BITCOIN PRIMARY & MONTHLY CYCLES
When we look closely at Crypto, you soon realise price is being driven by the Secondary Cycles, or as most know it as, the Quarterly Timeframes.
Price Tested the Monthly lows (RED), but the weekly timeframe closed below and it has remained below it for the rest of the month.
June has started and that resistance has now disappeared.
Therefore if you are long #Bitcoin there is a larger cycle in play that can see price push much higher in the 3rd quarter.
Short-term in this month, there is a potential break and extend pattern from MAY into JUNE lows (RED), that could see another push down to 28k - 31k, but it will done over a matter of days and spring upwards once again.
This current reversal down in MAY is an opportunity to add more positions and continue to HODL for the long term.
ETHEREUM
There's a big difference in the Cycles compared to BITCOIN.
Ethereum would be trading below 1,431 if was the same at BTC.
ETHEREUM is setting up for much higher prices in the 3rd Quarter.
It might have a hard time moving above 3,051 over the next 2 week's but above it as we come into the end of the 2nd Quarter can help push ETH upwards.