BobLoukas
Long

#Bitcoin - Next 60-day Cycle $BTC

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The Last 60-day Cycle Low expectation I published two months back hit to the very day. We have a Cycle Low exactly on the 60-day mark.

Time for the bulls to take back a little control and begin to drive price higher. Don't get excited however, ebb and flow of markets simply means the bulls will have short term momentum as the pendulum swings in the other direction.

I also believe there is a good chance we see a trend-line break, an indicator that is too heavily followed by participants and will lead to some excessive bullish sentiment again.

Look, this is Bitcoin ...anything is possible and a bull market resumption is always a possibility. But understand that bear markets are also a necessary process within any "secular" bull market. And after a 20x parabolic rally, i doubt we're going to see a bear market end in just 1.5 Cycles or 90 trading days. Always fine with being wrong, my trading allows for it! Best case for the bulls IMO is the one I laid out on the chart, mostly a sideways consolidation into the next big Cycle Low scheduled for mid May.

Happy Trading. Remember, make sure you're #HODLing some off line and not touching it, regardless of price declines.
How about February 6 started the new cycle instead of January 17 ?
Reply
@severt, That is possible as an extended Cycle. And considering we did not see a rally out of that Day 64 low it's something to watch for.
Reply
severt BobLoukas
@BobLoukas, I'm still curious what make those cycles. Is it profit taking at default dates? I know you have answered this question before, but simply stating everything in the world is made of cycles doesn't really satisfy me personally. I like the whole idea of cycles though :)
Reply
I really dont see any trend breaks till we hit around 3k, we are still in a bubble. We are going out of business, but we still have merchandise to drop.
+1 Reply
@BobLoukas , Thank you for this balanced perspective! love the approach
+1 Reply
Thanks for sharing brother :)
+1 Reply
@Deach69, Of course, thanks!
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out