Bitcoin has already crossed above the 20-week VTL (Valid Trend Line) and is currently up against the 18-day VTL. The price has already made a swing low based on Hurst Cycles, with that low being formed at the 80-day, 40-day and 18-day cycles. What should be of great interest is the 18-month cycle (yellow horizontal line) and where we are currently trading. This means that anytime between now and mid-July we can paint a major swing low in Bitcoin. The last 18-month swing low that we saw was back in January of 2009!
If and when we finally break the 80-day and 40-week VTLs, the $10,000 value area will be nothing to worry about. In fact, I’d be surprised if we traded in that zone for any significant amount of time.