The Bitcoin two-week cycle low is due on Thursday. The "Sell" was on June 11th at 37,081. Bitcoin traded just under $29,000 overnight. The chart below shows the two week cycle as a series of Full Moon (white) and New Moons (grey). In addition, the dip under 29,000 was just barely enough to meet the minimum Elliott Wave requirements of a completed 5 wave decline, although that doesn't mean it still can't go lower over the couple of days. Finally, Friday is the June CME Bitcoin Futures options expiration. These monthly expirations are typically associated with Bitcoin price lows. All of the above suggests at least a short term bottom in Bitcoin and Crypto in general over the next few days. Puts bought in RIOT or MARA should can be exited in anticipation of a low.
