This is a zoomed in 1D chart of my previous Trading View chart of the Bitcoin Megabull Cycle based on the fractal of 2012-2013. It was spot on so far until that additional leg to $780 probably due to that short squeeze that started on Okcoin Futures.
Bitcoin blew past $650-680 and we continue our journey way higher as we head to the "moon". If we manage to hit $1000 Bitcoin could get higher due to increased media coverage and more interest / hype that will bring new money in to the market. Google Trends already shows accrued interest as seen in this chart: prntscr.com/bhxfel but still not parabolic interest (so there must be more room to moon imo)
My conservative targets are: $840-$950 or $1170 and $3000+ The current fractal potential target is: $10000 - 9000
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交易开始
Bitcoin megabull trade is still active until the red line is violated.
If line is violated I would suggest to rebuy or long at $550-520 for a potential double bottom on that old support of 2014
注释
Currently the red line has been violated if this continues expect a drop to my revisited targets of:
Expected bottom: 570-580 moderate bottom: $550-564 high volatility with margin calls: $525-540
交易手动结束
Unfortunately the red line was broken and like i warned in the comment section down below another chart comes into play prntscr.com/bhlpuc with a double bottom at $550 area. We will consolidate at those levels for at least 3 months.
This means for now the megabull has ended. I believe sometime in October 2016 we will resume the megabull to $10000 area. I will publish a chart when I get time away from personnel life and work to show you why the bull trend is still alive short-term and long-term as long as we remain above $460
In the meantime you can follow me on twitter to get quick updates on recommended trades and setups!