BTC has been consolidating in between the 10 day MA and 50 day MA — until Friday. BTC was rejected by the 10 day MA on Friday and went on to close below the 50 day MA. With a peak on day 4, this sets BTC up for a left translated daily cycle formation. A break below the day 59 low of 100418.61 will form a failed daily cycle. However, Bitcoin currently is not delivering any bearish follow through.
Bitcoin is currently in a daily uptrend. A swing low with a close above the converging 10 day MA and 50 day MA will indicate a continuation of its daily uptrend and signal a cycle band buy signal — setting the bear trap. A break above 106559.45 will form a swing low.
Cycle Trading 
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