BTCUSD – Countdown to SEC ETF Decision (10K Target)

Good day, my fellow traders!

What I have for you today is a revised version of my ‘Bitcoin Q3 Trading Guide’ quarterly forecast that was originally posted on July 1.

In my original forecast, I had placed three targets for Bitcoin             to achieve from July 1 until September 30, 2018. The targets were 6800, 8000 and 10000. As of today, Bitcoin             has remarkably achieved two of those targets against all odds.

The first target of 6800 was reached on July 7, which is six days after my forecast. The second target of 8000 was reached on July 24, just 17 days after achieving the first target. Therefore, the only target that remains is the 10000 mark and Bitcoin             has until the end of September to score it.

Please note that everything (key levels, timing etc.) in my quarterly chart is pre-calculated based on a variety of trading methods and indicators used. The reason you don’t see them visible is because I have purposely removed them to keep this chart clean and easier to comprehend.

What To Expect From Now Until September?

In this new revision, I have realigned some of the upcoming breakout points to reflect the latest trend development based on new fundamentals, including SEC’s upcoming ETF decision on September 30.

For the next 2-3 weeks, I expect Bitcoin             to continue with its sideways consolidation within the range below 6800. During this period, price may revisit some of the major support levels at 6000 and 5700.

Should price decline to the 5700-level, a double bottom reversal pattern may be formed with a strong reversal that would lead price up to our TTL level at 6800 and onward to our final target at 10000.

If market sentiment continues to grow bearish due to more FUD or lack of positive news, I could foresee Bitcoin             going down to the 5300-level to complete the Falling Wedge pattern before forming a sustainable trend reversal. Although I find this probability to be the least likely to happen, we should always be prepared as the market is never short of surprises.

Regardless, we should see price slowly moving up to our TTL level at 6800 and breaks out of the triangle around late August or early September. If this happens, I expect Bitcoin             to pick up its upside momentum the closer the ETF decision date looms. If everything goes accordingly, Bitcoin             should reach our final target of 10000 in the 3rd or 4th week of September.

On the other hand, should SEC decides to reject all of the ETF proposals prematurely, then be prepared for price to fall down to the 5000 support level .

Keep in mind that this is a long-term forecast that covers up until the end of September 2018. Forecast for the period of October 1 until December 31 will be covered in my Bitcoin             Q4 Trading Guide quarterly forecast. Interested parties may send me a direct message for further details on how to pre-order it.

Good luck and happy trading!

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