Bitcoin Weekly Time Cycle Analysis

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is a weekly chart

Vertical gold lines: halving dates

Dark red lines: Prior cycle tops (candle wick tops)

Lighter red lines: Prior cycle body closing tops (notice how much tighter this cycle is; small gap between both light & dark lines)

Green Circles: I am pointing out my belief that we are currently right around the January 2017 weekly fractal . Meaning, we're getting up to an area very close to prior ATH , but will not pass it and ultimately have a correction at/near our key 21-weekly SMA .

The 21-weekly SMA is key because: during our prior bull cycle look at all of the candlesticks . During the run up to $20K we stayed above that line. We may have had a candlestick wick below it, but we ultimately closed the week above this SMA . I am expecting the same price action to play out.

This implies once we top here, we should see a correction in the $12k-$13k price range. We'll have to see how the week closes and how the new 21-weekly SMA prints; should print in the mid $12Ks.

Either way, we are VERY close to printing new ATHs in Bitcoin and seeing our first massive Altseason.

As always, unemotional patience.
Twitter: @CryptoBullGod

Unique Value I add to this space:


Love clicking the Play button on your charts just to see it play out exactly as you predicted. Well done!
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