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Bitcoin update

The diagram below outlines the 2018 and 2019 Cycle for Bitcoin .

You can see that price ran down into the 24th June 2018 and made Low on that date which was 50 days in time from the Top and a decline of 41.5% . From there we ran up 31 days till the 24th July an advance of 44.5% following that we ran down into the 14th August for Low before moving lower . It appears that we may be following that Cycle as we have a Cycle date of 24th June 2022 for Low which will run out a 4 year Anniversary date from Low.

The second Cycle outlined is 2019 which may also provide an indication as to position of trend but the correlation does not appear to be as strong as the 2018 pattern.

The diagram in green pen outlines the current position of the market - so far we have ran down 87 days and declined 63.18% from the 28th March Top which exceeds all the previous percentage declines . We did have a significant decline in 2017 measuring 70% which is outlined below and the current drop has has exceeded that swing also .

I have also included some percentage of the High calculations which may also come in handy as we move into the Cycle dates . these are outlined in the computer chart .

There are two Curves that we may follow but the dates in both examples are constant but the polarity may change so it is very important to wait for these dates to come in and then we can qualify them as either Top or Bottom and match them against the Curve.

Curve No 1 points towards Low on the 24th June then up till the 5th July and down till the 28th July then up till the 18th Aug . Curve No 2 also has the 24th June as Low and up till the 28th July which is interesting as the time period of 35 days closely matches the 2018 Cycle which has a 31 day advance into the 24th July so we could be running against this Cycle .

The current focus should be on the 24th June setting up as Low and if that point is confirmed we could either be up till the 5th July which is our first signpost to monitor about 11 days out from the 24th June so pay close attention to how we move into this date and if we get a good rise and Top into this point we may be able to take some profits - The second scenario is a rise into the 28th July and the 7th July may come in as a pullback - these three dates the 24th June - 5th July and 28th July are key Cycle dates to observe so based on these two Curves we have a framework to monitor and it will be important to examine the pattern of trend and volume leading into these dates .

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