Bitcoin & Ether Vulnerable; Late-Oct/early-Nov ’22 = Multi-Month Cycle High.
10/06/22 INSIIDE Track Update – “Bitcoin (& Ether) are in precarious positions after rebounding from major cycle lows but failing (so far) to signal reversals higher. The daily trends, intra-month trends & daily 21 MACs place them in a make-or-break position where they must either rally and close at new 2 – 3 week highs… or see quick spikes lower below their Sept ’22 lows.
Bitcoin has already rallied enough to turn the direction of its daily 21 High MAC up – half of the dual daily 21 MAC reversal signal that needs to occur to confirm a bottom. It needs a daily close above that average (currently at ~20,261/BTZ) to complete that signal and likely trigger a quick surge into ~Oct 12/13 (as part of a larger, overall advance into late-Oct/early-Nov). A daily close above 20,480/BTZ is needed to turn its intra-month trend up.”
Bitcoin has plummeted after fulfilling projections for a 5th of 5th wave peak in Nov ‘21 – in sync with a ~4-Year low (2009) – high (Nov/Dec ’13) – high (Nov/Dec ’17) – high (Nov/Dec ’21 Major Top) Cycle Progression. That also fulfilled the multi-year outlook for a major advance into 2021 when Currency War Cycles culminated and when the US Dollar would begin to rally and suppress cryptocurrency for 1 – 2 years. A major 1 – 2 year downside target remains at ~13,800/BT.
Bitcoin was projected to plunge into (at least) Sept ’22 – when a multi-month low would be most likely. Since fulfilling that, Bitcoin & Ether have been forecast to see an overall rebound into late-Oct/early-Nov ’22 – when the next multi-month high is most likely.
How Long Should Sept ’22 Cycle Low Hold?
Why is Early-Nov ’22 Decisive Time for Cryptos??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.