BTCUSD Bitcoin in July and August
This is a follow-up on my previous idea. We can see that even though June was a "green" zone, it did not go up as strongly as I had anticipated it might. But it did go up more strongly at the end where the shorter green zone coincided with the end of the 30d green zone. According to my chart of time periods, we are now entering a red zone. There are longer cycles at work as well, which must explain why June was still relatively a weaker month, even though in the 30d green zone.
Remember that there are more than one set of cycles working at time, there are many. In the case of June, the longer-term downtrend more or less overpowered the uptrend of the green zone. But if it were a 30d red zone, it is likely that it would have crashed more. I still do expect some upside coming before the end of 2018, but the concerning thing that we are entered the red zone of 30d starting around July 5. The shorter 8-9 d cycle is now entering in a red zone. I expect this means weakness until the beginning of August. It still depends on when exactly we are turning the corner of the longer-term trends though. Please see my previous ideas on long-term bitcoin.
Unfortunately it does not answer all our questions, but it still is a useful guide to watch out for the turning points.
My personal opinion is that between now and the first week of August we have buying opportunities. The stages of the cycles can be a guide for the best entry point.
This is not advice to buy or to sell. You should do your own research and make your own investment decisions.
Please click like if you like the idea and please feel free to give your comments.
Remember that there are more than one set of cycles working at time, there are many. In the case of June, the longer-term downtrend more or less overpowered the uptrend of the green zone. But if it were a 30d red zone, it is likely that it would have crashed more. I still do expect some upside coming before the end of 2018, but the concerning thing that we are entered the red zone of 30d starting around July 5. The shorter 8-9 d cycle is now entering in a red zone. I expect this means weakness until the beginning of August. It still depends on when exactly we are turning the corner of the longer-term trends though. Please see my previous ideas on long-term bitcoin.
Unfortunately it does not answer all our questions, but it still is a useful guide to watch out for the turning points.
My personal opinion is that between now and the first week of August we have buying opportunities. The stages of the cycles can be a guide for the best entry point.
This is not advice to buy or to sell. You should do your own research and make your own investment decisions.
Please click like if you like the idea and please feel free to give your comments.
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