What is Bitcoin price forecast? Find out which are Bitcoin’s future value predictions!

Do you want to know which are Bitcoin’s future value predictions? Watch our latest video to learn why is important to have Bitcoin price forecast and how can it help you in your trading!

The importance of having Bitcoin price forecast – a financial astrology guide

Hello, and welcome to Diary of a Trader and in today’s video, we’re going to go over a forecast, or my forecast, going forward for Bitcoin and cryptocurrency market as a whole. And this is involving basic regular technical analysis, that’s also involving Gann’s working in his market geometry and his day counts and also it’s using financial astrology.

So, from a technical analysis perspective, just from a basic technical analysis perspective, I always like to start off with some basic Dow theory and basic Dow theory really kind of lets you zone in on one thing. So, is this market bullish or bearish? Well, neither, right now. People will say, “Well, it’s still in a bear trend because we’re trading below the all-time high or we’re trading below the over year lows, or we’re trading at calendar level, calendar year lows.” The thing is that the bear move happened and it was pretty much over with by February, or if you want to say, in March. We’ve been in a consolidative range. So in Dow theory, what do we look for? We look for accumulation, we look for that excessive pump here, then we see distribution and panic and then we see consolidation again. That is what we have going on here. We’ve had consolidation going on. So, I know that we are in a consolidative state. We’re not bearish, we’re not bullish, but we are leaning more towards going bullish, alright? And why do I think that? Well, I posted an idea on TradingView on, let’s see, it was June 18th. It is right now. So, this is July, August, September. Three months ago, exactly, I posted this idea here and if you’re familiar with TradingView and you post trade ideas, it tells you the date that you posted them, and you can hover over and see the time, 6:24 in the evening, on June 18th, 2018. I posted something called a mirrored foldback and you’ve probably seen the video on this. If not, you can certainly go check it out, but a mirror foldback pattern is just a repetition of the previous swings. We’re not looking for the exact price action, we’re just looking for the structure to repeat. So, it might be hard to see on the video, but if you look at the pattern here, I’ve just mirrored the past price action and the reason I did that, is because on June 18th, that was the exact 118th day from the all-time high, and to the center of the square of 52, which is a one-year cycle. So, if I hit the play button, look at what happens here. You can see that price action has followed this structure pretty accurately. So, currently, where we’re sitting right now, the behavior is to experience a pretty dramatic rise higher. That is the behavior that we should see happen. And again, we’re not looking for the exact price levels, we’re looking for the swings. So, was there a swing low right here? Yes, there was. Was there a swing high up here? Yes, there was. Was there another swing low, right there? Yep. Swing high, yes. Swing low, yes. Looking for another swing high here. So, that is the mirrored foldback pattern and because it has been following that for a period of months, then, one can really lean on it to continue, alright? So that’s one piece of analysis pointing towards a higher trending market.

The next is a chart that I did a video on, recently, for Diary of a Trader. And that’s on this. This is the chart of Bitcoin, but with the longitudinal position of Venus, every 36 degrees. So, the divisions are 36 degrees. So, we want to find one that says 36 on here. Okay, so here’s 36 degrees, then we have 72, 108, 144, 180 and then 216. So 216 degrees. The thing about this cycle is that, it appears very frequently, at least 36 degree divisions frequently appear near swing highs and lows with astonishing accuracy. So, the fact that we are at a swing low area here, and we’re right next to this square, or rather this longitudinal position of Venus, that to me is a very bullish sign, alright? And, in fact, that is being reflected in the price action that is trading today. You can see that Ethereum it was up almost 11% today and then we also see all coins are catching a big bid and then Bitcoin itself is up 1.79%. All right. The other things that are causing the bullish sentiment and this is very much shared with the dollar index forecast I just did a couple of days ago. If we look at the dollar index, we can see that there’s a series of events here. So, real quick, we have a ton of astrological phenomena showing up on this date, and it’s a fairly large collection of data. Probably, more importantly, is this zone right here. So, this highlighted gray box here, it says, “A Time of Troubles”, where the arrows are pointing, it also means in this box, this is the retrograde cycle of Venus. The retrograde cycle of Venus, in the regular stock market, means prices are moving down. I mean it has extremely high probability of prices falling very fast, especially if it’s near all-time highs or near an important swing high or low. Well, actually, if it appears near a swing low, it will rise, but that is not often the case, often markets are near highs when you get into the Venus retrograde cycle in equity markets. But for Bitcoin, Bitcoin is retrograde cycle, even though we only have about 10 years of data. Bitcoin’s retrograde cycle tells us that there’s a high probability of rising prices. And so, that can certainly happen beforehand. It doesn’t have to happen right here. It can happen beforehand and continue all the way through. So, looking at the dollar, a weak dollar means that Bitcoin will naturally rise in value, against the dollar. So that is something, to keep track of the dollar index, as it falls, Bitcoin will increase.

