#BITCOIN update +235% target $53915 by Feb 20th 2018

COINBASE:BTCUSD   Bitcoin / Dollar
Update on Bitcoin             projection after the current drop off. The last week or so we've seen an inverted C&H formation lead to the crash to the lowest lows we've seen in a while.

However, if you look at the chart, you see that Bitcoin             was bullish with a bullish flag forming, but that bullish flag changed into a bullish pennant . This is a large bullish pennant and requires looking at the daily chart to really see it. The bullish pennant tells us there is a high likelihood we'll see another large rally, equal in size to the last one.

The two light blue curves show the last small rally and the likely recurrence of that rally which will send us out the top of the bullish pennant to begin our new rally.

The rally should rise +235% which is equal in size (percentage) of the last rally we had starting on Nov 11th and ending on Dec 16th (34 days total).

You see that I draw a date and price range square with the total 34 days in the future and +235% in height. This gives us a projected dollar amount of $53915 as our target.

Keep in mind, that my targets are often off +/- a few days, sometimes a week or so. And the height of my targets come close, but do not always hit the top of the projections, so if you want to set some more closely estimated targets, I'd set them at 10-20% lower than my projections:

My projection for new All Time High ( ATH             ): $53915
-10% target for ATH: $48500
-20% target for ATH: $43100

For a stop loss, I'd put the stop around: $12700 (bottom of the ichimoku support cloud, see red dashed line for stop loss position)

After reaching our new ATH             at $53,915, we will likely fall quickly back to the 61% Fibonacci retracement line or about $31000
Comment: I will also go out on the ledge and suggest that by Feb 20th, Bitcoin should have a market cap of nearly $1 Trillion dollars.
Comment: By the way, check out our upcoming ICO for Horizon Communications:
Comment: Ichimoku cloud 1h, entering the side, coming out the top.. wait for it.

Comment: Above we see that the 4H ichimoku cloud will form. We'll enter the side and break otu the top, which will give us a red ichimoku support cloud. From there, we'll rise along side it, bounce off the shoulder at the top right and be propelled upward.

See notes in chart.. resistance of the Bitcoin is futile.

"We are the . Lower your shields and surrender your ships. We will add your biological and technological distinctiveness to our own. Your culture will adapt to service us. Resistance is futile."

You can't kill the Bitcoin.
Comment: I dunno.. didn't I just call this above on the 1H version?
Comment: 15m bullish pennant and up we will continue...
Comment: My imaginary flag and the real flag happened right around the same level. Imaginary was orange, real is black. Then we continue upward after flagging with the bullish flag.

Comment: Flag complete, next leg up. Very small ichimoku resistance cloud will allow us to break through giving us the TS/KS crossing which will lead to further upward movement.
Comment: Today I've ran into a few charts here and there and I keep seeing the same thing. It appears that we're creating a cup and this will either break out of the cup and rise, or will form a handle for the cup & handle formation.

Could buy now, or wait until cup is confirmed.

Comment: Bears are really trying to bleed us! Hint hint.. I've moved everything to NEO since it's up 10,000% since April and 400% in the last 36 days. I'm sick of bleeding. NEO will save us from the Matrix.

Comment: Broke below the triangle.. Down she goes!

The dead bull will bounce.. and bounce hard to $50k!
Comment: Everyone please remember this.. especially if you are new to trading.

Please see this.. it is just as accurate today as it was in 2013.
Comment: Updates!

The large triangle was broken downward. What does this mean? It means, our triangle is now a large yellow bullish flag, confirming my earlier target of $53,000.

I've updated the drawing to show the bullish flag in yellow. Triangle is still there, but faded away into the background. I've changed the angle of the green curve slightly, but nothing else has changed. We are ON TARGET!

Comment: I want you all to keep this in mind:

If you move, you'll take losses. Everything has been down the last couple weeks, almost everything. NEO and a couple others may be the only coins that are making it through this drop. But you have to hold on if you want to see profits. Yeah it's great to see 10-20% per day or 200-300% per day and even 1000% in a week, but it is not the norm! We've been lucky to experience these huge increases in the past weeks and I think we will continue to be lucky, even after the losses.

A lot of people have lost a lot of money. I'm personally down over 50% of my entire portfolio and I was only able to save some of it today by moving to Neo (but I'm still holding positions in many different coins and holding them where they are, not selling.).

Selling will only lead to more panic and bigger sell offs. Don't give in to the panic, to the FUD.

Remember, don't invest anything more than you can afford to lose! And don't forget that if you are up a lot, you have a lot of FREE money that you entered into the market knowing you could lose anyway. Do not get emotional and upset about the losses (believe me, I've been feeling it the last 2-3 weeks myself). But I have been through this before and I can tell you that if you are strong, you make good decisions, you do your analysis and your own research while also looking to these charts and others (please compare my charts to others out there), you will come out ahead.

Let me tell you a story. I bought $10 worth of Bitcoin at the price of $660 in 2013. I bought one of these for each of my family members and I gave that Bitcoin to them on Christmas 2013. They have not touched their money in 4 years. This year, they had a balance of over $250 each. They simply forgot about their investment for a period of 4 years and they came out wildly ahead. The HODL is a real term, it's a real way to grow your investment. If you bought IBM stock 30 years ago and simply held it in the same way, you'd have a pretty nice nest egg.

Trading is a different story. It's higher risk and higher reward. If you are going to be trading, you have to understand that most traders, 90% of them, will lose ALL of their money during their first few years of learning how to trade. I lost nearly all of my investments before I came to understand the markets as I do. I still do not consider myself an expert, even though I've been trading since 2013.

