BitcoinGuru
Long

Bitcoin Megabull Cycle - Resumes December 7-8

BITSTAMP:BTCUSD   Bitcoin / Dollar
My last few charts failed to pinpoint the exact Bitcoin top. Their were several potential tops at $680, $715, $750-760 to consider from. In the end Bitcoin formed the exact ascending triangle (s) we had seen in the $465 - $360 range. This pattern is not new for Bitcoin , as a matter of fact, the same ascending triangle pattern formed prior to the Megabull of 2012 after reaching a top at $14 as seen in this chart:

snapshot


Back to the current setup if you choose to take it:
Bitcoin hit $750 roughly on November 2nd on all exchanges forming another ascending triangle , and it started consolidating for 36 days in a wide range of $765 - $650.

The expected break out date and start of the Megabull rally is: December 7-8 2016

From there we will be able to continue our journey way higher as we head to the "moon". If we manage to hit $1100 Bitcoin could get higher due to increased media coverage and more interest / hype that will bring new money in to the market.

Conservative targets are: $1,150, $2,800
Medium targets: $4,200, $8,800 per Bitcoin
Extremely high volatile targets: $10,000 - 15,000

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Comment: Bitcoin update:

Still in a long boring 36 days consolidation in $760 - 660 range till breakout on December 8 roughly. However, the range can be tighter during this accumulation phase as the volatility is low. Hence no daily/weekly updates are needed until we are on the verge of a breakout.

snapshot


Reminder: Any break below $600 nullifies this setup as bearish repercussions will be expected instead.
Comment: It has been a while since I updated. It now worth to give an update as less than few days are left before we break out and start the megabull based on the previous fractals!

If you checked earlier my twitter, you would have seen my tweet on the 1D BB band squeezing tight currently which means the market is ready to make the bigmegabull move. All higher timeframes as well have signaled by squeezing tight in the past few weeks (6H 12H) as well.

Time at Node on the 1D timeframe signals the start of a new 21 day cycle which should be a bullish (megabull) cycle as long as we remain above the 1D mid band bollinger band at 5250cny or 443$. Any weakness below this level means that will see more consolidation instead of a bull cycle so please be careful and ALWAYS set alarms especially with leveraged long positions!

Updated chart below as you see, we have one more day at the low levels of 5250cny or $543 before we start mooning :)

Will issue an update once we break out. Happy trading!
snapshot
Trade active: The Megabull has officially started! It is safe to add more to your Bitcoin stash and take a small leverage long with target the moon and stop loss under 5250cny.

The fractal is spot on this last part (see chart below). We have less than 24hours on the next 1D candle to start mooning.

We spent extra time at 5250cny but it was needed consolidation. 12H BB are ready and squeezing the big leg to $830 and to an ATH is imminent at this point! 1D 1W 1M Timeframes are all bullish.

New chart will be published tonight - be on the look out!
If you like my work and benefiting you big time, think about donating to show your support when you can even if it is $1 :)

snapshot
Comment: Updated Trading View Chart Published!

Bitcoin Megabull Cycle - Starts in Less than 24 Hours
Why does the Extremely Volatile Target stop at 15K? If peeps are willing to shell out over 10K per BTC why stop there?
Reply
BitcoinGuru rivet.popper
good point but remember at this point were massively speculating. nobody knows where we will stop yet alone if we will get above $2000 or $2800. Past performances are not indicative of future ones.
Reply
rivet.popper BitcoinGuru
I'm just trying to get an idea of ranges (esp. upside ones) and how they can be predicted. But let's consider a world where ppl are so scared of fiat that they're willing to pay up to 15k for a virtual coin they've only recently heard of. In that scenario, shit is going nuts and no one is using their heads, therefore logic would go out the window. A 15k coin is Crisis Mode for most of the world. Plus, who even has 15k to risk on it? Like maybe 1% of the world? Don't get me wrong, I'd love for this to happen but how on earth could it occur in such a short time span?
Reply
bingbongfly rivet.popper
y
Reply
bingbongfly rivet.popper
Take in consideration you don't have to buy a full bitcoin. BTC will most probably start to be measured in mBtc which means you can by 10mBTC for 7 dollar. Or 100mBTC for 70 dollar. Which is more affordable.
+1 Reply
rivet.popper bingbongfly
Yeah I considered this fact as I was writing the comment above. So you think mBTCs would go into the 100s of USD? I guess it's possible but then do even enough people know about Bitcoin to take things this high? And even if they do, do most people have that kind of risk capital, esp. in poorer countries where a runup would probably start (ie China)?
+1 Reply
bingbongfly rivet.popper
Personally I don't think we'll see more then 2000$ per BTC.

I was just responding to your assumption that you have to "risk 15k on BTC".

Reply
jostitrade bingbongfly
@bingbongfly,why only 2000usd?
Reply
Crypto.888 rivet.popper
@rivet.popper, I completely agree with your view. Unfortunately our friend here, has had it wrong on many occasions. I pointed out a few observations on one of his last charts and he dident take it well. Any good luck to him.
Reply
It would be very nice
+1 Reply
To infinity and beyond!
+1 Reply
timeframes getting close to a breakout soon
Reply
BitcoinGuru rhb_3000
@rhb_3000, Hi correct! and were emulating the last part of the old fractal see the update in my comment section up there 2 days left before it starts hopefully!
Reply
rhb_3000 PRO BitcoinGuru
@BuyBitcoin.WS, it dropped some just now which was needed to moon right?
Reply
BitcoinGuru rhb_3000
@rhb_3000, yes very normal, see the chart i posted this drop was expected been a while in my books to retest the Midband of the 1D Bollinger Bands at 5250cny or 543$.
This is a good and last area to open a leverage long before we moon of course with a tight stop
Reply
can you give your nickname on twitter? best regards
Reply
iHodl mariuszdzieza
@mariuszdzieza, https://twitter.com/BTCEliX
Reply
Let's wait and see? :-)
Reply
Price predictions sounds too good to be true....and then it usually is :(
Reply
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