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Market Overview : Bitcoin - SP500

A few important price levels to watch if we move down to the 5th May Low.


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Here is an updated overview including Charts for Bitcoin and the SP500 as we move towards the 5th May Target date . The two important dates for May are the 5th and the 17th where two important Time Cycles are indicated .

As outlined in the SP500 Chart there is a fair probability that trend could continue to move down into the 5th May for Low so we will have to wait for confirmation around this point or on the next bar to confirm that we are holding Low above this date and then we can set a time based stop just below this date as a precaution . If the 5th May is confirmed as Low we could move higher into the 17th May as outlined in the previous Curve . Usually when a Time Cycle date has been identified a week or two out I will usually present two Curves outlining two different scenarios moving into that date so it is always wise to be patient and wait for the particular date to roll around before doing anything . A few days beforehand the pattern of trend moving into this date should give us a clear indication as to whether the market is setting up for Top or Bottom or some other type of counter trend structure and at that point we should be able to determine the projected direction of trend leading out of that particular date into the next target date . Usually I will locate one or two of these high probability points every month or so as I try to select the intermediate and stronger Cycles that enhance the probability of a prolonged move with good price amplitude . You will make more money and preserve your capital by waiting for these signals to come in as the reversals out of these Cycle points are usually longer lasting swings and larger in price amplitude and by understanding where you are located within the trend according to Time Cycles and Time periods you can reduce anxiety and stress by just waiting for these Cycles to come in and linkup with other factors and then take action at the correct time . This evening I will try and do some more study on SP500 price targets so I may post an update later this evening .




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5 May could be a counter trend top as well followed by a Low on the 17th of May?

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