BITCOIN PRIMARY & MONTHLY CYCLES
Great moves in all the coins during the month of MAY, with BITCOIN completeing the move into the Yearly 50% level @ 8050USD (EXIT)
I'm now on the sidelines on BITCOIN, but holding a number of other COINS that are still lagging behind with the same price action, of rotating into the Yearly 50% level. (read previous reports below)
HOW DO WE TRADE BITCOIN NOW?
The expectation is that this BULL CYCLE will continue to new highs until 2020, wth the 1st Target $15012, which may reach this year. (4th Quarter) and then new highs early next year.
BULL CYCLES move in 4 year cycles, therefore, there's still an expectation that the UPSIDE will still continue until 2022, with some suggesting that $51,000 is the target based on previous moves in BITCOIN throughout it's History.
In the SHORT TERM, if you subscribe to this theory, then we need to be BUYING the DIPS.
I'm hoping there will be dips and not a PARABOLIC move to 15012.
Short term Support resides around the JUNE 50% level.
LONG TERM SUPPORT will always be the 3-month trailing lows during the next 3 years.