Bitcoin & Ethereum Monthly Report 5th December 2021

 

BITCOIN YEARLY & PRIMARY CYCLES

Similar pattern in the Bitcoin Yearly (monthly bars), as the April |June quarter. (Major Sell offs)

Found support around the Quarterly Yellow levels.

I've always based this bull trend following a similar pattern as 2017 bull trend.

If it was similar, it should have tested the 50% level in the Primary at 52,582, bounced and closed higher going into December. 

It has done the opposite and now below those levels, which didn't happen in 2013 or 2017.

Therefore, I'm not sure that BTC is going to go higher, whilst it's below the December levels of 53-55k.

However, it doesn't mean it can't consolidate into the end of the year, whilst ALT coins rise into the end of the Year.



ETHEREUM YEARLY & PRIMARY CYCLES

Yellow support at 3648 and positioned well going into the end of the year.

It also remains in a Break and Extend pattern in the Yearly Cycles, so I would expect price to close around 4570 or above.

What we want to see it price pushing higher from 4570 at the start of January and not stalling and reversing down