BITCOIN & ETHEREUM REPORTS - 1ST NOVEMBER 2020

 

BITCOIN PRIMARY CYCLES

WE'VE SEEN BITCOIN RALLY SINCE MY PREVIOUS REPORT AND NOW TRADING ABOVE THE 2020 HIGHS OF $13529

THIS IS NOW IN A PRIMARY CYCLE BREAKOUT ZONE, WITH AN UPPER TARGET OF $17561 IN NOVEMBER.

HOWEVER, WE HAVE SEEN MULTPILE TIMES, WHEN THERE 'S A BREAKOUT IN THE MONTHLY (RED) IT CONTINUES INTO THE NEXT MONTHLY HIGHS AND THEN REVERSES DOWN.

THIS MAY STILL HAPPEN THIS WEEK, AND IF IT DOES IT WILL BE A QUICK MOVE DOWN TO $12768 AND IN MY OPINION, THEY WILL BUY IT BACK UP  TO THESE SAME NOVEMBER LEVELS.

A BULLISH SCENARIO WILL SEE AN EARLY PUSH UP THIS WEEK TO $14459 - $14600

ETHEREUM PRIMARY CYCLES

THE KEY LEVEL IS $385 WITH A NOVEMBER TARGET OF $464.

A BREAKOUT OF $464 ON THE BACK ON BITCOIN MOVING TOWARDS 17K IS $590

HOWEVER, A RETEST OF $365 IS STILL A POSSIBILITY.

$333 IS THE 2020 HIGHS, THEREFORE WE ARE IN A PRIMARY CYCLE BREAKOUT, WITH AN EXPECTATION PRICE IS MOVING TO NEW HIGHS IN 2021

BITCOIN & ETHEREUM REPORT 9th OCTOBER

 

BITCOIN PRIMARY CYCLES

BOTH BITCOIN & ETHEREUM ARE ABOVE KEY PRIMARY CYCLES LEVELS AFTER SPENDING THE PREVIOUS YEAR IN BEAR CYCLES

BY FOLLOWING THE DILERNIA PRINCIPLES, THERE'S AN EXPECTATION THAT BEAR MARKET REVERSALS CONTINUE HIGHER FROM THE CURRENT YEAR & INTO NEW HIGHS THE FOLLOWING YEAR

THESE TRENDS OFTEN BEGIN IN THE LAST QUARTER OF THE YEAR AND CONTINUE TO NEW HIGHS AT THE START OF THE NEW QUARTER I.E  2021 HIGHS.

BY USING WEEKLY REGRESSION TOOLS WE ARE NOW LOOKING FOR CONSOLIDATION ABOVE THE OCTOBER LEVEL 10680 AND THE CROSS OVER ON THE BLUE LEVEL IN A COUPLE OF WEEKS

THAT MEANS - 2020 HIGHS AT $13529 AND THEN NEW HIGHS IN 2021

ETHEREUM PRIMARAY CYCLES

ETHEREUM IS ALREADY ABOVE ITS 2020 HIGHS $333 AND IT'S FORMING A ROBUST SUPPORT ZONE.

TIME IS NOW CATCHING UP WITH PRICE AND I'M STARTING TO LOOK FOR MOVES ABOVE THE YELLOW AT 355-64

SURE TIME CAN CATCH UP WITH PRICE AND PUSH IT DOWN TOWARDS $273......BUT??

THE PRIMARY CYCLES OF MOVING FROM A BEAR TO BULL, I'M FOLLOWING THE 2-WAVE PATTERN TO NEW HIGHS IN 2021