Bitcoin Confirming Major, ‘Wave V’ Peak… Projects Drop into early-March ‘25.
01/31/25 – “Bitcoin & Ether are diverging as Bitcoin briefly spiked to a new all-time high but did not close above its previous December ‘24 peak.
It fulfilled almost all of what was expected from a wave ‘V’ rally (see chart in Dec ‘24 INSIIDE Track) that originated at the wave ‘IV’ low in July/August ‘24 – in precise sync wth its ~10-month high-low-low-low-(low; July/Aug ’24) Cycle Progression.
That spurred a multi-month surge into Nov/Dec 2024 – the same time of year in which Bitcoin set major highs in 2017 & 2021 and intervening lows in 2018 & 2022.
In doing so, Bitcoin fulfilled another form of wave similarity – rallying for the same magnitude ($55,00 – $60,000/BT) as it did in March ‘20 – April ‘21 AND in Nov ‘22 – March ‘24.
The peak near 108,000/BT precisely matched the magnitude of its previous (‘22 – ‘24) advance.
Bitcoin just set its highest daily close exactly 6 months from a previous high daily close (July 22nd) and may have completed a ‘wave 5’ rally. It would take a daily close below 98,000/BT to confirm.”
Bitcoin is confirming its December & January double peaks, a textbook (weak) wave 5 of V top that was set in perfect sync with MAJOR upside price targets as well as annual cycles (in December ’24). This projected/projects an overall decline into early-March ’25 as the first phase of a major shift.
Ether peaked in December ’24 and projected a sharp, multi-week drop to 2,200/ETH or lower… that should ultimately stretch into early-March ’25 (with an initial low forecast for early-February ’25). On a broader basis, Bitcoin is capable of plunging back to 72,000 – 74,500/BT and stretching an overall multi-month decline into [see publications for details].
What Does Bitcoin’s Wave 5 of V Peak Mean for 1Q 2025?
What Does Bitcoin’s Wave V Peak Mean for 2025?
Why are Other Cryptos Relatively Weak & Very Vulnerable?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.