $3.10 which may come much later in Q2 2024 as mentioned earlier. So buying know at 0.58c (see the WE ARE HERE arrow) is still considered an extremely cheap entry and you could still make at minimum 2,000% in gains if my 2025 Megabull forecast plays out as expected and we see ADA top at either T1: $13 or at T2: $20-23 by October-December 2025. Looking further ahead at the next bear market of 2026-2027 and based on the repetitive boom and bust cycles of ADA and crypto, we could expect the final bottom to shape a nice rounding bottom bull reversal and double bottom buying opportunity at $2.75-1.90 (more or less previous top holding as support and a good 83% drawdown from the T1 ATH). Closing Notes: This historical multiyear chart is my attempt at forecasting the action of Cardano for the next 4 years and will be updated regularly. Please give a like and follow to this chart if you appreciate this chart and the work put behind it. Best of luck and happy trading! Carl M.
BINANCE:ADAUSDLong
by BitcoinGuru
1
STX will hit $4-5 in 2024, and top at $40-50 by November 2025Hi everyone! Here is one of my biggest positions in my portfolio, STX, which I have been holding since early 2023 and staking it. Other big investors like Tim Draper are extremely excited about Stacks and Bitcoin L2s, so hit up that Like and Follow buttons and now lets dive in the technicals: Short-term and Mid-term, STACKS or STX is exhibiting relative bullish strength as it is completing two bottoming bull reversal patterns of the trend which if you have been following my analysis for the past 10 years on Tradingview and old or recent publications, is very common in Crypto and Altcoins to do: (1) Adam & Eve at 0.23-0.19c (2) Rounding bottom. STX has still not broken the previous ATH at $3.25 so buying know below $1.81 is still considered an early entry and you could still make a whopping 2,600% in gains if this trade plays out as expected and we top at/near $50 by October 2025 through December 2025. In the incoming days / weeks, I am expecting to see a strong rally (a bit similar to the blue fractal which represents the Gold cycles in the past 10 years~ for reference) towards the previous ATH resistance block at $3.25. I believe that thanks to the Bitcoin ETF recent approvals by the SEC, Crypto is now mainstream and that we should see enough momentum to break up higher and hit $4-5 as a fake out before we pull back down and consolidate between that resistance and the support block at $1.90-1.40~ for the rest of 2024. Looking further ahead at the next bear market of 2026-2027, we can expect the final bottom to shape a nice rounding bottom bull reversal and double bottom buying opportunity at $4-5. Best of luck and happy trading! Carl M.
Long
by BitcoinGuru
The Solana SOLUSD Road Towards the Megabull - Up to 2,000% GainsHi everyone! I have more ALTS charts about to get published in the next few weeks, so hit up that Like and Follow buttons to receive the latest notifications! Now lets dive in the technicals of Solana: Short-term and Mid-term, Solana is exhibiting relative bullish strength as it is completing two bottoming bull reversal patterns which if you have been following my analysis for the past 10 years on Tradingview and old or recent publication, is very common in Crypto and Altcoins to do: (1) Adam & Eve at $14-8 (2) Rounding bottom. Solana has still not broken the previous ATH at $275 so buying know at $109 is still considered an early entry and you could still make a whopping 2,000% in gains if this trade plays out as expected and we top at/near $2,000 by October 2025 through December 2025. In the incoming days / weeks, I am expecting to see a strong rally (a bit similar to the blue fractal which represents the Gold cycles in the past 10 years~ for reference) towards the previous ATH resistance block at $275. I believe that thanks to the Bitcoin ETF recent approvals by the SEC, Crypto is now mainstream and that we should see enough momentum to break up higher and hit $400-350 as a fake out before we pull back down and consolidate between that resistance and the support block at $150-100~ for the rest of the 2024 year. Looking further ahead at the next bear market of 2026-2027, we can expect the final bottom to shape a nice rounding bottom bull reversal and double bottom buying opportunity at $150-100! Best of luck and happy trading! Carl M.
