Bitcoin Market Cycles - 30th January 2023
Bitcoin forms the 18 month nominal low as anticipated in early November. As amplitude returns to the 80 day component, clarity also returns to the phasing. We take a look at the current status
Essentials: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend | Time Frequency Analysis
Analysis Summary
After the capitulation move down in early November 2022, typical of the late stages of a bear market and alluded to in our last report, Bitcoin has accumulated slowly then regained bullish momentum, courtesy of the 18 month nominal low. Anticipated for several months, this 18 month component low is now a fascinating element for us to study and trade as we examine the status of the underlying trend. The first move up doesn’t tell us too much, aside from the fact the 18 month low has most probably occurred and amplitude has returned to the shorter components. What will be more telling is the move from the next 20 week nominal low (due late Feb / early March) and the peak of the 40 week component, due in April.
Price is near our interim target of 25000, specified in the last report and close to the 18 month FLD (sho…