Bitcoin Fulfills Multiple Cycle Highs; Multi-Week Sell-off Projected.
01/25/25 – “Bitcoin is poised to peak on bullish news and enter a corrective phase as Ether drops…
The Dollar Index fulfilled the 2 – 3 month outlook for an overall rally into – and a multi-month top during – January ’25. It peaked in mid-Jan. – completing back-to-back advances of equal duration (16 weeks each) and perpetuating an ~8-week low-low-high-low-high Cycle Sequence that projected a multi-week high on Jan. 13 – 17th.
It turned its daily trend down and projected a drop into late-Jan/early-Feb. The Dollar Index just tested and held its weekly HLS, reinforcing the likelihood for a low in the coming weeks.
The Euro fulfilled the outlook for an overall decline into January ’25, when a multi-month low became a much higher probability. It dropped into Jan 13th, precisely fulfilling a ~5-week low-high-high-high-high-high-(
A low at any time in this 2-month period would also perpetuate a 28 – 29-month high-high-low-low-(low; Jan/Feb ’25) Cycle Progression.
A future low is likely during the week of February 17 – 21, ’25… 5 weeks later. The intervening action should clarify whether that would be a secondary (higher) low or a lower low.
The Euro surged to its weekly LHR and held, portending a peak in the coming week(s).
The Yen has produced initial signs of a low but needs a daily close above .6490/JYH to turn the daily trend up and confirm a multi-week bottom.
Bitcoin & Ether are expanding their divergence with Ether bouncing to its daily 21 High MAC without turning its daily trend up and remaining well below its Jan 7th high… as Bitcoin surged to new all-time highs, on an intraday basis.
Bitcoin set its highest daily close exactly 6 months from a previous high daily close (July 22nd) as it traces out a ‘wave 5’ rally.
It has failed to close above its mid-December (intraday) peak, ushering in the potential for a larger-magnitude peak. A daily close below 99,500/BT is needed to confirm a multi-week peak and project selling into [reserved for subscribers]”
Bitcoin set a double top, peaking (again) where it previously fulfilled MAJOR upside price targets as well as annual cycles (that peaked in December ’24). This is likely to spur an overall decline into early-March.
Ether has already peaked and is projecting a sharp, multi-week drop to 2,200/ETH or lower… stretching 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].
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.