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Home Cryptocurrency news

Major Bitcoin Move Coming? Bakkt Launch Date Coincides With Gann Pivot Points

Tony Spilotro by Tony Spilotro
2 years ago
in Cryptocurrency news, Bitcoin
Reading Time: 3min read
Major Bitcoin Move Coming? Bakkt Launch Date Coincides With Gann Pivot Points
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This week, the Intercontinental Exchange-owned Bakkt announced the date it would finally launch its much-anticipated and long-awaited Bitcoin Futures trading product, and Bitcoin price responded by spiking over $400 over the course of the next few hours, nearly reaching $11,000 before experiencing a pullback.

The date Bakkt launches is already an important date for Bitcoin, considering how bullish the platform is acting as a preferred gateway for institutional investors to gain exposure to Bitcoin. However, that date is also showing important significance as a Gann pivot point – a date in which powerful price movements or trend changes are expected according to Gann theory.

Bakkt Launch Timing Lines Up With Bitcoin Gann Pivot Points

There’s no denying that Bakkt will have a major impact on the Bitcoin market and Bitcoin price as crypto investors rejoice that what the community has speculated for months will be the catalyst that ignites the next bull run is finally ready for launch. Simply confirming the launch date and CTFC approval has been enough to send Bitcoin price rallying nearly $1,000 before it was stopped short just under $11,000 last night.

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Related Reading | Can Ancient Math Predict the Next Bitcoin Top at $220K?

Bakkt’s launch date of September 23, also has significance as an important Gann pivot point. According to Mitoshi Kaku, a technical analyst whose analysis regularly uses trading strategies and theories popularized by W.D. Gann, a “legendary trader” known for combining ancient math with astrology to predict price swings not only by direction or target, but the time these movements would occur.

I was wondering why people were taking about Bakkt on my Gann dates and predictions updates today, lol… And I just noticed the dates. Sorry guys I don’t really pay much attention to the news. Too busy time-traveling! ?? pic.twitter.com/O17hqsHQlv

— Mitoshi Kaku ?‍? (@CryptoSays) August 20, 2019

Kaku’s latest chart has been widely discussed by the crypto community for including the key Gann pivot date of September 23, alongside October 7th and the much closer August 26th. The date just so happens to be the same date as the launch of Bakkt.

The most recent Gann date on the analyst’s chart was June 24. On that day, Bitcoin broke through $11,000 and not even 48 hours later reached its local high of $13,800. If an equally significant move is in the cards for Bitcoin, a new all-time could be set, or Bitcoin price could fall to a fresh local low.

Next Pivot in August: Time to Sell or Time to Long BTC?

According to the analyst, the next Gann pivot date of August 25th also holds great significance and could be a “day to long BTC really hard.” He left the idea “unconfirmed’ until closer to the date itself, but then later followed up with a contrarian bearish note saying that it could also be a “time to sell everything.”

Or a time to sell everything! Next Gann pivot have a massive between 8/25 – 8/28 which means something big could happen. My gut is leaning towards the big bear as I have quite a few alts with reversal pivots also for 8/26 ? Time to pay attention. Monthly pivots from Sept to Dec.

— Mitoshi Kaku ?‍? (@CryptoSays) August 19, 2019

Kaku notes that the next Gann pivot is “massive” between August 25 and August 28, and that his intuition as a trader is leaning more bearish by the day, given the reversal setups the trader is seeing in the altcoin market.

Related Reading | Gann Theory Suggests Bitcoin Price at “Do or Die” Moment, Important Pivot Ahead 

The analyst further notes that from September through December, which are “monthly pivots” likely starting with the Bakkt launch on September 23, is a time to pay extra close attention to Bitcoin price action.

Tags: bakktbitcoincryptogann theoryW. D.Gann
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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