Bitcoin cycles point to bottom

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Photographer: Moe Zoyari / Bloomberg

© 2021 Bloomberg Finance LP

Predicting the price of cryptocurrencies is a bit difficult due to the short price history. There may not be enough data points to generate precise cycles. For example, we don’t have enough data to exploit seasonal trends. After some testing, I think the weekly and monthly cycles below are currently the most informative. The Grayscale Bitcoin Trust data series is used in this analysis.

The weekly cycle was the most accurate for buy signals. All six buy signals have been profitable over the past year. Weekly and monthly analyzes show that the 52-day cycle was the most accurate. The weekly cycle has hit a low. The monthly cycle hits a low at the end of this month.

The 16th, tomorrow, is a projected turning point (PTP). Such points are generated by measuring the time periods between past highs and lows. This PTP confirms the weekly cycle low.

The 44-46 level is a reasonable price target.

Weekly cycle

The precise weekly cycle is now reaching its minimum level.

Cycles Research Investments LLC

Monthly cycle

The monthly cycle hits its lowest at the end of this month.

Cycles Research Investments LLC

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