You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology
Bitcoin – minimum of 80 day cycle trough awaiting confirmation.
Bitcoin has potentially just capitulated in a sharp down-up sequence into key support and potentially the 80 day cycle trough. An upside breach of the down sloping 20 day VTL circa 26,370 confirms the 40 day cycle trough which at this stage of the cycle also confirms the 80 day cycle trough. This trough could also be a 20 week cycle trough, but we are playing it more conservatively for now. We need to see the VTL broken through to confirm, so wait for that. The 40 day cycle peak is expected in the first or second week of October above 28,000. After that, all going well, we will start looking for the 80 day cycle peak higher.
This post was first published on Hurst Cycles Notes.
