Monthly Bitcoin Bullish Candlestick Reversal

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
1009 7 20
Hello all,
Something jumped out at me today and I thought it was of such significance I would post/publish it here for 'the record'.
Needless to say, the Bitcoin             bear has been a long slow grind and I for one shall be happy to see it go. That appears to be happening now as more and more anecdotal evidence builds for both broader market adoption and public interest in Bitcoin             related exchange listed trading vehicles. Aside from the bullish fundamental developments, we need to see some technical evidence of a reversal and I believe this one chart is just the kind of evidence I need to see. Rarely do we see valid bullish candle patterns appear on the higher time frame charts and if/when they do we ought to pay special attention. Sometimes however we lose sight of the forrest through the trees and time passes between visits to those higher time frame charts. Indeed, today a student pointed out this monthly chart to me and I almost fell off my
This appears to me to be a classic 'inside' reversal pattern. Our group deemed it a 'bullrami' a while ago (was such a funny discussion) as it really isn't a harami but we often found bullish reversals worked off it. Simply put, the pattern suggests a break of the inside bar's high on subsequent bars produces a 'buy' signal and a break of the first bar's lows represents your stop. This event did and has occurred and I for one am very please to see it. While a test of the lows of the bullami are perfectly realistic, in my opinion a serious break ins't likely soon. Indeed, the break of the inside bar's highs suggests the bulls have the ball for now.
Since this price pattern represents a huge $100/coin risk, trading off it in itself isn't the best idea. But, if long setups present themselves I will feel like (at least for the next few months) we have the wind at our backs and not in our faces.

Thanks and I hope you can benefit from my analysis,

Brian Beamish
aka The Rational Investor

p.s. feel free to drop by our TradingView chat room ( or PM me directly if you have questions about our members lounge, school programs or other site features ...have a great day all
The monthly candles are really messing with my head, shouldn't there be 3 of them now in 2015 since we are int he 3rd month? or is the entire graph just shifted one full candle to the left ???

Other than that, i'm not a fan of monthly charts on this young instrument, the Monthly reversal back in April was 100x stronger and that did not end all that well. Hope it works out though
Indeed, they are messing with mine too. TradingView definitely has an error there....good eye
Looking specifically at the candles, at best I had a very wide potential bullish fractal back in April. Certainly nothing I could take a trade off of or declare a reversal. This however is a clean bullish inside reversal pattern and it is in itself a reliable pattern which is very work-with-able imho. I feel it so much so that I would be willing to publish this view to my entire TV, Twitter and web audience.
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all 6 of you.....teehee
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ToneVays CRInvestor
Hahaha, that was funny, keep posting and you'll have a following, being right helps too :).

I try not to forecast too far out, here is my last one:
Hello Brian and hello Bullrami... I couldn't write it better then u, but always keep in your mind "how immature and stupid this market is sometimes" //gj
I was bullish since January 2015 because of the bullish monthly candlestick pattern. I'm glad to see two months later more and more market participants confirming it was the bottom.

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