TA indicates a bull run is coming

[ukloon]

Another exclusive analysis for y'all. Remarkable similarity between today and the June 2019 bull run. We might have another leg down first, especially due to covid fears but it's unlikely to go below $8500. After that, the rise will be sharp and swift, blink and you'll miss it

[pixie85]

I like how the chart is lining up but...

there's usually more at play than simple analysis can cover. Last time there was no pandemic and no threat of recession. It all can go to shit if stock market crashes on us.

Also, youtubers are startuing to be pretty desperate shouting that trendline was broken and Bitcoin is in a bull run every time it barely moves by 5% up. This makes me think that we are still far away from a real pump like the one in your prediction.

[AmoreJaz]

if nothing else thats a pretty nice prediction here. lets wait how far it will be when reality hits our face!
with different factors involved this time, are we going to experience the same trend???

    watching this thread...

[btc_angela]

I read this speculation in other media platforms as well, I think it is reddit. And people are then again jumping to the conclusion and the June leg up was just had peak around $10300-$10500 if my memory serves me right. So it's not a bull run per definition, probably a good bounce from the trading sideways that we have seen lately, it's boring and we really need some break out runs.

[samcrypto]

Many says bitcoin always repeat itself and we can confirm that if we are able to break the wall on $10k without the dump. I see many predictions, but this one is more accurate since its base on the price movement of bitcoin and not just an speculation.

The sideways trend of bitcoin now is the indication that something big is coming, as I’ve heard that Israel succeed on their vaccine or medicine to fight Covid-19, I believe this will be the best reason for bitcoin to rise up and other market too.

[hatshepsut93]

I wouldn't rely on TA too much these days, Bitcoin is influenced by the global economic trends right now, and we are living at very unstable times due to the pandemic. The Bitcoin market reached record correlation with stocks, so these days it might be better to watch news than draw lines on charts.

[Kelvinid]

TBH, I don't really rely on TA's because all of these are just speculations and we are in speculative market things that we are in uncertain of what will happen next. We can draw any speculations base of what we understand the current behavior and all of these things, Bullrun is quite impossible this year and we can feel it.

I was closely checking on the market situation and seems not able to see a huge market demand that could trigger something explosive but it remains calmly as it was in the past days. I don't want to be more optimistic this time for the reason that it was only a tin chance to make it runs.
Anyway, I was satisfied already for the current price.

[pooya87]

actually if we are looking for a similar previous trend i'd say this looks more like the first quarter of 2019 rather than the May and June months outlined in the chart in OP. circumstances are pretty similar too:
- a big drop for no reason other than panic sell and manipulation
- getting stuck behind a strong resistance ($4k) and going up and down in a fixed range
- a lot of FUD claiming price should drop 50% just because it isn't rising!
- a high volume indicating accumulation
- all of this taking months to complete.
i agree with the conclusion though. the uncertainty that has kept investors from jumping in will cause a sharp rise when the rise begins.

[DevilSlayer]

TBH, I don't really rely on TA's because all of these are just speculations and we are in speculative market things that we are in uncertain of what will happen next. We can draw any speculations base of what we understand the current behavior and all of these things, Bullrun is quite impossible this year and we can feel it.

I was closely checking on the market situation and seems not able to see a huge market demand that could trigger something explosive but it remains calmly as it was in the past days. I don't want to be more optimistic this time for the reason that it was only a tin chance to make it runs.
Anyway, I was satisfied already for the current price.

You got it wrong pal, Technical analysis and speculation are different. When it come to technical analysis, you rely on price action, structure, trend and volume unlike speculation is just an opinion or prediction on what will happen to the price. It is better to rely on technical analysis than on speculation because technical analysis can give you legit data and information that you need in your planning stage.

I rely on technical analysis when I do trading because it is working for me, I tried to use before fundamental and sentiment analysis but it doesn't work on me and I incurred huge losses. I do not say technical analysis is better and I only saying that it is the analysis that is suitable for me. There are still no signs that a major bull run will happen, the price is still consolidating and it requires massive volume in order to surpass its current resistance levels.

[Fundamentals Of]

The same TA may indicate all kinds of possibilities though.

I can see so many patterns and triangles and all kinds of shapes and lines on that same chart. But good thing that you can find a bull out of that picture. I am crossing my fingers.

