Bitcoin Daily cycle and 4 year cycle entry opportunity
Updated
Looking at the monthly we can see the context of where we are. The funds we have we committed here to crypto are committed and we need to stop fearing losing them.
The monthly is very bullish.
We have recent achieved 9 month highs, we are above the 50 month moving average and last month recaptured the 34 month MA.
The weekly...
https://www.tradingview.com/x/FbI4VquH/
Price is very strong on the weekly, supported by the 8 week moving average and we have closed 6 weeks above the 200 wMA now.
All of our moving averages are pointing up apart from the 50, which appears like it is just about to turn.
The daily....
https://www.tradingview.com/x/JtR3JGBo/
I follow Bob Loukas cycles videos on Bitcoin live and then interpret for myself between videos. Not to plagiarise Bob...
Some people could take the view here that we need to wait for a pullback to 25k. I think there's a couple of interpretations of where we are, with respect to cycle behaviour.
We are either late in the cycle, currently day 54, and Bitcoin just doesn't seem to want to break down, or we are early, with short cycles in an aggressive part of the bull run.
Taking the context of the weekly and monthly, we re-enter here and we simply become investors if the position turns against us. This needs to be our core position now.
The monthly is very bullish.
We have recent achieved 9 month highs, we are above the 50 month moving average and last month recaptured the 34 month MA.
The weekly...
https://www.tradingview.com/x/FbI4VquH/
Price is very strong on the weekly, supported by the 8 week moving average and we have closed 6 weeks above the 200 wMA now.
All of our moving averages are pointing up apart from the 50, which appears like it is just about to turn.
The daily....
https://www.tradingview.com/x/JtR3JGBo/
I follow Bob Loukas cycles videos on Bitcoin live and then interpret for myself between videos. Not to plagiarise Bob...
Some people could take the view here that we need to wait for a pullback to 25k. I think there's a couple of interpretations of where we are, with respect to cycle behaviour.
We are either late in the cycle, currently day 54, and Bitcoin just doesn't seem to want to break down, or we are early, with short cycles in an aggressive part of the bull run.
Taking the context of the weekly and monthly, we re-enter here and we simply become investors if the position turns against us. This needs to be our core position now.
Trade closed manually
The daily EMA8 has turend over by a couple of days and we have closed a day below the 50dMA. We are over extended, and we are in a risk on asset. I'll sleep better by exiting now at 28180 and taking a small loss. If we clear 31k then we can get long again looking for a breakout, or if we test 25.5k we can get long there. Still bullish, just avoiding a drawdown on any incoming major volatility.
Note
Day 58 in the 60 day cycle, so if 46 is actually NOT an early cycle low, we should be looking for volatility here.
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