Bitcoin/Cryptos Portend Add’l Spike High; Intra-Year Uptrends Hone Outlook.
04/08/23 Weekly Re-Lay – “Bitcoin & Ether remain strong, having surged after attacking and briefly spiking below ‘4th waves of lesser degree’ support on March 9/10 – the downside targets for a correction from their initial 1 – 2 month peaks set in mid-Feb.
They bottomed in line (cyclically) with previous lows/reversals and surged toward their secondary upside targets at 29,000/BT & 2050/ETH. Bitcoin has reached this target while Ether remains below its corresponding objective. Both could still spike higher and neither would turn negative until daily closes below 26,500/BT & 1650/ETH.”
Bitcoin has reinforced its intra-year uptrend (projecting overall advance into June/July ’23) while fulfilling an initial 5-wave advance from its Nov ’22 low. Ether is similar. That should lead to a subsequent ‘a-b-c’ rally – with support already forming around 25,000/BT – followed by a new surge into mid-year [future upside target(s) reserved for subscribers].
May 10 – 13 & June 10 – 13 = future phases of geometric cycles (lows) that should be monitored closely.
How High Can Bitcoin Surge in 2023?
When is Next (Likely) Buy Opportunity??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.