Bitcoin Fulfills Mid-Sept. Cycle Low…
Bitcoin Fulfills Mid-Sept. Cycle Low…
Focused on mid-Nov. Convergence;
Intervening Peak Possible on Oct. 16 – 20.
10/04/17 Weekly Re-Lay Alert – Stretching to the Extremes:
“Stock Indices remain positive as they approach a historically pivotal time of year. When it comes to the Decennial Cycle, the month of October has timed the culmination of several declines and the inception of at least one other (2007). That peak (Oct. 11, 2007) was unique in that it completed a precise 17-Year Cycle from the low of Oct. 11, 1990 – another example of opposing extremes (low to high).
Another interesting aspect of the 2007 peak – the last phase of the Decennial Cycle – is that the Oct. 2007 high was essentially a double-top in indexes like the S+P 500 – which had previously topped in July 2007. The Oct. 2007 peak retested the July levels, briefly spiked above them, and then reversed lower.
In some respects, that is what has been going on in the Nasdaq 100 – peaking in July 2017 and now attempting to spike above those levels in Oct. 2017. Based on weekly & monthly resistance and the weekly LHR (ushering in the potential for a 2 Close Reversal Combo IF it quickly reversed lower) – a spike up to [reserved for subscribers] is likely before a peak is set.
While that would allow the NQZ to test its weekly extreme (something the DJIA has just done and the S+P 500 appears poised to do), it is the convergence of other extremes – in time & price – that add a great deal of synergy to this unfolding time period…
The Dollar is fulfilling the potential for a quick, sharp rally up to the convergence of the latest 5 weekly LHR levels – and could still test that target range in the coming days (93.69 – 94.05/DXZ).
The Euro is, inversely, fulfilling the likelihood for a multi-week correction and just completed a monthly 2 Close Reversal lower on the Sept. 29 close. It could still see a drop to the convergence of multiple weekly HLS levels around 1.1700/ECZ.
The Yen has dropped sharply since setting a double-top with its April ’17 peak. It has neutralized its weekly uptrend multiple times but still needs a weekly close below .8918/JYZ to reverse that trend down. The failure to do that this past week provides the potential for an intermediate low in the near future.
The Yen could still reach ~.8800/JYZ. and would show no signs of bottoming until a daily close above .9004/JYZ.
The Dollar’s stabilization also had an impact on another related currency arena – cryptocurrency. Bitcoin peaked in early-Sept. – perpetuating the geometric (30, 60 & 90-degree/day) cycle that helped pinpoint the early-June peak. At the same time, as Bitcoin was testing critical upside targets surrounding $5,000, Ethereum was retesting its ~$400 peak – creating a textbook double top.
The early-Sept. peak…quickly led to Bitcoin dropping right to its previous peak (resistance turned into support) near $3,000 and initially bottoming 60 degrees/2 months from its mid-July low – precisely in mid-Sept.
The recent mid-Sept. low perpetuated a ~60-degree low (mid-Jan. ’17)–low (mid-Mar. ’17)–low (mid-May ’17)–low (mid-Jly. ’17)–low (mid-Sept. ’17) Cycle Progression – powerfully reinforcing the impact that geometric cycles are having on digital currency. The next phase of that cycle – in mid-Nov. ’17 – holds even greater significance…
Gold & Silver have dropped sharply after confirming multiple factors that pinpointed early-Sept. for a multi-week – and possibly a multi-month – high. They were – and still are – projected to decline into a potential intermediate low in the first half of October.
An overall correction into Oct. 9 – 13 was expected and has nearly been fulfilled. This comes on the heels of Silver generating a monthly 2 Close Reversal lower in Sept.
From a daily perspective, Oct. 5 – 10 is the ideal time for this low – so it could occur in either the end of this week or the early part of next week.
A low in the current week would perpetuate a 12-week high-low-(low) Cycle Progression & complete a 50% correction in time (8 weeks up/4 weeks down). [In addition, if Gold sets a low on Oct. 2 – 6, it would project an ensuing ~12-week advance into late-Dec. – the convergence of monthly cycles described in the Oct. 2017 INSIIDE Track.].”
Bitcoin dropped into mid-Sept. & perpetuated the same, uncanny ~60-degree cycle that previously timed lows in mid-Jan., mid-Mar., mid-May & mid-July 2017. It completed a precise .618 retracement (~$3,200 up followed by $2,000 correction) as it dropped right to its previous peak (resistance turned into support) near $3,000.
Combined with mid-Sept. cycle low, that set stage for next leg up – capable of lasting into mid-Nov. IF a specific level is exceeded.