Tag: Bitcoin

06/04/22 Weekly Re-Lay – “Bitcoin has consolidated after spiking below 27,500/BTC – where its monthly HLS and 6-month HHL converged – on May 12.  It would not show any signs of near-term strength until a daily close above 32,350/BTU.  On balance, Bitcoin is still expected to move lower into Sept ’22.” Bitcoin, in Nov ’21, fulfilled what its monthly and weekly trend indicators projected and what its overall wave structure necessitated […]

05/25/22 Weekly Re-Lay Alert – “Bitcoin continues to trade sideways after spiking below ~27,500/BTC – where its monthly HLS and 6-month HHL converged – on May 12.  That decline fulfilled its weekly trend sell signal (late-March) & perpetuated a 45 – 48 day low-low-high-high-high-high-(low; May 12/13) Cycle Progression. That could/should produce a subsequent low in late-June (with a rally in between).  A daily close above 32,700/BTM is needed to give the first […]

05/21/22 Weekly Re-Lay – “Bitcoin is attempting to bottom after spiking below ~27,500/BTC where its monthly HLS and 6-month HHL converged.  That decline fulfilled its weekly trend sell signal (late-March) & perpetuated a 45 – 48 day low-low-high-high-high-high-(low; May 12/13) Cycle Progression. That could/should produce a subsequent low in late-June (with a rally in between).  A daily close above 32,700/BTM is needed to give the first sign of a reversal higher.  On […]

05/14/22 Weekly Re-Lay – “Bitcoin is reinforcing the overall 2022 outlook for an ultimate decline (on balance) into Sept ’22 – that would be reinforced by a low in May ’22.  It reached its primary downside target for 2022, spiking down to ~27,500/BTC where its monthly HLS and 6-month HHL converged.  However, the weekly close was back above the June ’21 low, showing that Bitcoin is initially holding that support. This […]

05/11/22 Weekly Re-Lay Alert – “Bitcoin is reinforcing the overall 2022 outlook for an ultimate decline (on balance) into Sept ’22 – that would be reinforced by a low in May ’22 – and down to ~29,000/BT.  Since it has just reached that decisive downside price target, Bitcoin could ultimately drop lower in 3Q ‘22.  In the short-term, ~27,500/BTC is the monthly HLS and 6-month HHL (range) objective. It continues to correct […]

05/07/22 Weekly Re-Lay – “Bitcoin continues to correct after peaking on March 28/29 and perpetuating a 45 – 48 day low-low-high-high-high-high (March 28/29) Cycle Progression while failing to turn its weekly trend up (after neutralizing it twice).  That signaled that a new 1 – 3 month peak was likely taking hold. That reinforces the overall 2022 outlook for an ultimate decline (on balance) into Sept ’22 – that would […]