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
Ethereum – in a new 18 month cycle upswing and potentially bouncing out of a new 40 day cycle trough here.
In the last note on 1 November we were looking for continued upside into a 40 day cycle peak around 1,850 at the 20 week VTL. This was exceeded and one reason is the magnitude of the 12 October low, which was an 18 month cycle trough. This means that the tailwind has been that of a young 18 month cycle, which suggests continued upside intermediate term. The 40 day cycle peak now looks to be in at 2,136 (10 November) and the underlying uptrend component has pushed it forward in time (right translated). We may have just bounced out of a 40 day cycle trough here, but it is not yet confirmed. Price could yet stagger lower to circa 1,900 and the 20 day FLD, but in any case we think downside risk is low and upside risk is high.
This post was first published on Hurst Cycles Notes.
