Bitcoin Fulfills MAJOR Upside Price & Wave Targets Near 108,000/BT; 1Q Sell-off Likely!
01/04/25 – “The Dollar Index remains bullish and on track for an overall rally into – and a multi-month top during – January ’25… when a new multi-month decline is expected to take hold. This comes after it set a 3 – 6 month (or longer) low in late-September ’24 low – the latest phase of a ~3.25-year/~39 – 40 month cycle that has governed the Dollar Index for 3 – 4 decades.
The Dollar Index could wait until mid-January before setting a final peak. A peak at that time would complete back-to-back advances of equal duration (16 weeks each) while perpetuating an ~8-week cycle that has created a low-low-high-low-high Cycle Sequence and is likely to create a successive high on Jan 10 – 17, ’25.
The outlook for several markets reinforces the middle half of January (~Jan 10 – 20, ’25) as a decisive and potentially dangerous period that could be linked to a myriad of fundamental factors – including the Jan 14 & 15th PPI & CPI numbers.
The Euro is negative and is fulfilling the outlook for an overall decline into January ’25, before a multi-month low becomes more likely. That would perpetuate a 28 – 29-month high-high-low-low-(low; Jan/Feb ’25) Cycle Progression and likely time a 3 – 6 month (or longer) bottom.
Since mid-June, the Euro has also adhered to a ~5-week cycle – creating a ~5-week low-high-high-high-high-high Cycle Progression with the latest phase fulfilled at the Dec 6th peak. That could/should spur a ~5-week decline into January 6 – 13, ’25 – when a (multi-week) low would be a higher probability scenario. A contrasting 28 – 30-day high-low-low-low-(low; Jan 16/17, ’25) Cycle Progression could stretch that by a few days.
The Yen headed progressively lower during December and fulfilled the potential to spike down to its July 2024 low. It remains near that vital support and would not show any signs of a multi-week low until a daily close above .6510/JYH. An overall drop into January 15 – 17th is possible.
Bitcoin & Ether are bouncing after an initial sell-off. A secondary high is likely on January 8 – 10th and could spur a second (sharp) decline.”
Bitcoin attacked $108,000/BT and fulfilled MAJOR upside price targets as well as annual cycles (that peaked in December ’24). Mid-January ’25 cycle highs are expected to spur an initial decline into early-February and a follow-up decline into early-March ’25 – capable of plunging back to [see publications for details].
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.