Sir, when finally pump again?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
So this boring sideways phase of BTC is really testing our patience. But for how much longer can it go on? Well, if look at historical situations where we had very similar structures, this already happened twice. The first time in 2012, and then in late 2015/early 2016. Two things are happening which point to the timeframe
where a breakout will happen with a very high probability:

1. The daily MA200
The daily MA200 keeps climbing slowly. In the last cases where the bullmarket started, every time BTC price hit the daily MA200 again at some point. They converge slowly
and then the BTC price touches the MA200. From the current rise velocity of the MA200, we can assume that the convergence might happen in November.

2. The weekly bbands
The weekly bbands are narrowing more and more, and the price hasn't even touched the middle weekly bband yet. However, historically, 2012 and 2015/16, the middle bband has both
times been touched. And this by the way happens at a very similar time with the covergence of the daily MA200. This also points to November as the time where the BTC rally will
probably continue.

So the weekly bbands and the daily MA200 both point to a covergence in November.
We probably will then see a strong breakout.

Note also the monthly picture. We have this time a very similar situation as in 2012 and 2015/16 also on the monthly chart:

This also points towards the end of the year for our good old pump continuation.
It appears that we might have to find some other hobbies until then XD
Comment: Currently it doesn't make sense posting many charts, I hope you will understand. BTC is doing the same behavior as in early 2016 or early 2013. It will be sideways for 2-3 months now, maybe a small pump or dump here and there.
It's funny that everyone is expecting huge moves, I always see charts with giant arrows upwards or downwards. But BTC needs to rest a bit before the next huge moves :)
Hopefully sideway will allow Alts to breath.
+1 Reply
@nagihatoum, Yes, I hope so too.
your analysis about MA200 and bb are logical but the timeline seems too long. We are near the apex now. Big movement will happen much sooner than you think. I will say Next weekly candle
@SamHuynh, it's actually extends to first week of December.
@SamHuynh, It's hard to say. Of course a move could come sooner, but I think the very big one will only come when the bbands are narrow. But let's see :)
+1 Reply
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