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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Bitcoin is trading close to it's all time highs just above $60000. A look at the price cycle structure, suggests the coin has recently entered a new medium-term bull phase. Looking at the Hurst cycle approach, the key points to note are:
- A new 20W(140D) cycle appears to have started Mar 25. This date therefore also marks the end of the previous 20W cycle.
- If correct, it suggests that a fresh bullish wave is likely as the respective cycles play out during the first of two 80D cycles that will complete the current 20W phase.
- Since Mar 25, two 10D cycles have reached their trough marking the end of the first 20D cycle. The current 20D cycle is rising and reinforces a short-term bullish theme.
- Key near-term support to watch is at $55240.00, Apr 7 low and $50483.00 Mar 25 low. These levels highlight risk parameters for bulls. A break would signal a short-term reversal.
- The current cycle positions is:
- 10D - Rising
- 20D - Rising
- 40D - Rising
- 80D - Rising
- 20W - Rising
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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