Eric123

Bitcoins price has spent 43 Days above the Long Term Down Trend Line, and Today is the second day above the Short Term Down Trend Line. These lines should support for any possible down turns which I doubt are coming. Looks like the most likely scenario is sideways and up price action. XRP's recent move is encouraging.

Also Bitcoin's Hash Rate is the second highest it has ever been. Highest since the halving.

Bitcoin's price is Breaking the Short Term Down Trend. As The daily price has been above the Long Term Down Trend Line for 42 days and as mentioned in yesterday's post the 200 Day EMA has also broken the Long Term Down Trend. In the previous cycle the Longer Term Down Trend Line which most equates to where we are now is on the chart below. In November 16, 2016 the 200 Day EMA also broke the Long Term Down Trend Line after the Daily price had been above the Down Trend Line for 42 days. The price was in the 700's at that time. Two months later the price re-took the ATH.

Bitcoin's Price Action. Bollinger Bands are very tight and getting tighter. The 200 Day EMA just made a Bullish Cross of the Long Term Down Trend Line. The price is right at the Short Term Down Trend Line. As you can tell if you've been following my posts for any amount of time, one of the main things I utilize to determine the direction which the price is headed is the Exponential Moving Averages breaking key Trend Lines. To me the 200 Day EMA movement is a very bullish indicator.

Bitcoin's price has had 40 closes above the Long Term Down Trend Line and 6 Weekly Closes above that line. The 200 Day EMA will also cross that line tonight.

I think Bitcoin is generally following a similar pattern to the last cycle which would put us a point the equivalent of Midish 2016. Expecting that Bitcoin Retakes the ATH sometime by the end of the year then start it's gradual run leading to a parabolic top in a year or so (12-16 months). XRP really only had one cycle - basically it seems that XRP has long periods of just flatlining followed by explosive growth. Just waiting on the explosive growth.

Bitcoin' Price has been above the Long Term Down Trend line for 39 Days. The 200 Day EMA is going to break the Long Term Down Trend Line tomorrow. Hash Rate is at the third highest level ever. I expect the Long Term Down Trend Line to provide support so I do not expect that the price will fall below that line.

Forgot to mention Hashrate is 131 Exahashes. Highest since the halving and Second highest ever.

Bitcoin's price is marching along. Nothing really new to report here.

Same Sideways Movement. Next event will be the 200 Day EMA making a bullish cross of the Long Term Down Trend Line. Should happen around July 8th.

I cleaned up the chart. Well Bitcoin closed out the month above the down trend line for the second month in a row.

Ugh was hoping that $300 million would fuel a big move. Thanks @strikerjax

Bitcoin's price has been above the Long Term Down Trend Line for 34 days. The monthly price will close above the Monthly Down Trend Line tonight , for the second month in a row, if the price stays above $8,500 which I assume it will. The bollinger bands are starting to tighten again on Bitcoin and basically all of the coins. Still waiting on our big move. A day ago $300 million tether was moved to Binance. So maybe something is brewing.

Bitcoin's price has now spent 33 Days above the Long Term Down Trend Line on the daily chart and the 200 Day Exponential Moving Average is now crossing above the Down Trend Lines on the Monthly and Weekly charts. On the Weekly Chart Bitcoin's price has had 5 weekly closes above the Long Term Down Trend Line. The month closes out tomorrow and it looks like we will get our second monthly close above the Monthly Down Trend Line.

Bitcoin's price has spent 32 days above the Long Term Down Trend on the Daily Chart. Even with the latest assault on the price - down 10 of the last 12 days, the price is still above the Long Term Down Trend on the Daily, Weekly and Monthly Charts. Weekly will be closing out later this evening at 8 pm - Eastern USA Time and the Monthly will be closing out Tuesday at 8 pm. I expect that the price will remain above the downtrend lines. Bollinger bands have been moving down but generally it has been sideways action between 10k and 9k since - May 27. Still looking for our break out.