Megabull Rally Starts After January 15 Target $650-680

8 Oca 2016

After touching the 1D top of the Bollinger Band @ $463 following the crash of several currencies and stock markets worldwide, Bitcoin entered sideways/consolidation between $463 - 440. I expect Bitcoin to retest the support at 442-436. So if you missed the initial break out, make sure you buy in this area. Your stop loss will be at $422 in case Bitcoin fails for any reason.

We will stay in this $463-440 chopzone until January 15-16th after which Bitcoin will break out and start the megabull rally. So make sure you jump on board as long as the blue neckline holds before we take off. I have studied previous megabull breakouts and use a combination of time node and fractal to find trading scenarios.

Initially, Bitcoin will revisit $500 and pullback to retest $475-463 as support and launch back up few days later to $650-680 and much higher.

Failure of this megabull cycle will be seen by a break of $400 and a failure of a break up above $475 by January 25th. If this happens consider flipping to fiat until further notice.

I am here to help. Feel free to ask me questions or PM me directly.

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Bullish Related Bitcoin News:
NASDAQ: "This Time Bitcoin's Price Increase is Both Logical and Sustainable" crd.ht/3n8k8k4
China announces it is suspending the circuit breaker that halted the market 2x this week crd.ht/GnuX9Vw
China Trading Halts again after 7.3% plunge PBOC been devaluing the yuan vs usd. Chinese rush towards, Bitcoin, Gold, silver crd.ht/BDudsaa

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10 Oca 2016

Not

Guys, I am going to raise the stop loss to $430 I am not liking the crappy bull action so far in the past few days. We had 3 red candles on the Daily in a row. The good news is that were retesting the previous support and were holding for now. Watching the new 1D candle in few hours to see how the BTC market and WorldWide, Chinese Market reach.

13 Oca 2016

İşlem kapandı: durdurma seviyesi

Stop loss hit. 5 days of bearish daily candle in a row.
Awaiting in fiat to see if we wash down further than $425 or $400.

13 Oca 2016

Not

January 15th is closing soon, which means or:

> Bulls: The pre-consolidation phase ends on January 15th, we stay above 420-400 support, start to crawl up past the 15th and the megabull starts right after.

> Bears: The pre-consolidation phase ends on January 15th, we break down under 420-400, start to wash down past the 15th and the bear market has a chance to take us down to 275 and pop us back up to stay in the 315-420 range.

15 Oca 2016

Not

Tomorrow is January 15 and instead of crawling upwards as Bitcoin did on the last 3 previous bull cycle did, Bitcoin is heading down.

> Bear: $400 might be retested in the next 48 hours, if we fail to hold above it and break it, I expect a washout to reach AT LEAST $348 approximately. However, if volatility picks up we could see much lower down to 325-315 area and even worse to $275 before a recovery.

> Bulls: If bears fail to break the support we currently have around $400-420, I expect more sideways to be on the menu. But now the megabull cycle occurrence is becoming very questionable and the longer it takes to happen after January 15, the less likely it is likely to happen.

If the bull cycle fails to happen, it could bring a rest to the fact that Karpales really had Willy the bot setup to perform those cycles in Bitcoin and nothing more.

I will be publishing a chart shortly.

15 Oca 2016

Not

Bear trend confirms only when $400 breaks with big volume:

16 Oca 2016

Not

Last hope for the Bulls, holding above the big cup on a thread.

20 Oca 2016

Not

Bitcoin held above the cup for now which is bullish.
A move above $425-430 would confirm the trend again.
Again not too sure if we will resume the megabull from here or not. We are still stuck in a big triangle

28 Oca 2016

Not

New analysis published