Blocksmith Says: BTC Grinding Lower

Because Bitcoin has event driven forces working in the background, the cycles analysis has been disrupted by fundamental price shocks. Typically when this happens, for example a big earnings surprise, a pandemic, a shock interest rate change and such like, the cycles get jolted but then fairly quickly resume their cadence.

The current 80 day cycle trough zone – the stack of circles and whiskers directly below last price  – is more or less random. However, if we shift our gaze forward, we can see that an 80 day cycle peak is due in the first week of January (and not as high as the blue box, that’s just for graphic clarity here) and that the next zone falls after that in mid-January. The pattern lines also intersect here.

The preferred view remains a grind lower for the rest of the year.