BITCOIN 21st APRIL 2020

BITCOIN PRIMARY & WEEKLY CYCLES

BITCOIN looks to be testing 6571 again today. 

It matches the 5-day lows and can be a robust support zone for a swing back upwards.

However, BITCOIN is following the Index markets closely, and I'm extremely bearish on those markets (read Reports).

Therefore if it breaks 6571 on Wednesday (tomorrow), the bears are back in control.

BITCOIN - ETHEREUM - XRP Crypto 19th April 2020

BITCOIN Primary & Weekly cycles

That support off 6571 last week, pretty much says, it's not going do into the April lows and not following the break & extend pattern

The only way BITCOIN goes down into those lows, is if the S&P 500 and DOW begin to sell off (read US report)

At this stage my view is to follow the Monthly Cycles and from June it goes much higher on the back of the BITCOIN Halving.

ETHEREUM Primary & Weekly Cycles

Weekly Cycles Bullish

A lot of resistance in the Primary and Monthly cycles.

Needs to move above $200 for it to rally towards the highs.

XRP Primary & Weekly cycles

Primary Support, Weekly cycles bullish

Needs to be trading above .2928 for it to take off, maybe on the back of BITCOIN

Support .175

BITCOIN & Crypto Reports 12th April 2020

Bitcoin Primary & Weekly Cycles

BITCOIN has been following the price action in the Index markets closely, and if you read my latest on the S&P and my view that it's heading lower, then BITCOIN might follow and continue lower.

However, unless it's below 6571, then it's up, but I wouldn't be surprise if it tests 6571 this week.

We saw the break on Friday and now Bitcoin is looking to move back towards 6571.

Is my original view of Bitcoin moving down into the April lows in the week of 20^th – 24^th still in play?

As part of the break and extend pattern in the Monthly cycles

We have a very similar price pattern, as last November/December. The first week has a

‘NO-CONTROL” bar, where the Weekly close is the same as the open.

4 days ago I didn’t think so, now it is certainly a possibility.

ETHEREUM PRIMARY & WEEKLY CYCLES

Ethereum Primary & Weekly Cycles

Too early to tell on what’s going to happen, but if it’s following Break and extend pattern in the monthly Cycles, then you want to be buying around the Yearly lows. AT 68.00

If it’s not going lower, then 147 is the support zone in the weekly cycles.

XRP PRIMARY & WEEKLY CYCLES

XRP has already tested the Yearly lows in 2020 and if it’s going to continue higher, then it should push up next week from .1868 to .2457.

However, if there’s a lot of selling happening in the next 10-days, then it could end up as low as .0966cents  

BITCOIN CRYPTO Report 8th April 2020

BITCOIN PRIMARY & WEEKLY CYCLES

Bitcoin didn't follow the break and extend pattern in the monthly cycles like previous times, from the March breakout down into the April lows.

Bitcoin,  instead moved higher once the resistance disappeared on Sunday.

We can see in the daily charts, Sunday failed to close below the daily lows, and Monday provided the perfect set-up for a move higher.

My view now is to follow C, up into 7948 and then support from 6914 in MAY, as it aligns with the HALVING of Bitcoin.

BITCOIN has been following the price action in the Index markets closely, and if you read my latest on the S&P and my view that it's heading lower, then BITCOIN might follow and continue lower.

However, unless it's below 6571, then it's up, but I wouldn't be surprise if it tests 6571 this week.

BITCOIN CRYPTO 5th April 2020 Report

BITCOIN PRIMARY & WEEKLY CYCLES

MARCH RESISTANCE DISAPPEARS TODAY AND IT CAN MOVE HIGHER. - SET-UP A

HOWEVER, I'M TRADING THE BREAK & EXTEND PATTERN DOWN INTO THE APRIL LOWS BY 20-24TH APRIL - SET-UP B

CURRENTLY STALLING AROUND THE SECONDARY 50% LEVEL APRIL - JUNE

BITCOIN DAILY AND LS CHANNELS (READ BOOK)

Those looking for move down to the April lows by the 20-24th, we need to see a break below 6749 (daily close today).

The rest of the Month with then be defined by 6571 (APRIL 50% LEVEL)

For those who have read my book, everyone should be familiar with these Linear "Least Square" Channels.

BITCOIN & ETHEREUM Report 1st April 2020

BITCOIN PRIMARY & WEEKLY CYCLES

I still continue to see BITCOIN going into the APRIL lows.

