Cycle Trading

Bitcoin broke below the day 54 low Thursday to extend its daily cycle decline.  That

was day 59, placing Bitcoin deep in its timing band for a DCL.  Bitcoin found support at the rising 50 day MA on Friday then closed above the 10 day MA on Saturday.  Bitcoin delivered bullish follow through by forming a swing low on Sunday and rallying higher on Monday, so we will label day 59 as the DCL.  Bitcoin is currently in a daily uptrend. Bitcoin will remain in its daily uptrend unless it closes below the lower daily cycle band.