Back to the current setup if you choose to take it: Bitcoin hit $750 roughly on November 2nd on all exchanges forming another , 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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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.
Reminder: Any break below $600 nullifies this setup as bearish repercussions will be expected instead.
If you checked earlier my twitter, you would have seen my tweet on the 1D BB band squeezing tight currently which means the market is ready to make the bigmegabull move. All higher timeframes as well have signaled by squeezing tight in the past few weeks (6H 12H) as well.
Time at Node on the 1D timeframe signals the start of a new 21 day cycle which should be a bullish (megabull) cycle as long as we remain above the 1D mid band bollinger band at 5250cny or 443$. 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!
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!
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This is a good and last area to open a leverage long before we moon of course with a tight stop