ΣL Bitcoin Composite - 10th June 2024 | @ 84 Days | + 12.94%
Last trade: + 12.94% | 'B' class signal detected in Sigma-L Bitcoin Composite (BTC vs USD/EUR/GBP). Average wavelength of 84 days over 13 iterations since April 2021. Currently peaking
ΣL Cycle Summary
Some welcome clarity returned to this component as we moved higher through May after the larger underlying bullish trend pulled back into April, completing the most recent cycle trough of this wave. We have tentatively upgraded this signal to a ‘B’ class category, anticipating a period of stability which will be further enhanced if we move down to test and break the price trough of this wave, matching the amplitude we have seen in the up leg or perhaps exceeding it. As can be seen from the time frequency spectra below, the wave is now dominating the bandwidth below 100 days after being previously fairly hard to clarify in the period up to June 2023 from the sample. This was due to higher frequency components.
Trade Update
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous report for this instrument, linked below.
Type: Early Buy - ΣL Bitcoin Composite - 19th April 2024
Entry: 19th April, 2024
Exit: 10th J…