BITCOIN SECONDARY CYCLES
Currently stalled at 9700 (below the Secondary 50% level)
If we are simply looking at 'Normal TEXT BOOK' Patterns, then there is a suggestion that it's moved up and retested the lows of the Previous support zones and failed, which matches the Secondary Trend's 50% level @ 9700
It should now continue lower???
However, if we follow the Dilernia Principles of Primary Trends - 2 to 4 years higher, then we're expecting more gains.
Long Term forecasts was for BITCOIN to continue higher into the end of the year and 2020, whilst at the same time acknowledging it had to continue up in early November, not break 8900 because of the failure at 9700
Looking at the price action now compared to 2018, we are in the same position that may result in another breakout of the Secondary lows and continuation down into the DECEMBER LOWS and next BUY zone
However, there could be another counter-trend move back up into 9300, but I'm not BUYing at this level today