Following my recent series of short-term predictions such as the one below, I have come up with an interesting pattern, which if it plays out can push Bitcoin to $12350:
As seen on the chart, the current price action (since the rise that started on July 24) is identical (on a smaller scale) to the sequence from late April to late May.
I have clearly pinned each move and right now BTC is on the (F) leg. A push to the (G) will take the price to $12350. Notice how even the LMACD is fairly similar.
Do you think this move can be repeated? Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
======================================================================================= = = = Shout-out to TradingShot's top TradingView Coin donor this week ==> @cryptosworldunited = = = =======================================================================================
I've noticed it too... Price then consolidated between 9-10K and had higher volatility at the beginning... Then it stabilized and popped up onto 11-12K channel... And we totally could be repeating short-term history, I don't see why not. 10K and 12K are rounded numbers conforming psychological (real) resistances. Can we jump onto 13-14K? Seems likely to me. It might be key that we break upwards 12,100 before August 21th, because of the triangle formation. In which case I would think it's a confirmed move to 13-14K zone. What do you think?
TradingShot
⋅
@Juanjo_LP, Well said and especially the point on being psychological resistance levels. I totally agree with the 13-14k zone.
suitableRhino56957
⋅
@Juanjo_LP, Fully agree about the triangle formation
Gaengphed
⋅
@Juanjo_LP, I say $14.600 , let's see where we are end of month, 1st week Sep. ;-)
Abmoon
⋅
It is really interesting what did you notice, good job!! ;)
Yes I do for the simple fact that the upper BB right now is at app. 12,527... it's next big push up will take it to that upper band, and unless it goes up all in one shot the upper BB will be even higher by time it gets there. The whole setup right now looks very bullish to me. I think we're going to see a bit more consolidation for maybe a week or so within the range we've been in fr a few days and then another push up higher.
TradingShot
⋅
@cosmicnexus, Spot on again with your BB bands my friend!
x484f444c
⋅
Well spotted! Will be very interesting to see if it does. Either way, 12.3k is inevitable at some point...
TradingShot
⋅
@x484f444c, Indeed it will be interesting to see if it plays out. BTC more often than not repeats previous sequences even on the short -term (we all know the long-term cycles are identical).