BITCOIN & ETHEREUM PRIMARY CYCLES.
BITCOIN HAS COMPLETED THE BREAKOUT AND EXTEND PATTERN FROM NOVEMBER RED INTO DECEMBER HIGHS RED.
THIS IS OFTEN A RESISTANCE LEVEL AND CAN REVERSE DOWN.
ANY RESERVE DOWN CAN OFTEN BE 30-35%.
IN THE LAST BULL RUN, THERE WERE 6 X 35% DROPS, EACH DROP WAS INTO THE YELLOW AND THEN THE NEXT TAKE OFF OCCURED.
MY SUGGESTION IS IF THIS HAPPEN, ADD POSITIONS AROUND THE TRAILING YELLOW FOR THE NEXT 12 MONTHS.
ETHEREUM
BREAK AND EXTEND PATTERN IS TOWARDS 760-814.
IF PRICE THIS WEEK IS BELOW $590, MY OPINION THE DOWN MOVE IN BOTH BITCOIN AND ETEREUM WILL BE ONLY 1 WEEK, OR AROUND $530 AND THEN FROM THE WEEK OF 13TH DECEMBER WE BEGIN THE NEXT MOVE HIGHER.
WHILST ABOVE $590, THE TREND IS STILL GOING.
THEREFORE
THERE'S A LOT MORE UPSIDE IN BOTH.
IF THERE'S WEAKNESS THIS WEEK, I DON'T THINK IT WILL BE A 35% DROP .
I THINK IT WILL BE BACK TOWARDS THE 5-DAY LOWS AND THEN THE NEXT LEG UPWARDS OCCURS FROM THE FOLLOWING WEEK
BITCOIN 25-26K
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