INDEX:BTCUSD progressive cycles forming.

April 26th’s lower wick confirmed the closing of the 60 day cycle, started on Feb 22nd. A move to the upside has begun, targeting the 50 000 to 51 000 range at the start of June, followed by a consequent move to the downside which will complete a 120 day cycle around August 22nd-24th with support at ~44 500.

These targets have acted as resistance and support in the past, and are also fitting the current channel in which Bitcoin is slowly trending up.