Bitcoin overview

Also keep a very close eye on Curve No 2 as this is a strong possibility. A few days beforehand we should be able to determine if the market is running against this Curve. This chart looks like the strongest possibility .

Here is an updated bar chart for Bitcoin including Angles and other calculations .

After a careful revision of the two Time Cycle points which are the 5th May and the 17th May I believe there is quite a good chance that the 5th May could turn out to be Low then trend up till the 17th May for counter trend Top as indicated in Chart No 1 below . That appears to be the most likely scenario at this point so it will be important to see if price moves up into this point in line with the projected Curve and a few days before this point we will be able to determine if the market is setting up for a Low into this date or whether it is following one of the Curves outlined below .

Curve No 1 :

The two important dates to watch for May are the 5th which is an intermediate Cycle and the 17th which is a Major Cycle . At this point it looks like the main trend could continue down into either one of these dates so I have presented two Curves outlining two different scenarios that could unfold . The 5th May is an important date for several reasons which I will outline . On the Square of Nine the 5th May is 45 Deg which is an important Seasonal Time period where important changes in trend can often occur . We are also running out a 45 week low to low Cycle from the June 2021 Major Low which is also a strong indication that there could be a significant shift around this point . The 8th May is also 180 Deg in longitude or opposite the 10th November 2021 Major Top which is also very close to our target date of 5th May so with the convergence of two major Cycles aligning into this point and some other minor time counts there is a strong possibility that we could see a significant reversal on this date and at the moment I believe the 5th May could setup as counter trend Top but I would be patient and wait for this date to approach and the position of the market leading into this point should give us a clear indication as to whether we are setting up for counter trend Top or an important Low . It is always important to wait for these signal dates to roll around as you will make more money and preserve your capital by waiting for a shift in trend to occur around these dates . Below I have prepared a few Curves that Bitcoin could follow so a few days before the 5th of May we should know which Curve Bitcoin is running against .

Curve No 1 projects a counter trend Top on the 5th May and if that is the case we may continue down into the 17th May as outlined on the chart .

Curve No 2 projects the possibility of a Low into this and Curve 3 projects a Low into the 17th May so it will be important to observe the pattern of trend leading into these two key dates and what Curve we are going to follow . I would be advisable to wait for the next bar to either trade lower or higher as confirmation after the signal date and then place a time based stop under or above the 5th May depending on which scenario unfolds .

The chart below is a detailed breakdown of the previous Bear campaign which ran down 35968 points in approx 71 days into the 21st June 2021 at a rate of 506 points per degree to complete half of 144 or the Square of twelve . Compare this to the recent move down into the 24th January Low which equals 75 days and 35605 points down so we can see that the two major time periods are about balanced and the amplitude of both price swings closely match which is good indication that Low levels have either been reached or are close to that point .

Here are some price calculations that I will go through and explain

The two important Time Cycles to watch are the 5th and 17th May .

The next calculation measures the price swing between 45661 Top and 34459 Low which equals 11202 points and projects that range down from 48086 Top which equals 36884 which will balance the price amplitude of the previous range . Please bear in mind these are not specific price targets but measurements derived from past market action that may provide us with important clues if these calculations line up and coincide with the two Cycle dates .

50986 is the 50% retracement or midpoint between A - B which is a handy future measure to put in the diary and keep track of . Price found resistance very close to this point at the 28th March Top

40635 is the midpoint or 50% level between B - C and we are currently trading below that half way point at the moment but it still could be an important future zone to monitor to see if important tops or bottoms are setting up around this point . The second set of calculations are what Gann called the Percentages of the high and low price which are important points to watch as important reversals coinciding with Time Cycles can often manifest around these points .

51592 = 1/4 of the high price and we are below this level

45860 = 1/3 of the high price and we also well below this level however these points should be noted for future reference just in case price trades up or down into these zones .

1/2 of the high price could be an important point to watch at 34395 as we are fairly close to this point as we are moving into out time cycle dates we should check to see if there is any price symmetry around this point .

1/8 of the low = 38332 and we are at this point at the moment but I would be placing more emphasis on 50% of the high price as it represents a stronger point for change .

The next Chart is also an overview of Bitcoin discussing the 1/3 and 1/8 overlay grid from top to bottom and contains some interesting notes .

The next chart is of particular interest as it outlines a similar pattern from last year that may possibly repeat . I have outlined these two formations on the chart . The time periods are different but if we project the range down we get a price level of 35684 which could be significant as it is just below previous price action.