With the recent news that Binance will restrict USA clients from trading on their platform I expect to see a pretty decent wave of capitol flowing from ICOs/Dap/anything not already traded on US regulated crypto exchanges, to those that are.
Bitcoin should benefit the most, exactly the type of catalyst you would expect to kick off the next major bull cycle.
I have something similar although the fractal I pulled is from the $15 low so in accordance my analysis we will break over that channel you have. Let's go bulls! -
faboose
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@animatroniksFTC, Love the look of your chart, great work!
MoonRally
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@animatroniksFTC, nice work and I like how you predict a lot more consolidation before we make the next wave. This time could be different though
Jocoin
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After 7800 bullish hidden div spotted perfectly on 1,2d chart 2 weeks ago now its time for classic bearish div on daily confirming rally pause at 12/12500 area in a matter of few days
but at same time this is going to be a healthy correction not a crash like everyone calling and the bullish trend will resume in only one condition which is not breaking 10600/11000 area must stand for reversal by all means. I hope this helps.
faboose
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@Jocoin, I like this analysis. I think We could get down to mid 8,000's for an ultimate bear trap. I would say to people if they feel pressure here, they should take some off and redeploy at a later date. Or just simply enjoy the profits/covering your entry cost and let the position run :)
GL~
Jocoin
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@faboose, Thank you, for sure you right and its very wise to take profit whenever feel under pressure but i really believe if 11400/10800 broken with daily close this bull run will end
Here is my last view after which we got dump
Here is my take, the point of parabolic run(s) is to make people short sighted and trap them with fomo (does not sound as if you're trapped which is great!). We have a ton of room on the longer trend to pull back and still be extremely bullish. See here:
This is also why I advise people who want to be involved with Bitcoin to average in to their position. Trying to get the top & bottom of moves is extremely difficult with the current market cap. Once we're over a trillion the volatility will be much less.
Cheers :)
Cephii
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how are you feeling about your prediction as of today, repost the chart with updates? im concerned we are rising too quick to sustain to your target here, but we could consolidate through august which would work.
faboose
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@Cephii, Bitcoin pausing in an expected area. Nice area to consolidate and we have room for a dip down to about mid 8,000's before next leg up.