Crypto - too Early to Call a Bear

31 Mar 2018

The current daily cycle is almost complete. It has failed and will likely be left translated.

I cannot tell if this is the end of the intermediate cycle or the first daily cycle in a new intermediate cycle. The Bitfinex price chart indicates the former since the green "ICL?" indicator was not a failed cycle. I am not sure if I can trust the pricing data in this instrument.

A swing low followed by a break of the cycle downtrend line is a potential entry point.

I don't think I will take a swing at this.

2 Nis 2018

Not

Swing low in place. The new daily cycle is not confirmed until the cycle downtrend line is broken. I am not sure if there will be much upside left once that happens.

12 Nis 2018

Not

A new daily cycle was confirmed yesterday 2018-04-11. We are now 11 days into this cycle. If the cycle is at least center translated, then there should be another 20 trading days with upward bias. I am still on the sidelines.

27 Nis 2018

Not

By my count there are so far two left translated daily cycles. I think the current cycle will need to fail and drop below the last ICL low before there can be any aggressive move up (if there is another aggressive move up.)