Bitcoin/Ethereum Nearing Targets…
07/15/17 Weekly Re-Lay:
“The Dollar Index is fulfilling its daily trend pattern, dropping to new lows as it traded into the extreme of a ~2-month/8–9 week high-low-low-low Cycle Progression that projected a low by/on July 14th. That was corroborated by an intervening ~30-degree/~4-week high (Mar. 9–14)–high (Apr. 9–14)–high (May 9–14)–low (June 9–14) Cycle Progression – also projecting a low by/on July 14th.
(The next phase of the 8–9 week cycle – and two phases of the ~4-week cycle – would coincide with the early-Sept. 35–36 week cycle when a rebound peak is expected.) A low in this current time frame (stretching out to July 17–21st) would also fulfill the weekly HLS.
The Euro spiked to new highs earlier in the week & and attacked its Intra-month PLLR (1.1539/ECU), which is also a 1–2 month LLH projection. While doing this, the Euro fulfilled a similar (to the Dollar) ~2-month/8–9 week low-high-high-high Cycle Progression. That dovetails with the monthly trend pattern, projecting an initial high around mid-July.
The Yen spiked lower, fulfilling its June 16th outside-week/2 Close Reversal sell signal and intermediate cycles that projected a low on July 10–14th (fulfilling a 9-week high-low-low-low-(low) Cycle Progression). It reversed higher and has already turned its daily trend up.
The Yen has a convergence of a 15-week low-high-(high) Cycle Progression & a 7-8 week low-high-high-high-(high) Cycle Progression coming into play on July 31–Aug. 4th that could time the next intermediate high.
The Dollar Index could not turn its daily trend up, projecting a drop to new lows. It has fulfilled that and has an 11–13 trading-day high-high-low-low-(low) Cycle Progression projecting a 1–2 week low for July 17–19th.
The Euro remains strong & could spike to a new high on July 17–19th – even as the Yen turned its daily trend up, which could trigger a brief pullback. It needs a daily close above .8941/JYU to turn its intra-month trend up.”
Dollar, Euro & Yen reinforcing likelihood for decisive period on July 17–31st.
Bitcoin & Ethereum fulfilling projections (since early-June) for overall decline to primary downside targets of ~1,900/Bitcoin & ~150/Ethereum. This originated from them perfectly fulfilling intermediate cycle high (June 5–11th) and 6–12 month upside price targets (2940–3150/Bitcoin & ~400/Ethereum) – and signaling major correction. Ethereum has lost over 50% as Bitcoin remains relatively stronger. Action of early-July 2017 is reinforcing longer-term outlook & future cycles… as well as next buying opportunity.
See Weekly Re-Lay & INSIIDE Track for related analysis.