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