Breaking point!

I'm not sure what will happen this year, but right now I think we are about to do a pump:

Target: 8360$ (Depends on when it hits the small blue arcs I drawed)
When: End of August

Arguments:
- Arcs are perfect aligned right now.
- The global momentum is very low at the moment - It's time to pump it up.
- Global Gann lines made it bounced already (blue lines).
- 0.786 fib level global made it bounced already.
- We might be done with the 5 wave inside this wedge pattern.

Currently we are heading against the local neckline and it could easily grow quickly next days.

Forecast: "The Breaking point"
Bullish rally - If the global wedge pattern breaks up then it should rise further. The blue arcs should not be crossed though.
Bearish rally - After this pump it will descend along the green gann line.

I know I've been bearish lately, but I think this bearish rally has gone long enough this time.

Good luck!

Комментарий:

A close-up on the current situation: It follows the right shoulder perfectly right now.

Комментарий:

Here is another chart showing the current break out:

Комментарий:

Update:

Комментарий:

Right on target:

Комментарий:

A close-up:

Комментарий:

This is how it looks right now(and I made the neckline horizontal). Looks like it took a small break along the green gann line. I think it will do another pump when this gann line gets crossed. It is also clearly inside the blue area again after crossing the inner blue arc (another very good bullish sign).

Комментарий:

BTC is strong at the time but the next step will be critical (The breaking point):
- Bullish rally continues keeping itself inside the blue area.
- Bearish rally will begin right after hitting the lines I've drawn earlier (blue curved lines). Further on it will go outside of the blue area.
Personally I think it will do a small pullback anytime soon hitting the upper line and then continue on upwards along the blue arcs.

Комментарий:

It just hit the first of two curved lines! + 0.618 fib level. It might do a small pullback now.

Комментарий:

**More or less a hit

Сделка закрыта: достигнута тейк-профит цена:

As I mentioned earlier today it might do a small pullback now. And that's why I say the first target is completed this time:)
If you went in early I would probably stay long next days and making sure it doesn't leave the blue area.

Комментарий:

Okay, I think the next ideal long entry should be 7450$. This is the 0.382 fib level and also inside the blue area. It should happen in beginning of August.

We should also see some testing along the blue inner arc and the upper line from the wedge pattern.

Комментарий:

Here is a picture of the current situation:

Комментарий:

Here is the background of the blue curved lines:

Комментарий:

Double top next?

Комментарий:

We are about to entry "the breaking point!". Is it going to follow the gann line downwards or would it continue on the rally upwards??

Комментарий:

It might turned, but I'm not sure. If so it was just 0,3% away from the target 7450$.

Комментарий:

wrong image!

Комментарий:

7450$ hit. The rally may continue within 2 days from now on.

Комментарий:

7330$ (double top) hit!

And outer Arc hit!

It is now or never!

Сделка активна

Комментарий:

Here is the current situation. It is very close to the outer arc now.

Комментарий:

I appreciate the support! Feel free to agree on this idea if you think it is useful:)

So how many of you think it will go up on the current situation?

Комментарий:

Here is another long term idea which could be useful too:

Сделка закрыта: достигнута стоп-лосс цена:

...And it broke through the outer arc...

Комментарий:

Just tested the gann line (the blue one). It might do a squeeze now before continuing downwards..

Комментарий:

The outer arc on this one is still active: