Cycle Trading

In Pursuit of Bottoms …

Bitcoin Breakout

Posted on April 11, 2023 by likesmoneystudies

GBTC had been consolidating for the past 3 weeks — until Monday.

GBTC broke bullishly out of consolidation on Monday. However it formed a bearish reversal on Tuesday. Tuesday was day 39, placing GBTC in its timing band for a DCL. Typically, breakouts that occur in the timing band of a daily cycle decline are not usually sustained and often any gains are given back. A swing high and close back in the consolidation zone would signal the daily cycle decline.

Raise Stops — Again

Posted on January 7, 2021 by likesmoneystudies

Stocks once again broke above a consolidation zone.

Stocks are in a daily uptrend that has been characterized by highs forming above the upper daily cycle band and lows forming above the lower daily cycle band — and more recently lows forming above the upper daily cycle band. Closing above the upper consolidation box allow us to move stops to the top of the upper consolidation zone.

And there’s nothing wrong with that picture …