Bitcoin – Is it Time to Buy? Time Cycle 58 DaysNov 17, 2021
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Crypto currency has been in news given the sharp rise in many of the crypto coins. Are you riding the trend?
A simple way to enter into Crypto currency like Bitcoin is to identify the days when the prices can reverse from down to up. Time tools are simple and effective way to time the trades or investments.
Let us see when will be time in favour to invest in Bitcoin.
Bitcoin Daily chart – 58 Days Time Cycle
Time Cycle analysis:
J. M. Hurst known as the father of cycles have done a lot of scientific work not only in space of physics but also in the application of Cycles on stock market. He identified a set of nominal cycles that is working across the scientific field and can be extended to the cyclicality of freely traded assets as well. We will not dwell into the theory as of now.
We have applied 58 days Time Cycle which is in close approximation to the Hurst’s Nominal cycle of 56 days on BTC/USD. The same looks to be working extremely well and we can see everytime prices formed a bottom on this cycle day on most of the occasions.
A few of the Time cycle helped prices to more than double in just a few weeks of time. This is the power of understanding when Time is in favour for investment or trading.
Next low as per Time Cycle on Bitcoin is near 12th December 2021. This clearly suggest that time will favour post 12th December. It is also possible to forecast price by using Time and it is an innovation by Hurst in field of Technical analysis.
So, now that the time will be in favour post 12th December it is possible to form a strategy accordingly for trading this crypto currency.
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