Bitcoin (BTC) Morning Update: The W Cycles
SUMMARY
Note: Video has much more details not captured in this summary.
Cycles are either phasic (in sync) or non-phasic (out of sync). Bitcoin (BTC) price cycles are mostly dominant at the 20 week and the 40 week terms. The below chart shows the peak and the trough cycles and the sub-cycles the compose the larger ones. I primarily utilize Hurst cycles.
I believe Bitcoin (BTC) could be displaying a W shaped cycle bottoming process. The white arrow below shows that the bottom of the first trough was at around the $5,900 price area and the second has already occurred at $7,290 or is about to occur. I beleive it's already occurred. Therefore, if this is correct, higher highs are due in early April.
The alternate to the primary white W cycle is the blue as shown in below chart. Note how the white touches first yellow line long term support. The blue touches the second yellow line support. To the uninformed and unaware, the blue line represents despair but to the informed and the aware, it represents a phenomenal ladder entry opportunity. How you see it makes all the difference as a trader/investor.
Whether the white or the blue pathway....it matters none. They both work in parallel. This is what I mean when often I say that there are multiple paths but same destination. Einstein stated that the past, present and future all occurred in a single instant at the same time. The white and blue represents a parallel event. Again, more details in the video and shorter term overnight price action analysis will be posted in a little while...but first, digest this one.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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Going to read more on Hurst
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Hgin You should stop your SCAMS NOW!!!
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Haejin You do not provide any entertainment. I brought you some.
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
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Hey dogggg you are a looser in a league of champions, good luck to your miserable life 🤺
No, the truth is you don't know the difference anymore between a lie and fact.
Haejin is a champion you are a doggg big difference 🧐
You think this is about winning and losing? That's pathetic! Only a dense, obtuse sociopath would do so.
What’s it about mr envy dogg?
I can smell the fear!
How @haejin is a champion?
Without @ranchorelaxo he is nothing.
Nice use of wave theory on this one @haejin ... Destination shall remain the same for some time with BTC...UP!!!
Similarly in music; when rhythms that are beating at different time signatures meet up occasionally - it's called a polyrhythm.
Here'a [XVG/$] - [BTC/$]
They're normally perfectly matching but there was some variation this morning.
Interesting. Can you elaborate?
@haejin, How would you express a Hurst W cycle in Elliot Wave terms?
I'm ready for BTC to breakout.
I don’t daytrade. The only secret to making $1 Mil by day trading is to start with $2 Mil.
Can you please behave like an adult , it’s not nice to read bad words , thankyou
YOU, sociopath are afraid of getting more exposed! I can smell the fear!
WTF is wrong with you?
The price of Bitcoin makes a lot of double bottoms. Usually if the more recent bottom is lower, the price goes down. I'm hoping that the current short-wavelength pattern is a triple bottom. (3/15 then 3/18 then now). If this bottom is higher than 3/18, the price should go up. The 3/21 peak wasn't high enough to overtake the 3/12 peak so we need this extra bottom for the price to go up (prices above $8600 give me hope).
I always referred to the triangle patterns as "guitar strings". The price will go way up, then way down, then half-way up, then half-way down, "vibrate" and then settle. Usually Bitcoin breaks out towards the end of the "settling". When the stock market index does a "guitar string", it usually signals low volume and the market goes lower at the end.
I'm concerned about the volume right now. During the most recent rally, low volume meant the price of Bitcoin went up. During the crash, low volume meant the price of Bitcoin was going down. Now (low volume), I think people are waiting to see what will happen.
It will be interesting to see if infrastructure will be able to support the bull run. Remember how exchanges stopped accepting new users in December-January. If we'll see a major bull run again it will attract many new investors, and we will need them to support the bull run. I hope exchanges have mostly completed their scalability upgrades and are ready for the next uptrend.
Could take 4 more month, but yes this is a really important point !!!!!!!!
this analysis is worth a try. I hope it will be successful and exciting
The Truth. Truth always is and never isn’t.
thanks. the truth is tentative
This chart has been working pretty well since a week or so, so far..
I still like that count