Bitcoin: Save The Date (October 12th)
This is a bullish BTC scenario aiming $680 in October 12th, when we'll probably have an answer regardings Bitcoin ETF and Bitcoin Core 0.13.1 released, with the segwit improvement (major driver for previous rally).
Volume is very low and we could still see some bear trap to $586 (previous resistance now turned into support), which would be a good dip to increase the position.
Volume is very low and we could still see some bear trap to $586 (previous resistance now turned into support), which would be a good dip to increase the position.
Note
We just broke the nasty $610 range, things might accelerate from here as this gathers momentum. Historically, October has been a very bullish month for Bitcoin (ie, 2015 and 2013).On the fundamentals side, besides Core 0.13.1 with segregated witness update we have new ATHs on Hash Rate and the supply cut might begin to have some effect. On the first halving @ Nov 28th/2012 price went down for 9 weeks before exploding up, which is pretty much the same lenght of the previous corrective move were on the weekly.
I welcome any dip to increase here, as we might be beggining that bull run to retest ATH (check the related Bitcoin long-term symmetry idea).
Note
Still on its way to the $666-680 range. $626-630 is a strong level for buying dips.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.