There are several things that have us more constructive BTC. First, the monster rally in 2017 started right around 9/15. Market's love symmetry. So, a big move begin now, repeating what happened in 2017. Next, the recent full moon shows up in our Gann cycle work as a date that creates a bullish time window (not shown).

Looking at a 50 period moving average on a 2D chart and Fib speed resistance lines, we see two levels that stand out: $10,400 and $11,000. If BTC can hold around $10,400 or break above $11,000 in the next week, that could create a major up move. Conversely, if there is a major decline in BTC that could set up a big down move. So, net-net, there could be a big break either way in the next 10 days.

Bottom Line: We see BTC set up to make a move. Based on charts, our bet right now is that the move would be to the upside. You may want to wait until after equities open, but if you are bullish BTC, we think you can take a shot.

Fundamentally, people need to get money out of the Middle East and Hong Kong. If oil goes to $80, that could impact equities and drive fund managers toward BTC as an alternative asset.

DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice.  The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.