BitcoinShort
BTC all time index Time analysis
The chart illustrates a consistent 30-bar (210-day) cycle observed in Bitcoin's historical price action, showcasing repetitive bullish and bearish phases. The current cycle, marked with a 15-bar (105-day) duration, suggests that the market is at a pivotal point, aligning perfectly with the ongoing pattern.
Key Observations:
Historical Cycles:
Each 30-bar cycle historically led to either a significant rally or a reversal. Volume and price action support these cyclical movements.
Current Cycle:
The current phase is 15 bars into the cycle, representing half of the standard 30-bar period. This mid-cycle point often coincides with significant price movements.
A sharp reversal is anticipated based on historical patterns.
Support Level:
Immediate support is identified near $75,250, with potential for a retest before a broader move materializes.
Projection:
If the historical pattern holds, a downside target of 0.5 (relative to the cycle's peak) is expected, suggesting potential correction or consolidation from the current bar.
Key Observations:
Historical Cycles:
Each 30-bar cycle historically led to either a significant rally or a reversal. Volume and price action support these cyclical movements.
Current Cycle:
The current phase is 15 bars into the cycle, representing half of the standard 30-bar period. This mid-cycle point often coincides with significant price movements.
A sharp reversal is anticipated based on historical patterns.
Support Level:
Immediate support is identified near $75,250, with potential for a retest before a broader move materializes.
Projection:
If the historical pattern holds, a downside target of 0.5 (relative to the cycle's peak) is expected, suggesting potential correction or consolidation from the current bar.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.