BINANCE:SOLUSDLong
by BitcoinGuru
6
Stacks STXUSD to $40-50 by end of 2024Stacks NASDAQ:STX is exhibiting relative bullish strength after reclaiming the resistance block (seen in red) as support. Similar to 2020, currently it is completing two bullish reversal patterns of the trend such as a: (1) double bottom at 0.23-0.19c and (2) rounding bottom. Once NASDAQ:STX rallies towards the top resistance block of the rounding bottom at $2.65-3.25 and successfully backtests it as support, we can expect the Megabull to be confirmed, leading NASDAQ:STX to rally and reach a peak by the end of 2024 at either $10 or $40-50 . This would represent a generous 5,000 to 23,000% increase from the all-time lows should we reach $10 or $40-50 respectively. Tim Draper is backing Stacks among others in the industry, so I would not be surprised to see it deliver great gains in 2024. Don't forget to like and subscribe! I'll be publishing more ideas with targets for Bitcoin and altcoins in the incoming weeks. Carl M.
Long
by BitcoinGuru
3
Bitcoin Potential Falling Wedge Bull Reversal SetupHi All, Here is my backup bull plan in case my theory that we will see Bitcoin test 34-32Ks and eventually 21-17K by February 2022: If the bulls are successful at defending the 41-39.6K support successfully into next wee, look to buy the back test of the falling wedge's resistance as support at $45.6-44.2K should we confirm the break out by January 17-22. Note that if you are buying at $41-39.6K that we may see a wick down to $37-36Ks to run all the stops but as long as it quickly recuperates above 40K and closes the Weekly candle at or above that level then the bulls keep the control and may resume the Megabull or attempt to into 2022! Thanks, Carl M.
BITSTAMP:BTCUSD
by BitcoinGuru
The Weekly Overview of the Ethereum MegabullHi everyone! Please hit the like bottom at the bottom right corner and hit the follow button for more charts and updates. Here is an overview of the Weekly Ethereum ETHUSD Bear and Bull Cycles on the log scale in preparation for the Megabull which triggers officially once we blast off the $1,420 ATH (All Time High) in the next few days or weeks. The short-term target I see once we break the ATH is at $2,700-2,760 approximately which is the textbook target of the rounding bottom bull reversal pattern (see idea published yesterday): The log scaling is usually the best to use to clearly put an emphasis on the bull and bear cycles. Further more, log cycles coupled with the correct patterns and indicators can also help us outline accurately enough the cycle tops and bottoms to buy or sell at as I have labelled them for the current Megabull cycle. Currently you can notice that Ethereum has completed a long-term bull reversal of the entire bear trend thanks to the following bull reversal patterns: - Rounding bottom - Double bottom at $80-90 I have overlapped the previous Megabull's fractal so we can gauge and compare the current bull market against it time and price action. Their will be with certainty be differences between then and now but we are looking in the end to also spot the top of the Megabull near November-December 2021 to sell at near the top of the long-term bull parallel channel . For this Megabull cycle, I forecasted the final top of Ethereum to be a great sell/short opportunity at $28,000-31,500 around December 2021 - January 2022 Best of luck and happy trading! Carl M.
COINBASE:ETHUSDLong
by BitcoinGuru
4
Bitcoin to continue its Megabull towards $333K by February 2022Hey all! I have been extremely busy at the personal and business level but I found free time to update you all on my thoughts on what happens next for Bitcoin following the approval of the first US Bitcoin ETF! For those who have not subscribe yet to my chain simply hit that Like and Follow buttons to receive the latest notifications/updates. If you are wondering if you should purchase/buy/long BTCUSD here at $58-55K, I would say YES since it has retested the ATH and I have actually called the pull back from the ATH at $64-66K back to 57-55Ks a while back (my followers had that info a while back). I believe that you or anyone could still make roughly 400% gains if BTC goes from $62,000 to $333,333 by February 2022 based on my fractal. How could it be possible you ask? Well thanks to first US ETF being approved for trading, there is a lot of "smart" and "dumb money" flowing into the Crypto Market, more than any other Megabull run market we have seen in the past as the world embraces digital currencies through mass adoption. Anyways here is what I expect in the incoming weeks: 1. BTC to bottom at 58-55K and run to $85-87K by December 2021 2. By December 2021 BTC will have a sharp sell off for tax harvesting/loss down to retest previous top holding as support at $68-66K~ 3. BTC will bottom at $68-66K and will for the first time in history extends its Megabull past December into January-February 4. BTC will put a final Megabull top in February 2022 at $333,333 Looking distantly ahead at the next bear market of 2022-2024, we can expect the final bottom to be at $120,000-100,000 which would be our potential buy/long target then! The worst outcome would be a bottom at $81,000-75,000 but that's unlikely in my opinion. Best of luck and happy trading! Carl M. ---------- The timing accuracy on my earlier BTCUSD Megabull fractal is mind blowing here (click play) and were still on track!