[buwaytress]

Right, I do see the pattern on the chart (base level and tight range ascending previous to that) but to be fair, I wouldn't have seen it if you hadn't drawn it out. Flatter triangle that hasn't been confirmed (and won't be confirmed for a while so that's going to be even flatter. When's the point where you saw this isn't a repeat of a 12-month cycle? I'd have said it's negated by now.

[exstasie]

Those fractals are a real stretch. I never find this kind of analysis reliable anyway.

I wouldn't rely on TA too much these days, Bitcoin is influenced by the global economic trends right now, and we are living at very unstable times due to the pandemic.

I agree about the unpredictability of the current situation, but I wouldn't disparage TA. The charts reflect all the fundamentals.

Price is trading in a tight range. I'm confident when that range is broken with authority that we can reliably trade in the direction of the new trend. This is simply a time where TA should be used to react to a breakout, not to predict one.

[bitbunnny]

TA isn't fully reliable and often it could be interpreted in different ways. Based on techical analysis you can't predict bull run, unless that calls wishfull.thinking.
TA is just a help tool but not something that could help to predict price movements and something your decisions should be based, don't give too much significance to it.

[Oasisman]

~snip~

You got it wrong pal, Technical analysis and speculation are different. When it come to technical analysis, you rely on price action, structure, trend and volume unlike speculation is just an opinion or prediction on what will happen to the price. It is better to rely on technical analysis than on speculation because technical analysis can give you legit data and information that you need in your planning stage.

But just like speculations, TA's won't give you a definite prediction. TA's may have all the data from the past price movements and trends, but still it's hard to predict the future price.
It's always better to use both fundamental and technical analysis. I, the same with the others on this thread won't solely rely on TA's as these patterns won't mean much with the current global economic recession and pandemic.

[Jating]

How about bitcoin's dominance slowly declining though? Is this another indication that investors are shifting to altcoin market now? IF this is the case then we might see this trend continues and that the supposedly bull run is not going to come as expected?

And we also have to understand where is the money will come as well. We are still in the pandemic and there are reports surfacing already that a second wave is imminent. And this may cause people to panic again, cash out or simply hold their fiat and not invest at all until everything settle down again.

[dragonvslinux]

I like the thinking here, I hadn't considered the similarity of summer 2019, especially now being in summer 2020, the seasonal aspect also seems pretty relevant.

Now the Hash Ribbons have signaled the 12th buy signal in 10 years, I'm also leaning more bullish long-term, even though a continued correction is possible:

Buy signal confirmed on Weekly chart!

[BrewMaster]

exactly what i wanted to say today. i wanted to start one of my FOMO topics here which i always make during times like this. there is certainly a strong buildup in the market now and it could turn into a good momentum that could follow the same previous patterns including the summer of 2019 pattern and before you know it we see all the walls at $10k, $10.2k, come crumbling down and we find ourselves between $12k to $14k in a day or two.

[el kaka22]

TA is not giving you definite result, of course it can't, I mean if it was that certain everyone in the whole world would just do TA and make handful of profit every single day and there would never be anything as a poor person since everyone would make profits.

However, one thing is different in TA which is the fact that it is basing the assumption into something itself. So, for me to say "I think bitcoin will be 12k" and someone else saying "hey this chart is showing xyz to be abc and that is why it could go to 12k" are very different things. Are they both assumptions? Of course they are, nobody can see the future, however at least one of them bases their idea to something they have seen and can be proven, doesn't mean it will definitely happen but at least means they didn't just made it up.

[slapper]

Damn, so many good analyses for a big bull run in the next few months. I can't wait any longer to sell my bitcoin and altcoin. My technical analysis also shows the same result of a big bull run. A triangle is already shaped, just need to wait for a big pump to confirm this bull

However, the risk always involves in any trade. Money management is always necessary. Dont throw all of your money in one place. Be a smart investor

[sayulita]

Another exclusive analysis for y'all. Remarkable similarity between today and the June 2019 bull run. We might have another leg down first, especially due to covid fears but it's unlikely to go below $8500. After that, the rise will be sharp and swift, blink and you'll miss it

All the fear of a bearish run have gone down and everyone everywhere are predicting a bull run now, I think we have to be more careful from now on as a lot of times bitcoin do what is expected the least from it, so there can be an incoming market crash, but currently everything seems fine and the TA also hold good and looks like we will be having a Bullish market soon enough. I've been waiting from a long time for the market to do something, its been dead from a long time since the month of April and now finally we will be able to see some price action.