In this episode we review my theory on Bitcoin and its simple 200-day moving average as a predictor of where we are in our current four-year cycle. This indicator is also extremely usefull in identifying cycle tops. This may be the most important technical study to pay close atention to.

In recent trading sessions, alternative cryptocurrencies (alt coins) have captured the spotlight, outpacing Bitcoin's performance as the leading digital asset remains range-bound. Bitcoin has struggled to break above the crucial 50% retracement level of $62,200, derived from its late February to mid-March rally that saw prices surge from $50,000 to an all-time high of $74,000.

Bitcoin was already trending to the downside, approaching the key physiological level of $60,000 when the trustee assigned with the tax of repaying victims of the infamous 2013 hack of what was at the time the world’s largest Bitcoin exchange. 

We explore several technical studies in order to determine if the current bearish trend is weakening or streghnthening.