This is a zoomed in 1D chart of my previous Trading View chart of the Bitcoin Megabull Cycle but this one is based another of my studies on the fractal of 2012-2013. The previous rally to $790 was actually supposed to fail and I did not notice this until I studied the charts and history further.
The good news right now is that Bitcoin should bottom at $610 and stay above it for the megabull to resume thanks to an inverted bullish H&S t.co/OUFPFn6Oxn and an ascending triangle as seen on my charts and here . (please cut your losses if we go under $610 don't take any chances and rebuy at $585-590 even then the risk to the downside is high - ensure you use a tight stop loss)
Bitcoin will consolidate in the ascending triangle and on halving day blow up to retest $770-790 area. There it will consolidate through sideways between $790-700 or it could even do bigger swings in the ascending triangle just like at $400 until end of August/beginning September. I put an approximate date of August 25-28 for now and once we get closer I will be able to be more accurate with the breakout date. From there we will be able to continue our journey way higher as we head to the "moon". If we manage to hit $1000 Bitcoin could get higher due to increased media coverage and more interest / hype that will bring new money in to the market.
My conservative targets are: $1120, $2800 and $10,000 to $15,000 per Bitcoin The current fractal maximum potential target is: $10,000 - 15,000
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Hi all we've been waiting to see how the Bitcoin market recovers after the Bitfinex hack/dump to $470, it has been extremely slow (definitely not like the Silk Road seizure dump and megabull). So if another cycle was to occur it would be after November 2016 to March 2016.
good call on 635 retest.. that's what i call true professionalism.
BitcoinGuru
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your welcome! while we predicted $635 a while ago those fakeouts tend to wick lower especially on this halving sell the news dump, Best thing is to hold in time like this and not to get over emotional.
As long as $610 holds we believe Bitcoin will chop at the 635 level before moving up eventually in few days to $770-790
Good luck!
blackswan
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thanks for the quick response! please keep us updated! had a quick glance over your past trade setups and i'm impressed. kinda regret not having following you earlier... lol..
BitcoinGuru
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will definitely try to as long as im front of the screens ;)
rivet.popper
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Don't you mean Nov 2016 to March 2017?
BitcoinGuru
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yes correct Nov 2016 to March 2017 range for the megabull cycle
Techemist
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What do you think now that so much time since forecast has passed? Not much going on halving day + bitfinex put spanner in works. Still seeing mega-cycle mature?