BTC - Relation to Economic Confidence Model
This will be an analysis I hope to continue over the next few months, as it is currently well above my understanding.
To have a fundamental understanding of what this chart means, I highly recommend reading this article by economist Martin Armstrong. The cycles relevant to this chart are found on page 25.
www.armstrongeconomi...martin-armstrong.pdf
I've broken down each 'cycle' of Bitcoin -0.64% into 4 overall trends that contribute to a supercycle. These trends are not relevant to price action. They are more relevant to passage of time and the effect on overall momentum / direction the price is moving, if that makes sense.
I am not predicting anything by this, just merely pointing out that the # of trends fits too perfectly to be coincidental. The months that BTC -0.64% is in these trends tends to be the same throughout the length of the 2 cycles illustrated above.
If the time theory holds true, we will now be starting a new Trend 1 that will bring us until May 2019. Again, note that this does not mean we are either bearish or bullish until then, but is suggesting the length of the trend to be until that point in time.
I will update this as it develops. The Armstrong article fascinates me.
Also, guess how many years 784 days is .... 2.15 :)
To have a fundamental understanding of what this chart means, I highly recommend reading this article by economist Martin Armstrong. The cycles relevant to this chart are found on page 25.
www.armstrongeconomi...martin-armstrong.pdf
I've broken down each 'cycle' of Bitcoin -0.64% into 4 overall trends that contribute to a supercycle. These trends are not relevant to price action. They are more relevant to passage of time and the effect on overall momentum / direction the price is moving, if that makes sense.
I am not predicting anything by this, just merely pointing out that the # of trends fits too perfectly to be coincidental. The months that BTC -0.64% is in these trends tends to be the same throughout the length of the 2 cycles illustrated above.
If the time theory holds true, we will now be starting a new Trend 1 that will bring us until May 2019. Again, note that this does not mean we are either bearish or bullish until then, but is suggesting the length of the trend to be until that point in time.
I will update this as it develops. The Armstrong article fascinates me.
Also, guess how many years 784 days is .... 2.15 :)
Comment:
Update - Since the post, we have tested bottom support, and began what looks like an attempt at an uptrend. While the price action will be determined in time, the cycles themselves appear to be on point.
Trade closed: target reached
Eric Thies