ALERT: Bitcoin setting up for final move into 20 week cycle trough
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Derek Frazier shares and explains his ideas and process of decision making behind cyclitecnical trading. Please like and comment.
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ALERT: Bitcoin setting up for final move into 20 week cycle trough
0035 CST
By my calculations, there is a final drop into the low 20k area. Maybe it just taps 24 again.
Nevertheless its at 30k right now, and there has been a break of the 5 day Up VTL meaning the 31750 area or 32000 area is a decent sized stop if you trust cycles that small, otherwise the stop is higher at 40k which is unacceptable as an initial stop.
The entry is on a break of may 17th lo 29400 if not confident at the market.
Target 24000 for 20 week cycle trough formation, due in a week or so.
It will probably move sideways to down after that.