After the recent strange fall, Bitcoin has quickly recovered and accumulated new strength to go further. Traders say that it has all chances to hit the $11,000 target and continue to the $12K goal. How soon that should happen? Let’s check out BTC price charts and read Bitcoin price predictions from tradingview users.
Megabull starts on 22-23 September?
The last night, we observed the Bitcoin 1D Bollinger band Head Fake that played out nicely. So, what’s going to happen next?
A few hours later we got a full bart up to $10,380 back in the middle of the 1D Bollinger Band squeeze and this was a head fake. If you look at the volume you see a nice green bar which was the highest we have seen since early September! That green volume bar confirms that this is a legit head fake. We just need that last part of the confirmation that comes next week with a break out past the top of the symmetrical triangle at $10,450-10,550 give and take / Bitstamp.
We have a 3rd wave which we just started after hitting at $10,380-10,480. Yesterday, Bitstamp hit precisely $10,380. From here we should see Bitcoin go for a last gradual sell-off on this wave that could drop to $10,100-9,950 roughly until September 21-22 after which we break out past the top of the symmetrical triangle (confirms past $10,550) to $11,000 for the BAKKT launch.
So why are we seeing such 3 waves with spikes followed by a decline? BitcoinGuru’s theory is that the Market Mover uses the 3 Bitcoin waves to load up on ALTS 3 consecutive times and having them surge. We still have the 3rd wave on ALTS to do I believe this weekend. Make sure you take full profit on ALTS to BTC by Sunday/Monday as after that Bitcoin may go for the last sell-off so the Market Maker loads/scoops up cheap Bitcoin the last time before we get the real break out on September 21-22.
It’s only the start
A lot of traders predicted the BTC surge like the one that happened yesterday. They waited for a better entry-level down at the $9,500 level but never got it until now. Throughout the day we had a consolidation pattern that "should" have broken to the downside but our MACD oscillator gave us a clue as to why that wouldn't happen. Instead of negative momentum to begin again after cooling down from the previous drop, we saw positive momentum shift the trend, breaking the pendant to the upside exactly to the 0.5 fib level.
The price bullishly consolidated over the potential bear flag and broke up to the 0.5 level again to break it. Now we are bullishly consolidating again, and this time over a descending channel that broke down from $11,000 range. If the daily candle ends up looking like this one seen right before this rise up until $12,400, we should start to see something resembling a new rising channel formation to the ultimate target of $11,700! We can see on the RSI 1D chart that there is a bullish divergence bounce from the same level while sustaining lower prices.
We need a new confirmation
HeisenbergBTC has been watching this pattern for ages and it is coming to an end. Looking at history we did have a downtrend that resembles a flag pole and a pennant that broke down (the first triangle to the left). This looks like a continuation pattern that broke down afterward. A descending triangle is typically bearish, but not pennants. Bitcoin daily volume today is at $19,752,190,073 and Bitcoin dominance is sitting at 69.65%, so there’s no reason to be bullish about BTC even after the latest surge.
Disclaimer: Price predictions from news.u.today should not be considered as trading recommendations. The cryptocurrency market is prone to high volatility and occasional arbitrary movements. Before making investments, you should make your own research and be familiar with all local regulations.