BITCOIN Primary & Weekly Cycles
Sequential ordering of pattern formations #
1. Apply the trend identification Model.
2. Identify support, resistance, and trends
3. Identify the change of support & resistance with the use of Time.
4. Forewarn & foretell the likely events when certain price action occurs now or in the future.
If you go over my posts over the year, I identify key Support & Resistance levels and then introduce timing parameters to make decisions on whether to BUY, SELL or sit out
BUY December Lows 2018
NEW up trend to begin in March 2019
Exit Yearly 50% level @ 8050
New BUY around the 1st Week of August
And Last week's report - Support 8050 & look for the week of 7th October for potential next move higher.
Even though it didn't go down to the level of low 7,285, it was the other factors in play confirmed with the 5-day breakout yesterday, even though I took the punt and bough back in before the break @ 8200.
Forewarn & foretell the likely events when certain price action occurs now or in the future.
I would think BITCOIN will try and move towards 9700... and hopefully continue higher as part of a 2 year trend towards new highs in 2020
However, 9700 will be seen as a resistance zone
And 8050 is the support zone