TraderDave Posted August 28, 2018 Author Share Posted August 28, 2018 (edited) I just noticed something which confirms some earlier suspicions I'd been having. I had not dismissed the possibility Bitcoin had actually bottomed out a few weeks ago, and I suspected this recent drop could make the "double bottom". However, I just noticed it has been quietly travelling a bullish channel this entire time. I'll post a chart in a few hours. This is actually very exciting. Edited August 28, 2018 by TraderDave Ripple-Stiltskin 1 Link to comment Share on other sites More sharing options...
TraderDave Posted August 28, 2018 Author Share Posted August 28, 2018 This is part 1 of a few charts I'll be creating, simply providing a broad overview of bitcoin's trend reversal/ bull market entry, or what I like to call "Exhibit A": https://www.tradingview.com/chart/BTCUSD/wIFVUdzF-Bitcoin-Bull-Is-Here-Part-1/ legomaracas 1 Link to comment Share on other sites More sharing options...
TraderDave Posted August 29, 2018 Author Share Posted August 29, 2018 Reasons why I believe we are in the dawn of a bull run: Link to comment Share on other sites More sharing options...
TraderDave Posted August 30, 2018 Author Share Posted August 30, 2018 We're now reaching a boiling point in a few hours, where I'm anticipating a jump to at least 7400 to 7800 between 1:00 AM - 5:00 AM Pacific time. I expect steam to begin blowing at around 3:00 AM. There's a scenario of similarly crumbling to the downside, but I don't see this as the likely outcome. Once people catch on to the event's unfolding, and the possible implications (bull season), there can be a chain reaction which unfolds where 1) Shorts begin rushing to close their position, 2) Short stop-losses/ liquidation points are reached, 3) Hysteria to buy bitcoin, which I could see pushing the price to 8600 territory or higher (in a matter of hours). Regardless, a very significant event will unfold in less than 2 days to mark the month's closing -- great downside or great upside. I am literally banking on the latter. Ripple-Stiltskin 1 Link to comment Share on other sites More sharing options...
TraderDave Posted August 30, 2018 Author Share Posted August 30, 2018 17 hours ago, TraderDave said: We're now reaching a boiling point in a few hours, where I'm anticipating a jump to at least 7400 to 7800 between 1:00 AM - 5:00 AM Pacific time. I expect steam to begin blowing at around 3:00 AM. There's a scenario of similarly crumbling to the downside, but I don't see this as the likely outcome. Once people catch on to the event's unfolding, and the possible implications (bull season), there can be a chain reaction which unfolds where 1) Shorts begin rushing to close their position, 2) Short stop-losses/ liquidation points are reached, 3) Hysteria to buy bitcoin, which I could see pushing the price to 8600 territory or higher (in a matter of hours). Regardless, a very significant event will unfold in less than 2 days to mark the month's closing -- great downside or great upside. I am literally banking on the latter. Nice bull trap. It seems we are officially in a trend reversal. ~6534 is the next bear target. Link to comment Share on other sites More sharing options...
TraderDave Posted August 30, 2018 Author Share Posted August 30, 2018 Close below 6926 send us further down. Link to comment Share on other sites More sharing options...
TraderDave Posted August 31, 2018 Author Share Posted August 31, 2018 (edited) Looks like initial target of 7400 is in session. Seems dip was a support test. Still travelling bullish channel. Edited August 31, 2018 by TraderDave Link to comment Share on other sites More sharing options...
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