BTC $63000 weekly Update #19: The end of the Second 16M Cycle
BTC $63000 weekly Update #19: The end of the Second 16M Cycle.
Macro:
Bitcoin is near the end of the its second 16M cycle, which started in March/April 2023 and will end in June 2024.
As analyzed in previous videos, the last 16M of the 4yr Cycle tends to be the most volatile part of the market as market gears up towards its final peak.
Short -Medium Term:
60k and or the W21ema remain the pivot support going towards the end of 16M cycle.
Bulls look determined at 60k support at the moment.
Will continue to watch the 3D MACD & RSI
Once the bounce occurs and price retests 72-74k, must take profits and wait for signs of continuation.
The next MAJOR Targets ONCE $79-80k is taken out are:
$98,000-107,000
$137,000-150,000
Macro:
Bitcoin is near the end of the its second 16M cycle, which started in March/April 2023 and will end in June 2024.
As analyzed in previous videos, the last 16M of the 4yr Cycle tends to be the most volatile part of the market as market gears up towards its final peak.
Short -Medium Term:
60k and or the W21ema remain the pivot support going towards the end of 16M cycle.
Bulls look determined at 60k support at the moment.
Will continue to watch the 3D MACD & RSI
Once the bounce occurs and price retests 72-74k, must take profits and wait for signs of continuation.
The next MAJOR Targets ONCE $79-80k is taken out are:
$98,000-107,000
$137,000-150,000
