So far, Bitcoin is following the 65 daily cycle perfectly. Ofcourse, not all cycles end in exactly 65 days, but it gives you a good idea as to when a bottom may occur.
The last green arrow was placed at day 65 from the bottom. I believe the bottom was found at day 63 for 3 reasons:
- The price was close enough to day 65
- Bitcoin created a hammer candle, which is bullish
- The hammer candle was found close to day 65 and the price closed above the green support zone. Right now the price bounces off of that zone.
The last green arrow was placed at day 65 from the bottom. I believe the bottom was found at day 63 for 3 reasons:
- The price was close enough to day 65
- Bitcoin created a hammer candle, which is bullish
- The hammer candle was found close to day 65 and the price closed above the green support zone. Right now the price bounces off of that zone.