This is the weekly chart that I designed at the end of March and BTC followed it perfectly so far. While August (as forecasted) was a very bullish month and BTC moved to the small blue rectangle on the chart, September would be a decision month. There are multiple bullish signs, but… but… but… there are a few concerning points that prevent me from becoming fully bullish in September. Let’s discuss the perspectives from various angles.
In August BTC formed a typical bullish continuation candle. Everything looks like as if BTC is setting up for a nice rally with the price sitting on the 8 EMA line.
However, there are a few concerns. The price was rejected below the mid point of the June’s candle. The very low monthly volume and the majority of indicators pointing down.
All these suggest that BTC to possibly build a bearish Mat Hold/Falling 3 Methods type of multi-month pattern.
The weekly and daily candles can add more clarity for the shorter perspectives.
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This is the condensed Track Record of our most recent #crypto calls:
- $BTC – March 24 – call for imminent reversal, target $29000!
This happened when $BTC was $52k and approaching the top, when the experts were calling for $100k and $150k next.
- $ETH – May 16 – call for strong decline, target $1700!
This happened at the beginning of the decline when $ETH ws $3600 and everyone was saying it was a minor blip.
- $BTC, $ETH, $ADA, $LTC – July 21 – call on Bottom
This happened on the day the cryptos formed a strong reversal combo and started rallying.
- $BTC – July 24 – call on the 10 consecutive green days
This happened on the 4th day of the rally once we recognized a special pattern.
- $BTC – Aug 18 – call on Bottom
This happened within minutes after the bottom, at 9:45 pm PST, when $BTC was $44250. It has rallied 10+% after the call.