Set out in the July 26th Update the two two week cycle (full moon - new moon), which has been nailing short-term highs and lows, was looking for a low late last week. "For now, and with Bitcoin so oversold, it may be a good time to initiate or add to positions in Bitcoin and/or Ethereum." Bitcoin then rallied from approximately $29,300 to a high of $41,387 last night. MARA went from $22 to $30, RIOT went from $24 to $34. What's next? The current two-week cycle tops out on or about August 8th. That suggests the rally at hand has another week or so to go. As is shown on the chart below*, the key level to beat is this morning's high at $41,387. If price breaks out above that level, the old high at $64,900 becomes a target, subject only to the eerily accurate sequence of the two-week, full moon/new moon, cycle. In that event, intermediate term MARA and/or RIOT calls will be the play, along with less volatile GBTC and ETHE. *Full moons (lows) are in white, new moons (highs) are grey.
