Bitcoin Attacks Decisive Support Near 18,000/BT; Watch Sept 19 – 23 for Shift!
09/08/22 The Bridge – Crypto Currency War: Divergence – “At the same time the Dollar is reaching a major upside target and interest rates are warning of an impending peak (or at least a peak in related bearish sentiment), Bitcoin is fulfilling its downside objectives and has entered the month that has been projected (since Nov ‘21) for its final low – September 2022!…
On a contract basis, it has spiked to new lows in Sept ’22 (below its July ’22 low) – initially fulfilling its ~15-month Cycle Progression. It is now in the ideal 2 – 3 week period for a multi-month bottom. That is corroborated by the bullish divergence being exhibited by related markets like Ethereum and several blockchain stocks (RIOT, MARA, etc.)
From a price perspective, Bitcoin has already retraced .786 of its Mar ’20 – Nov ’21 advance – an extreme retracement for a market that has (previously) gone through a parabolic advance (‘bubble’). That was fulfilled at 17,830/BTC – so a major, 1 – 2 year downside target has been reached.
Bitcoin has also entered a multi-week period (Sept 6 – 23) when a 32 – 34-week low-low-low-low Cycle Progression – dating back to the March ’20 bottom – recurs…
Bitcoin has fulfilled enough of what has been projected (downside) – for the past 6 – 9 months – to set a multi-month bottom.”
Bitcoin, in Nov ’21, fulfilled projections for a 5th of 5th wave peak 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 the Crypto market.
Since then, Bitcoin has been projected to plunge into Sept ’22 – when monthly cycles project the next major low. Weekly cycles corroborate that and project a multi-month bottom by Sept 23. The US Dollar could set an initial (1 – 2 month) peak in Sept ’22… while Bonds could set a 1 – 2 month bottom (peak in interest rates).
What does this mean for the future of cryptos?
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