March Resistance will most likely continue for the rest of the week and then push lower from next week. However the resistance does disappear and it could move higher into 7875.

We still view BITCOIN is a BREAK & EXTEND pattern from March into April lows.

If we look at previous price action in BITCOIN, the downside targets normally reach in the 3rd week of the Month. Therefore we want to be looking for lows 20-24th April.

The ideal price action is for BITCOIN to move down and then swing up  - SETUP A

SETUP B

finds support then moves sideways into MAY and then drops down into the 2020 lows of 2966 and as low as 1766

ETHEREUM Primary & Weekly Cycles

Ethereum is slightly different, as it's being supported around it's MARCH lows and could swing upwards (SETUP A)

However, Support does disappear at the end of the week and with a view of going down, along with BITCOIN - SET-UP B

BITCOIN ETHEREUM REPORT 28TH MARCH 2020

BITCOIN PRIMARY & SECONDARY CYCLES

Resistance levels in  BITCOIN  (6613 - 7063) (previous Report)

After hitting resistance, I'm now leaning towards

BITCOIN moving down towards the 2020 lows.

The Break and Extend Pattern would ideally like to follow the trend lower into April's lows for the Next BUY Zone, which ever comes first.

Ideally the BEST BUY ZONE would be as low as 1786, but anywhere in between that and 2986

BITCOIN HASN'T MOVED DOWN INTO THE 2020 LOWS, BUT INSTEAD HAS STALLED AROUND RESISTANCE LEVELS FOR THE PAST 7-DAYS.

THOSE RESISTANCE LEVELS DISAPPEAR NEXT WEEK, AS WE MOVE INTO APRIL, SO THERE'S COULD BE A REASON FOR IT TO MOVE HIGHER AND UP TOWARDS 8199 (2020 50%)

HOWEVER, IF WE FOLLOW PREVIOUS PRICE ACTION IN BITCOIN IN THE WEEKLY CHARTS AND ADHERE TO THE DILERNIA PRINCIPLE OF BREAK AND EXTEND IN THE MONTHLY CYCLES, IT SHOULD CONTINUE DOWN INTO THE APRIL LOWS

NOW THAT MIGHT NOT HAPPEN FOR ANOTHER 5 DAYS.

THEREFORE, EVEN THOUGH BITCOIN CAN GO HIGHER, AS RESISTANCE DISAPPEARS, i'M STILL LEANING TO MORE DOWNSIDE

ETHEREUM PRIMARY & WEEKLY CYCLES

THE SAME APPLIES WITH ETHEREUM, IT MAY MOVE HIGHER INTO 177/186 (RESISTANCE)

HOWEVER, I WOULD PREFER TO BE A BUYER AT MUCH LOWER PRICES IN APRIL

(read previous report on Ethereum for a more detailed analysis)

ETHEREUM REPORT 24TH MARCH 2020

ETHEREUM PRIMARY & WEEKLY CYCLES

Primary Cycles bearish...(below 2020 50% level)

Secondary Cycles bearish - currently hitting resistance 50% level @ 148.44

Support around the Monthly lows.

3 possible patterns that may play out...(A,B,C)

A. sideways until April and then moves up into the next Secondary 50% level @ 171-7 and then down into the 2020 lows

B. another wave down next week into the 2020 lows

C. next BUY around the 2020 lows for a swing up towards the 2020 50% level

BITCOIN Report 20th March 2020

BITCOIN Primary & Weekly Cycles

break and extend pattern into the APRIL lows and also the 2020 lows at

2986 & 1786

Resistance levels in  BITCOIN  (6613 - 7063) (previous Report)

After hitting resistance, I'm now leaning towards

BITCOIN moving down towards the 2020 lows.

The Break and Extend Pattern would ideally like to follow the trend lower into April's lows for the Next BUY Zone, which ever comes first.

Ideally the BEST BUY ZONE would be as low as 1786, but anywhere in between that and 2986

BITCOIN REPORT 13TH MARCH 2020

BITCOIN PRIMARY & WEEKLY CYCLES

So much for BITCOIN being a safe haven.

Breakout of Monthly lows and I'm expecting BITCOIN to follow it's break and extend pattern into the APRIL lows and also the 2020 lows at

2986 & 1786

Resistance levels in  BITCOIN - 6172 / (6613 - 7063)

Keep an eye on your 5-day trading patterns