Bitcoin Fulfilling ~25,000/BT Low on June 14/15… Subsequent Surge to ~35,000+/BT Projected.
06/14/23 INSIIDE Track Update – “Bitcoin & Ether closed last week below their rising weekly 21 High MACs, delaying the onset of a new rally and inverting what is likely (a low) for daily cycles converging on June 14/15. That also projected a drop toward their corresponding weekly 21 Low MACs – currently at ~24,670/BT & ~1665/ETH.
The June 16 weekly close could have far-reaching implications for the 3Q ’23 crypto outlook. Longer-term weekly & monthly cycles converge in ~mid-July ’23 and could time a more significant peak IF Bitcoin holds support (on a weekly close basis) near 25,300/BT”
Bitcoin is completing its projected ‘a-b-c’ decline – that has been targeting a test of ~25,000/BT before the next leg up. A bottom is very likely – based on cycles and the weekly trend structure – now, on June 14/15. That should trigger a new surge into mid-year or beyond (capable of reaching 35,000/BT or higher). It’s intra-year uptrend remains intact, projecting another surge in the coming weeks… and potentially beyond.
How High Can Bitcoin Surge in 2023?
Is This Prime Buying Opportunity?
Will ~25,000 (Downside) Target Spur New Advance?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.