Overview:
My last post on BTC was published on April 22nd and at that point I had the idea that BTC has completed a wave (1) from the November 2022 lows and expected a wave (2).
In the last update to that post (August 19th), I had wave (2) completed and expected a rally to the 35000 zone as wave (c) of I of A of (3).
Update:
Analysis of the Structure:
We are in wave III of (c) of I of A of (3).
Analysis of the Cycles:
First of all, note that a cyclic analysis on BTC that is based on synchronized troughs is controversial as some experts in this field believe that BTC has synchronized peaks instead of troughs. Since I do not really trade BTC, I had no research to see which one is actually the case. So, I am assuming synchronized troughs for BTC.
We are in second 20D cycle of first 40D cycle of second 80D cycle of first 20W cycle of second 40W cycle of the current 18M cycle.
Some important dates/major troughs to remember are as follows:
1. 40D cycle trough: 15th to 21st of October 2023
2. 20W cycle trough: 17th to 29th of November 2023
3. 18M cycle trough: May 2024.
My last post on BTC was published on April 22nd and at that point I had the idea that BTC has completed a wave (1) from the November 2022 lows and expected a wave (2).
In the last update to that post (August 19th), I had wave (2) completed and expected a rally to the 35000 zone as wave (c) of I of A of (3).
Update:
Analysis of the Structure:
We are in wave III of (c) of I of A of (3).
Analysis of the Cycles:
First of all, note that a cyclic analysis on BTC that is based on synchronized troughs is controversial as some experts in this field believe that BTC has synchronized peaks instead of troughs. Since I do not really trade BTC, I had no research to see which one is actually the case. So, I am assuming synchronized troughs for BTC.
We are in second 20D cycle of first 40D cycle of second 80D cycle of first 20W cycle of second 40W cycle of the current 18M cycle.
Some important dates/major troughs to remember are as follows:
1. 40D cycle trough: 15th to 21st of October 2023
2. 20W cycle trough: 17th to 29th of November 2023
3. 18M cycle trough: May 2024.
