BITCOIN PRIMARY & Weekly Cycles
BITCOIN should continue higher into the MAY highs 9898 and then reverse back down into Support levels.
Support levels 2020 50% level @ 8225 (previous)
BITCOIN is now back into the Support levels and the 2020 50% level at 8225
There was a very high probability it was going to come back into Support, but sometimes we forget how volatile BITCOIN is and quickly it can move.
BITCOIN still remains in a Primary Bull trend and Bitcoin-Halving happens this week, with everyone expecting BITCOIN to move much higher.
If BITCOIN is going to remain bullish, it needs to consolidate above 8225 and then push higher in June
As mentioned in the Previous post....
Over the next 12 months, we're all presuming the BITCOIN is going much higher, therefore you want to be BUYING the DIPS
Those DIPS will always be the YELLOW LEVELS in the monthly time frames.
The Yellow is currently at 7457 in MAY, but then it's at 8630 in JUNE.
Please note:- the last sell-off occurred in MARCH and it may Happen again in June.
We also haven't tested the Yearly lows in BITCOIN - 2924
Therefore, as much as we all expect BITCOIN to RISE after Halving, please be aware that it can do the opposite of what people expect.
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PLEASE NOTE THAT ETHEREUM & XRP are back below those support levels