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Bitcoin has turned down again, but here is the new stop for an exit if wanted...
So here we go with another down move,
I do think it breaks through lower on the hourly chart, but I dont have the best confidence because of recent strength in the last half of the preceding 20 day cycle.
39650 stop exit
check out the chart’s yellow lines, two stops to use for exit that will keep this trade on if below…
The stop out for Bitcoin is now at 39650, if its moving down, it has to now, or we may be seeing a bullish 20 day cycle for the rest of the 80 day cycle. 20 days is not exact, BTW.. its averaging 16 days for a 20 day (nominal) cycle. Nominals, means “named”… isn’t that easy to remember? Instead of saying the “16 day cycle”? We can just say: “the instrument is having a 20 day nominal cycle low for which it may bounce higher”!
If you doubt it, go ahead and try it, you can go in and actually see that it has more like an average of 16 days. And the 80 day cycle is averaging 59 days or thereabouts.
Even if its an early exit, its just to protect capital, and reenter tomorrow or Wednesday short!
Have a great night, catch you tomorrow
PS: I will do one more update tomorrow on Bitcoin for Free subscribers, then Wednesday thru Friday can only be seen by Upgraded subscribers.