Yolos

My September Bitcoin Prediction

BITFINEX:BTCUSD   Bitcoin / Dollar
239 3 2
BTC volatility will be low for a while. Price will range from 490 to 535 until September. Anticipation of GABI will bring some buying pressure and a bull trap in early September and perhaps the last few days of August. I predict the downtrend will continue and we will test high 400s in mid September, and the market will decide then whether or not we will break through the 400s and into the 300s, to continue the bear trend starting in July. I think we will see 300s in late September or October.
If your expectations ar true about the leg up to around 530 +/- than this wil mean that we'll break the neckline of the inverse H&S. This means that we will go up much much further than you're expecting after this breakout! If the trend follows your expectations we'll go up to at least (520-440= 80, 520+80 = 600) 600USD.

I expect that we're now making the last leg down to a very very low point @ around 350 or something. To make more momentum en than breakout really really heavy :)

I hope this helped you further!
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Yolos Maddie
I think your taking the head and shoulders technical formation a little to seriously if you think breaking 530 means we are bound for 600. I mean I can see how it looks like that h + s might be forming, given that my vague and very uncertain prediction (they are not always this uncertain) for a small bull run to 540. Also, considering the volume profile, I find that the rally from 460 to 535 had such high volume that it makes the h + s theoretical formation invalid. I think that there are other technical applications that are far stronger than an h + s that hasn't even formed yet, namely strong resistance levels at 555 and 580. If we break through those, then 600 is easily reachable. And I agree with you, the bear market is probably not over, and we may see lower lows yet.
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Im completely agree with your chart, we are going again to form something look like the one happened between june 11 to july 1. price is likely go a little up to 535-538 then decline to around 339. then it probably bounce back to 600 by december
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