BITSTAMP:BTCUSDLong
by BitcoinGuru
4
BTC Usdt Mega BullishIf I'm not mistaken in my predictions, the Mega Bull Season that everyone has been waiting for has arrived. I usually analyze before btc drops, but this time I think the situation is different. If I'm not wrong (I could be wrong), Gann Box and Fibonacci measurements, indicator data convinced me for this trend. Waiting for the Eliot waves to start. I think 3 waves can occur inside the Gann Box. The first four waves of the Elliott Wave can occur inside the box. But if wave 4 manages to break out of the box, it could trigger another wave of elliot 5 for the 100K target. Notice the area I marked in red though. If I'm wrong and prices drop below this level, it would be wise to stop loss. I don't expect this to happen. But it's still good to be careful. If I am not mistaken in my thinking and waves 1 and 2 occur, you should measure yourself again after the second wave. Your post wave 2 measurement will be more reliable than my analysis. I think there will be 2 waves of Elliott 5. So 1-2-3-4-5 ABC is 1-2-3-4-5 again and prices will start to decrease from here on. But despite everything, I would say pay attention to the stop zone again. NOTE: This is not investment advice.
Long
by CryptoBrainn
Bitcoin Weekly Bollinger Band Head Fake Bull Reversal SetupHey guys, This is a quick update in regards to the latest Bitcoin price action following my earlier Weekly update. For those who have not subscribe yet to my chain simply hit that Like and Follow buttons to receive the latest notifications/updates. Last week in an earlier update, I warned that closing below the 1W midband at 48.4K would send us much deeper to two important buy levels: 34-35Ks 31-29K or the Weekly bottom band These two levels were just hit in the past 6 hours from which Bitcoin bounced hard from to 41-42Ks! Now that we tagged the buy/long 31-29K bottom of the Weekly Bollinger Band, there is a possibility of seeing a large scale bull reversal through what John Bollinger calls a Bollinger Head Fake. What's a Bollinger Head Fake? A Bollinger Head Fake is a rapid reversal in price direction that most often occurs after a Squeeze, usually on high volume and at a Bollinger Band. As of now the Weekly Bands have started to squeeze and the bottom band has been tagged. The expectations in the next few weeks is to see a fast reversal of the price action back above the 1W midband at 48.8-49K towards either 55K or 63-64K (ATH) preferably before the Monthly candle closes on May 31st as shown using the 2017 blue fractal. Once fulfilled then I believe we can see Bitcoin grind up towards the ATH by August and have a last bull run towards 250K+ by Dec 2021 NOTE: Should the Bollinger Head fake fail to reverse the trend in the next 2 weeks and the Weekly Bollinger Bands Squeeze resolves to the downside with a sell off below 28K (or below the bottom bollinger band), then I expect a much longer Bear Market at hand which would test the previous top as support at 20Ks. Happy trading! Carl M.
BITSTAMP:BTCUSDLong
by BitcoinGuru
8
The Stellar XLMUSD Road Towards the Megabull - With 5,500% GainsHey all! Thank you for the amazing feedback and comments as I continue to publish more ALTSCOIN charts during my free time! For those who have not subscribe yet to my chain simply hit that Like and Follow buttons to receive the latest notifications/updates. Here is another highly demanded coin to chart: "Stellar Lumen" or XLM, lets have a quick look of the potential targets of this coin in this Bull Market or Megabull! If you are wondering if you should purchase/buy/long XLM here at $0.70c, I would say YES since it only gained roughly 1,500% since the 0.04c lows from the Bear Market which had a double bottom bull reversal back in 2019. I believe that you or anyone could still make roughly 2,500% to 5,500% gains if XLM goes from 0.70c to either $18-20 or $38-40 by year end which is possible based on my bull log parallel channel. How could it be possible you ask? Well there is a lot of "dumb money" flowing into the Crypto Market, more than any other Megabull run market we have seen in the past as the world embraces digital currencies through mass adoption. A simple look at DOGE that went from 0.0018 to 0.75c with a whopping 40,000% profit in few months is enough evidence that anything is possible in Crypto at this early stage of this bull run which has easily another 6 months~. Anyways here is what I expect in the incoming weeks, I would expect XLM to rally on the rumor of the consensus and XLM Network upgrade which would hit the top/sell 5-10% target of the bull log parallel channel first at $2 (a great short-term sell area) by May 24 - 31. After that expect few months of sideways in the bull log channel before it starts rallying again by August to $7 then by year end it will reach the first potential top of this bull market at $18-20 or my second final potential target of the Megabull at $38-40 on Nov-Dec 2021~. Summary of the Megabull / Bull Market Targets by Dec 2021 - Jan 2022: $7-8 $18-20 (2,500% gains from 0.70c) $138-40 (5,500% gains possible from 0.70c) Looking ahead at the next bear market of 2022-2024, we can expect the final bottom to shape a nice rounding bottom at 0.90-0.70c~ which would be our potential buy/long target then! Best of luck and happy trading! Carl M.
