Bitcoin Bubble & 40-Year Cycle: Sell-off into Sept ’22 on Track.

08/24/22 Weekly Re-Lay Alert – “Bitcoin has sold off after peaking during the latest phase of a high-high-high-(high) Cycle Progression on Aug 15 – fulfilling its intra-month uptrend that projected a rally into Aug 15/16.  It also fulfilled a higher-magnitude 20-week low-low-high-high-(high) Cycle Progression, projecting a new decline after Aug 15.

That corroborates ongoing analysis – described since Bitcoin peaked in Nov ’21 and fulfilled multi-year upside wave objectives & multi-month cycles – all projecting a devastating plunge into Sept ’22.

With a 12-week high-low-(low; Sept 12 – 16) Cycle Progression already corroborating that, Bitcoin’s recent 8-week rally is likely to be followed by a 4-week decline (50%) into Sept 12 – 16.

The Aug 22 low reinforced that, perpetuating an 18 – 19 trading day low-low-low-low Cycle Progression that projects a future low for ~Sept. 16.  (That could be reinforced if Bitcoin holds above the Aug 22 low for a few more days and then sets a subsequent low around Sept 2/6 – the midpoint.)”

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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.  Its 1 – 2 year downside target remains at 13,800/BT!  On a near-term basis, a multi-week peak was expected (and fulfilled) on Aug 15/16 and should trigger a new round of selling into Sept ‘22.

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.