Bitcoin Remains on Track for Plunge to ~13,800/BT! Bubble Bursting.
06/25/22 Weekly Re-Lay – “Bitcoin reached a crucial 6 – 12 month downside target (triggered at Nov ’21 peak) near 20,000/BT and did spike below 18,000/BT before rebounding. It is negative until a daily close above 24,000/BTU.
On a 6 – 12 month basis, Bitcoin remains on track for an overall decline into Sept ’22 (see related ~15-month HCP diagram) and could easily reach its primary 1 – 2 year downside target at ~13,800.”
Bitcoin, in Nov ’21, fulfilled what its monthly and weekly trend indicators projected and what its overall wave structure necessitated – a surge to new all-time highs (~66,000+/BT) ushering in a major top in late-Oct/early-Nov ‘21. That also fulfilled the multi-year outlook for a major advance into 2021 when Currency War Cycles culminated.
Since then, Bitcoin has been projected to plunge into Sept ’22 – when monthly cycles project the next major low.
What does this mean for the future of cryptos?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.