But we have a series of events happening, so from the 21st to the 24th, Mercury enters Libra, so it enters the 21st and then it exits the 24th. Also on the 24th, we have Vesta exits Capricorn, and we also have a full moon on the 24th. In addition to that, Chiron and the Moon form conjunction. That is not a common occurrence, it only happens, I don’t know, last time it happened was maybe the ’70s or the ’80s, but whenever it has happened, it’s never really a good thing in markets, which is something that has reflected positively for Bitcoin. If the dollar and the stock market have been doing very well, Bitcoin seems to have a fairly flat trade and that’s probably one of the reasons why it does so well in the fall and the winter. For just a short period, every Bitcoin cycle, most of the time has a pretty bullish move over the fall and the winter. So, if we look at Bitcoin, and we know that, seasonally, it catches a bid in the fall, and we can see that here, let’s just clear this out and let’s go all the way back as far as we can. And so, let’s look at these dates. So, we’re looking for September, actually after September. So, like September 23rd, through October and November, we see a rise. That is back in 2015. Let’s go to 2016. 2016, we see September here, October, November, December. That’s where it rises a lot. 2017. We know how that worked out and so, now we’re just coming back into here. So, September is really an area where you see the final consolidation. You can kind of see the first little glimpses of a market making a bigger move. So, seasonally and then astrologically, there’s a lot of things happening here that are going to cause Bitcoin to move higher.

But, probably more importantly, well maybe not more importantly, but equally important is this chart here. This is the Bitfinex data. This is the short positions or the people who have short. So, it looks bullish because people have been participating in shorts. So, if you’re short, this is the kind of chart you want to see because it reflects that shorting has been very helpful. Here’s the all-time high, back on April 12th of 2018 and the high was near that $40,804. I used natural harmonic numbers, instead of just the all-time low and the all-time high. I picked harmonic numbers that were just above the all-time high and harmonic numbers just below the all-time low. And then, the law of vibration time cycles what I’ve got for time, but we can see here that prices have been trading multiple times near the all-time high. So, back on August 22nd, on August 7th and then, again yesterday on the 17th. So, there has been a triple top formed with frequent lower highs, descending triple top. That is a very bearish scenario. We also see that the two Candlesticks on the daily are forming a tweezer top. It’s facing resistance up against this inner 48 harmonic. It’s this thin blue line that has a very strong area of resistance. And we see the arc was acting as resistance too, so we should expect to see prices fall down and have a pretty good fall. Additionally, right here, this is a time cycle on the 22nd of December. That is a pivot in time and so, how that works is, it acts as a source of resistance to the trend in force and if prices come down to here, then we have a square price in time and this is an even more dramatic area, which should see it drop even farther, if we get to this within one to two days before or after this square price and time here, we should see some pretty dramatic activity, too. So, basically what we’re looking at here is, these are a whole bunch of traders, who have active short positions. And as Bitcoin rises, they are going to feel a lot of pain. That’s what generates something called a short squeeze. So we should observe a lot of people wanting to capitulate. That’s exactly what happened back here is, as you move lower the acceleration of shorts having to cover and there being a huge rise in Bitcoin’s price, that is what we’re seeing here. So, every little tick that people are covering… Shorts kind of cannibalize themselves. They kind of cause a waterfall event and then, that gets, not only them to push the price up with their covering, but it also gets people who’ve been sitting on the sidelines as bulls, to want to capitalize on that short pain. So, that is what we have happening here.

So, as far as where does price go this year, I’ve got a couple of ideas of where that could go. And one of them is an idea I posted on Friday, not Friday, September 16th. So, this is a long term Elliott projection. So, considering that the bottom here that the yearly low, the calendar year low in the 50 and 100 zone, that is the end of the first corrective wave. So wave 2, and that we begin Wave 3. And wave 3 goes up to $37,000. But I actually wrote that there’s two price targets and two date targets. So, the longer one is a date of July 9th, 2020, with a price target of $37,708 and 31 cents and then, the second price target is at $34,761 and 87 cents. And that’s much closer. That’s this year, in 2018. And I think that that is actually a very reachable target, $34,000, probably even higher, because Bitcoin grows exponentially every one to two years. There’s a massive spike, it exponentially gains in value and there’s nothing to say that that won’t happen again. I also want to point out that this is probably something that is very important to notice, is that, if you look here, we see that there are three 216 degree instances that show up, okay? The last time we had the 216 degree repetition, the tri-appearance of that, and that’s because Venus is retrograde, is all the way back in 2010. And so, because Bitcoin and everything in the markets travel in cycles, it’s not uncommon to see a repeat of the price action and the percentage moving forward. From the first 216 degree level, we moved up to here, at 50. There was a 776% gain on Bitcoin. So, I’m not suggesting that that is the kind of increase we should see, because, obviously, a rising, something that is 6 cents to 50 cents is much easier to do on scale, than it is to go from 6000 to 100,000 or much higher. It would be a pretty ridiculous price. But, if we’re looking at the current price action here and we’re looking at the dates, we’re looking at the cycles and everything else, Bitcoin traveling much higher this year, where the reversal in time actually happened began and started back in March. And now prices are finally starting to catch up with it.

So, that is the forecast for Bitcoin moving forward, for the end of 2018. Thank you for watching!

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