KRAKEN:XLMUSDLong
by BitcoinGuru
24
The ZCASH ZECUSD Road Towards the Megabull - Up to 3,000% GainsHi everyone! I have more ALTS charts about to get published in the next few days, so hit up that Like and Follow buttons to receive the latest notifications about what's new from my channel! Now lets dive in the technicals of ZCASH: Short-term, ZCASH has still not broken the previous ATH at $800~ so buying know at $308 is still considered an early entry and you still can make 3,000% in gains if this trade plays out as expected and we top close to $8,000-10,000 by Dec 2021 - Jan 2022. In the incoming weeks, I would expect to see a strong rally (blue fractal for reference) towards the top of the bull parallel channel at $500 and maybe even a break out past it towards the ATH resistance block near $700-800. If we see enough momentum then maybe we can pull up higher and hit $2,000-2,500 but that's to be seen. Meanwhile, the bottom neckline or support of the bull parallel channel should hold through 2021 until the top is in. Once that neckline breaks imo it is likely that the bear market has started. Looking further ahead at the next bear market of 2022-2024, we can expect the final bottom to shape a nice rounding bottom bull reversal and double bottom buying opportunity at $400-300~ ! Best of luck and happy trading! Carl M.
BITFINEX:ZECUSDLong
by BitcoinGuru
19
The Overview of the LINKUSD Megabull - Up to 2,500% GainsHey guys! Here is another highly demanded one, CHAINLINK LINKUSD! Please hit that Like and Follow buttons to receive the latest notifications about my updates. If you are wondering if you should purchase/buy/long LINK here at $47 after it gained close to 12,500% since the 0.37c lows which had a double bottom bull reversal back in 2019, then read on! It is not that risky just yet, and I believe you can still make roughly 2,500% if LINK goes from $47 to $1,000-1,250 by year end which is possible based on my bull log parallel channel. In the incoming weeks, I would expect LINK to go tag the top of the bull log parallel channel first at $100-120 (a great short-term sell area) by end of May - early June. After that expect few months of sideways in the channel before it starts rallying again by August to the first potential top of this bull market at $300-370 then by year end to the second final potential target of the Megabull at $1,000-1,250 on Nov-Dec 2021 or by Jan 2022. Summary of the Megabull / Bull Market Targets by Dec 2021 - Jan 2022: $300-370 $1,000-1,250 (2,500% gains possible) Looking ahead at the next bear market of 2022-2024, we can expect the final bottom to shape a nice rounding bottom at $30-20 which would be our potential buy/long target then! In case of a steeper sell off in the bear market I would like at $11-9. Best of luck and happy trading! Carl M.
Long
by BitcoinGuru
The DASH DASHUSD Road Towards the Megabull - Up to 5,000% GainsHey guys! I got couple of days of free time to continue publishing free long-term charts for ALTSCOINs, so hit that Like and Follow buttons to receive the latest notifications about my updates. Anyways, now lets get started! This simple comparison seeks to compare the Megabull of 2017 against the current 2021 Megabull as seen as a potential/approximate green path we may follow in this round towards the final ATH. The idea here is pretty straightforward, on the long-term log scale charts, any asset or stock will be bound most of the time within a parallel bull channel. Similarly, I believe the bottom of the bull parallel channel has been well defined through the years, hence the top of the channel should give us a good idea of the ATH targets. Short-term, DASH has still not broken the previous ATH at $1,600~ so buying know at $400 is still considered an early entry! In the incoming weeks, I would expect DASH to start defining a short-term bull parallel channel or ascending channel which will be the road to either the $10,000 first Megabull target or the second Megabull target at $18,000-20,000 around Nov-Dec 2021. Summary of the Megabull / Bull Market Targets by Oct-Dec 2021: $8,000-10,000 (2,500% gains possible) $18,000-20,000 (5,000% gains possible) Looking ahead at the next bear market, we can expect the final bottom to shape a nice rounding bottom at $1,200-1,900 on DASH! Bottom line, if you purchase DASH close to the $400 levels, you still can make between 2,500 to 5,000% in gains if this trade plays out as expected. Best of luck and happy trading! Carl M.
