Full credit initially for this chart goes to JoeBu on Trading View. He was kind enough to share his initial chart with me. This is an updated chart following my last chart on the failure of the megabull that occurred after January 15th. This chart is my predictive forecast on the occurrence of the next Megabull cycle after our latest failure at the double top...
Bears: This is my modified version of Time Node from Tim West applied to Bitcoin. So far I have been very successful with this method to forecast accurately the next moves of Bitcoin. I also am using a fractal from the previous ATH of $680/$660 The annotations are on the chart. We are currently starting an 11 days bearish cycle with the possible targets...
Full credit initially for this chart goes to JoeBu on TV. He was kind enough to share his initial find with me. I dug more into it and detected the 36 days consolidation/sideways pattern (yellow rectangle) before each megabull cycle started. All those cycles occurred however when Mark Karpeles was in charge of Mt. Gox failed exchange where initially the bot Willy...
Due to popular demand, I am publishing an update on my earlier draft. Thanks to a flow of good news from Silbert in regards to ETF, Bitcoin was able to pierce through my yellow line and with sustainability for now. I am bull to 300-315 initially as we also have the auction on March 5th which I think we could dump on the news on March 5th. March 5th could be where...
Look for the (A) Bullish and (B) Bearish scenarios on the chart with explanation. I personally still do not believe that we will break past the 255-270 area. I think we might test 260ish within the next few days but we will fail there. However, I am always open for the bullish scenario once I see a huge breakout with good volume! - a good trader always look at...