Bitcoin printed its lowest point on Sunday, day 38, placing BTC squarely inside its timing band for a daily cycle low (DCL).
BTC rallied on Monday and then formed a swing low on Tuesday, suggesting downside momentum is easing. However, price remains below the converging 10 day and 50 day moving averages, keeping the DCL unconfirmed.
A close above both the 10 day MA and the 50 day MA would confirm day 38 as the DCL.
BTC is currently in a daily downtrend. Bitcoin will remain in its daily downtrend unless it can close back above the upper daily cycle band, which would signal a trend shift and open the door to a sustained rally attempt.
Takeaway
- Bitcoin is inside the DCL timing window, but confirmation is still needed.
- Reclaiming the 10 day and 50 day moving averages is the key near-term hurdle.
- Until then, this remains a counter-trend bounce within a daily downtrend.
Cycle Trading 
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