This chart illustrates super-cycle wave 1 and 2 of the Bitcoin lifecycle. Grey dots indicate Kennedy channel loci (selected using the orthodox method) and Grey circles indicate interaction with an extant (still active) channel boundary. I propose that the Grey circled locations serve as critical junctures which are deserving of attention as they typically signify/confirm major modal shifts in the market. As is apparent from this chart, the first two channel strikes (v & w) denoted sub-waves 3 and 5 of macro wave 3. The next strike occurs at 'x' which confirms the higher-degree W4. Finally the strike denoted as 5, as is typical for a W5 termination corresponds to a strike of the underside of the acceleration channel. You may wonder about the relevance of these observations: They apply at *every* degree i.e. I should expect the macro Base channel established by the Oct '10 low, the Dec '17 high and the Dec '18 low to manifest similar confluence going forward. I'll cover what this looks like so far in part II.
