Imminent Big Bitcoin Bounce or Trounce
We are right inside one of the most important time cycles since February 5th. In fact, this time cycle we are in is more important. The information below will explain, in detail, why that is. In a nutshell, we are hovering above both the long-term upper and lower trend lines.
This week is certainly going to be very telling. It’s going to tell us, each day we get closer to the end of this month, if we are going to reverse into a new bull move or if we are culminating and then continuing a very bearish move. However, the bias is still bullish. From a Gann perspective, we need to take a look at these dates and confluence zones.
Important Days, Dates, Counts and Prices
- Monster confluence zone in time – this is a period of time that extends over a period of days. It is filled with various triggers dates and zones before the cycle is completed. Each one is like loading a gun.
- March 17th – New Moon phase begins – high probability of markets to trade lower during this moon phase.
- March 18th – Midpoint of a Gann time cycle, an important square in time. More importantly, a 90-day time cycle ends (90 days from the all-time high). It is the most powerful division of the one-year cycle. 90 days up or down will usually start a countertrend movement and/or reverse a trend. Against extreme momentum and/or pitch, can go to 99 days.
- March 24th – The long-term uptrend and downtrend lines intersect.
- March 28th – 99th day in the extended Gann cycle (99 days from the all-time high).
- March 28th – Fibonacci time pivot.
- Marching 31st – Full moon phase begins – high probability of markets to trade higher during this moon phase.
- Important Price Levels
- 6800 – Long-term uptrend line from the swings lows set back in July of 2017.
- 7500 – Next most important Harmonic support level.
- 10088.79 – 8804.12 – the price area represents the completion of Bullish Shark Gartley Pattern based on the appropriate Fibonacci levels. On the long-term chart, starting from the value are of the all-time high.
- 7531.19 – 7128.62 – the price area represents the completion of a Bullish Bat Gartley Pattern based on the appropriate Fibonacci levels. Based off a short-term swing low that was shown on March 18th.
So what does this all mean?
Simply put, based on technicals there is an impending reversal coming. And it’s coming soon. There is a myriad of the culmination of time and price coming into play. And the great majority are bullish. But is there a threat to the downside? You bet. As long as price remains above the long-term uptrend line, we can and should be bullish, it’s that simple. But if we fall below that line, we need to be cautious. If we get a weekly candlestick that trades entirely below that trend line, then we know we are in a new panic cycle and we could see sub 3,000 prices.