Bitcoin: Hurst Cycles - 22nd Feb 2022
BTCUSD | Phasing Analysis Update, Outlook & Trading Strategy
Components greater than and including the 18 month nominal cycle
Components less than and including the 18 month nominal cycle
Components around the 80 day nominal cycle
We left Bitcoin at the peak of the 40 day nominal component at the last report, anticipating a move to the 40 day nominal low which is now upon us, give or take a 10 day nominal cycle.
We are likely peaking from the first 20 day component of the 80 day component here. It may well also be the 40 day nominal peak. There is a bearish FLD cascade below price which ends at the 40 day nominal FLD level around 38000 and so that is our target for the end of the month.
The target of 38000 was achieved and overshot. Price is generally tracking the 80 day FLD as shown in the medium term chart.