It will be mostly pictorial, this is because of the present analysis.
The chart we will be using is from Coinbase, Weekly time frame and Heiken Ashi candles. We will be using the Time cycle tool to make some deductions(nothing is 100% accurate, worst still in an emotionally driven market).
1. From 2014 to 2017, each time we are at the Trough (green vertical lines), we had a 100% chance of getting a good bargain: meaning we are buying at a lower price( [isn't that what we all want :)?] .
5. Like in the previous two troughs, the larger time cycle indicated a high. This time a high was also at that trough(first purple vertical line), however, the price moved to a new ATH thereafter (Second purple vertical line), which happens to be the intersection between the blue and red time cycle.
6: After that we saw that the trough at the green ink time cycles marked a low (first green vertical line). Also, the intersection between the green ink time cycle and red ink time cycle marked another low (second green vertical line), before the mark up phase.
