Sample note: Bitcoin - 12 October 2022
Bitcoin | Dollar
A new 80 day cycle started up in Bitcoin on 22 September. We are tracking the upswing of the first 40 day cycle in this set, which troughed at the same time and is expected to peak late October. First price needs to find the trough of the 20 day cycle which is due imminently.
Because the June low was a trough of the 18 month cycle it means that a very long cycle is rising and that the underlying trend is strongly up (similar to Gold, with which Bitcoin is correlated). This should assist the 40 day cycle advance and beyond. We then expect a shallow pullback (because of strong uptrend component baked in) into the first 40 day cycle trough in the first week of November and then further upside. The red arrows describe the preferred trajectory.