Long
by BitcoinGuru
3
Overview of the Bitcoin Megabull's Parallel Bull ChannelHi all, This long-term chart is building up on previous ones I shared on Tradingview before about Bitcoin being delimited between the top and bottom of the bull parallel channel on the log scale. So far if this was the bottom at $47.7-48K then the channel's bottom has held and we are ready to grind up and go into sideways to $54.5K-59Ks until May 4-5th before we start grinding up to $120K~ by June 5-6 which would hit the top of the bull channel at that time. I still think that Bitcoin will end up performing a dual bull run in 2021 with the first top somewhere near $120-140K top of my log-parallel channel (see charts) by June 6 -July 7 then a mini bear trend with a potential bottom at $75-65K followed by the last bull run with a top near $300-440K by Nov-Dec 2021. Here is a zoomed in linear short-term chart of this chart for reference: Megabull final ATH targets to sell at before the Bear Market starts: $120-140K - Sell 10% and withdraw to bank account $200-250K - Sell 20% and withdraw to bank account $300-440K - Sell 70% and withdraw to bank account Best of luck and happy trading! Carl M.
BITSTAMP:BTCUSDLong
by BitcoinGuru
4
Bitcoin Short-term Bullish as Long as $48.4K is not Tested AgainHey guys! Give this idea a like and follow me if you aren't yet. Now lets get started: So the "Uncle" Biden news came out of nowhere yesterday while I was out most of the day and that got many sellers panicking across all markets including the Bitcoin and Crypto markets. That said the likeliness of congress passing a doubling taxation from 20% and 39% is rather low in my opinion, I think everyone is over-reacting with many calling the start of the Bear Market on Bitcoin and a failed Megabull etc. etc. Anyways, here is what I am looking at short-term and long-term as well: - I had recommended to buy $52-51.3K bottom of the support channel and the higher low before the Biden tax proposal news came out so I told everyone to just HODL as the mild bearish scenario would take us towards the 1W Bollinger Band at $46-45K which would be a great buy/long (30% Correction). But so far it seems we stopped close enough to it at $47,700~ due to front running of buyers and the contract expiry on Bitcoin last night. So it was not really worth it so far to sell. The proper sell area was when I called the sell off short-term once $62K broke a while back. - On the Daily, the RSI has reached oversold levels of 30 which means that this is a good buy are to buy long-term Bitcoin at from here $50K down to the 1W bollinger midband at $46-45K. Historically, for those who followed me back to 2017, you know that I called every buy the dip level precisely on Bitcoin using the 1D RSI in oversold conditions, and right now I can tell you we are nearing a final bottom before we rally up. - Short-term to look for till Sunday: IF this is the bottom and we do not roll back in the next 24 hours to $48,400, then the bulls need to hit the 52-53k top of the falling wedge to get started. Then break out from the wedge to confirm a bull reversal and close the Weekly on Sunday close to 55K. Once that happens, ALTSBTC can rally hard as I had expected initially into end of May. So far ALTS like ETHUSD and LTCUSD have nicely held their bottom support or previous top holding as support levels and remain bullish. When would I turn bearish: I would turn bearish mid-term if sell off to $48,400 again, and we close a 3D or 1W candle below the 1W Bollinger Midband at $45K~ . So if there is a test of $42-40K it will need to be rebought fast, else it would mean we have bigger problems on our hands trend wise with a retest of 35-32K being likely which is the Elon and Michael Saylor mode/support buy level - This current idea ties well with my long-term call I shared before with everyone: - At last, the Megabull is NOT over, we are just in needed a 30%~ correction before we continue our dual bull run to 100K+ then 400K by year end. Best of luck and happy trading! Carl M.
BITSTAMP:BTCUSDLong
by BitcoinGuru
2