Bitcoin is still the market king. Despite my long-held suspicion that it would yield to a more worthy competitor in the crypto space, it has not yet done so. When BTC rallies, everything rallies. When it falls, everything falls. This makes little sense to me, but it has been the case for a long time, and remains the case today. So, what do we expect to happen next?
As mentioned in our last update, BTC has crossed several time factors suggesting that a reversal is due in the very near future. (Indeed the reversal may have already begun.) It has been 89+ days since the high, 72 degrees have passed since the 1/6/18 high, 60 degrees have passed since the 1/17/18 low. Most importantly, 90 degrees have passed since the 12/17/17 ATH.
Price has found support at an arc and bounced rather nicely (blue arrows). This lends great support to the time cycle analysis suggesting a turn is due.
The chances of this being a turning point are VERY high, in my opinion.
BCH has found support at a key support at a 5th ap as it approaches an Energy Point later today. My suspicion is that the energy point will paint a long green candle, but we will have to wait and see.
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