Long

BTC Explained - What If Bitcoin Has Bottomed and What Lies Ahead

Updated

Doesn't it seem strange that Bitcoin still has not undergone capitulation in its recent correction? What if Bitcoin has already bottomed? Odd as it may seem, a correction without capitulation can only be explained if the asset is actually in the Awareness Phase of a bubble. If you look at the chart above, we might actually be approaching the end of the Awareness Phase. This explains why price is picking up steam instead of declining to the lower lows. What if institutional money is already here and investors have been silently buying the dip all this time, taking advantage of panic traders who sell their precious Bitcoin under-priced? With CBOE's highly-anticipated ETF approval right around August 16th (not 10th), this perfectly-timed bullish catalyst could end the bear market and move Bitcoin into Mania Phase. Share your opinions below.

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To traders who are new to the 4 Psychological Phases of Asset Bubbles, you may learn more from here: financeandcareer.com/the-4-psychological-phases-of-asset-bubbles/

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Good morning, traders. Bitcoin has recovered nicely off the recent higher low as price continues to climb higher in the last 24 hours. A close above the neckline ($6,900) of the inverted H&S will signal a change in trend over the short term and lead us to the $8,000 region. Let us remain skeptical and patient for now.

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Bullish news:
MUFG, the largest bank in Japan, is now planning to launch its own cryptocurrency exchange.

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Good morning, traders. Even though we had anticipated this 7400-7500 rally on July 14 (4 days ago), I am just as impressed with Bitcoin's performance as anyone else. Here is a comparison between my forecast and the actual price now.

Forecast (July 14)
In this forecast, I predicted the 3rd wave to end at around 7100, a level to take some profit, before continuing to the 5th wave that ends at around 7450.

Actual (July 18): In actual, the 3rd wave ended much lower but the 5th wave ended just as predicted. This is a big win for us as we not only managed to take profit at 7100 but 7450 as well.

To my followers, thank you for your patience and confidence in me. You deserve this profit.

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My fellow traders, Bitcoin just broke 7500. We are taking another ride up. The IHS target is somewhere between 7800-8100. Enjoy your profits!

cryptoezvip

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