Bitcoin bear market is over

Well, I said it.  I realize that the words may come back to haunt me, in the event of a crash in the not-distant future.  But I’m not terribly worried about that because I know the odds of that happening are now very slim.  Critical resistance on the long term chart has broken before bitcoin bulls in the last 2 days.

XBT

The community of chat subscribers registered at our school bought XBT at just above the low 48 hours ago.  Since then, we have been waiting for confirmation that the bull market had actually begun.  The key, imho, is whether or not the 1×1 Gann angle will fall.  And as of this writing, with 22 minutes until close, price is still above that critical angle.  If it holds, as seems likely, our confidence that the bull market, possibly a “Wave 3”, has begun, will be pushed to the 95% level.

ETH

ETH is a day away from exiting the 2nd arc pair.  My expectation is that once it clears that arc, a rally will commence. Target of $350.

ETC

Like ETH, ETC is a day away from clearing a 2nd arc pair.  A rally will likely commence tomorrow.  Target $22

XLM

XLM is climbing up the 1×1.  It will test the 1st arc soon.  Hopefully, it will clear that arc and get a rally started. Too soon to give a target…

XRP

XRP has cleared a 3rd arc pair and is apparently beginning a new rally.  Target 0.45

DASH

DASH is rallying strong.  3rd arc resistance is seen ~ $175

LTC

LTC has just closed above the 1st arc.  It is promising a rally that ought to take it to new highs ~ $70

Happy trading!

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.