Be careful. But remember, if you don't take the risk, you'll never get the reward. Don't risk more than you can afford to lose.
Comment: Bitcoin must gain 28% within the next 48 hours in order to break above the 4h ichimoku resistance cloud.

However, if that happens, it just so happens that the 1D ichimoku resistance cloud has the same breakout point, meaning that we break the 4h, we also break the 1D and we will likely end up in a very strong rally.

Only if we can break above that 4h ichimoku cloud though.

Comment: We actually have up to a full 7-8 days to break above the 1D Ichimoku resistance cloud. If we can at least break into the cloud, then over the next week we can inch our way up until we break out the top and rally to get back on track.

Don't count my charts out yet! It may happen!

Comment: So, we suffered some consolidation..

If we look at this consolidation and look back at prior rallies, keeping in mind that consolidation usually only drops back to the 61% fib retracement line, then we have 1 rally that started in Aug 2017 which ended at our All Time High and this matches the current 61% fib retracement level.

Keep in mind, the current retracement is a bullish signal, a bullish flag and if that's the case, the next rally can be larger than I estimated (measure gains from Aug until ATH for next major rally).

However, we may not be done with the bleeding yet. If we continue this retracement tomorrow or the next day, we may hit as low as $8300, which would be the 61% fib retracement since the rallies that began in April and went to our ATH.

So what I'm saying is, it would actually be really good if Bitcoin values drop to $8300, because that extends the flagpole on the bullish flag from $1100 to $20,000, meaning that our next major rally could easily gain $19,000 after consolidation. Top of the flag (break above point) is around $14,000, so if we add another $19,000 to that figure, our next target would be $33k

That $33k target is not the end, because we're simply adding numbers not percentages to the rally.

If we figure in the percentage gain from $1100 to $20,000, it is 1690% over a period of 246 days.

Current breakout point of $14,000 +1690% would give us a target of $264k by Oct-1st 2018.

I know this chart is a bit ugly, but below are a couple charts showing you what I'm talking about.

Comment: Also, the upward facing pitchfork has been modified with todays low as the third point for the creation of the pitchfork. The target is slightly lower than the current pitchfork, but that pitchfork does not take into account a possible drop to $8300 before we continue upwards.

Comment: This modified pitchfork shows a low point of $8300 within the next 48 hours. And with this pitchfork, our $264k target is within the pitchfork on Oct-1st 2018.

So while you may be feeling the pain today. HODL!!!

Comment: 4h ichimoku cloud is still above us, so it will be resistance for a few more days it looks like.

Also, it appears we have a bearish flag, which could push us down to the $8300 target some people have discussed and the more we go through each day, I'm thinking it's coming before we bounce. I think very possibly this weekend we'll see this drop before we bounce back. Hopefully it won't last long and the bounce will be hard to push us up through the 4h ichimoku cloud, so we can progress upward again.

also and ill state this here .. the last time BTC sees the 13K range will be the second week of Feb. or very close to that, it will zoom up to the high 20s at that point retrace and hit 50k mid summer June/july .. sept/oct 100k will be hit and so on
+2 Reply
Kotzaaa Boss_Coyote
@Boss_Coyote, 2nd week of Feb (Feb 14) is Chinese New Year. I disagree with your comment as this will still cause crypto to be taken out for fiat.
8200-8300 was the only 50+% retrace unchecked along the way up and I am starting to realize every single coin retraces AT LEAST 50% at some point or another. may be a day, may be a week, may be a month, but if your patient and set your buys at 50% of the run it will get there they all do it. check the charts for yourselves.. from Sept 15 BTC was (3200$) to Dec 15 (19,600$) exactly 50% of that run up is 8200$ and it just happens to be the only area that a retrace missed on the climb (8-9k). I just started do this last week and have already unlocked the secret to making a ton of money.. enjoy : )
+2 Reply
Tin.Foil Boss_Coyote
@Boss_Coyote, I tend to agree on most of them hitting 50% or more. 61% seems to be the sweet spot for me. But setting buys at 50% seems like you're missing the boat on some coins that go up 300% in a 3-7 day period. Even if you just put 25% of your portfolio into those higher risk, high return coins for a short period of time, you can come out ahead, moreso than waiting for that 50% buy to fall to 50% then to gain at least 100% before you see a penny in profit.

But then again, I trade daily, sometime hourly, sometimes more. If you're buying and holding for anything more than a couple weeks, then that's a completely different strategy.

If I spread say $100 over 4 coins, $25 each:

$25 Coin A = loses 60% = $10 left
$25 Coin B = loses 60% = $10 left
$25 Coin C = loses 60% = $10 left
$25 Coin D = gains 300% = $75
= total balance $105

So I see 5% in gains if 3/4 of my targets miss.

If I get lucky and 2 of my targets hit:

$25 Coin A = loses 60% = $10 left
$25 Coin B = loses 200% = $50
$25 Coin C = loses 60% = $10 left
$25 Coin D = gains 300% = $75
= total balance $145

Then I'm up 45%.

Spread that across 5-10 different coins, seeing some making gains of 300% or as much as 1000% in 7 days and where are you then?

+1 Reply
Are you smoking Bob Marley dreadlocks?
I feel like this may be too optimistic in such a short period of time. Could you check out my idea to see if you agree mine may be a more conservative likely target by mid February ?
Perhaps now is the best time to buy some alcoins or just need it to wait more?
CanDiDaT Marius0713
@Marius0713, ALTs will further dip on a BTC really
+3 Reply
You should leave the flight hoping the trader.
Tin, I'm in pretty big minus (bough when BTC was around 13.5 k), bus still keep all my coins. Is there a sense to convert all other coins (omg, dash, ltc) to BTC, so it grows then quicker, or better to avoid any movements now?
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