Bitcoin Fulfills Projected Surge to ~35,000/BT; Next Stop = ~40,000/BT… Then 45,000/BT.

10/25/23 – “The Dollar Index is turning neutral but would not turn negative – on a 2 – 4 week basis – until a daily close below 105.30/DXZ.  It barely missed doing that even as the cash Dollar Index turned its daily trend down.

Both bounced to weekly resistance and their flattening daily 21 High MACs as that average enters a time when it could turn down.  If that occurs, the Dollar could see a new decline into Nov 13 – 17 ’23 – a 50% retracement in time (12 wks up, 6 wks down) and the fulfillment of an ~18-week high-low-(low) Cycle Progression.  A drop to ~103.60/DXZ would be ‘ideal’.

Bitcoin & Ether have surged with Bitcoin attacking its 2 – 4 week upside target at ~35,000/BT.  It could spike as high as 40,000/BTC, even as Ether is targeting a surge to 2100/ETH+.

They are still likely to advance into the first half of Nov ’23 – fulfilling a ~4-month/~18-week low-low-high-(high) Cycle Progression and 360-degree/ ~1-year moves from the Nov ’21 peak and Nov ’22 low.”

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Bitcoin & Ether are adding confirmation that their Nov ’22 lows are multi-year lows that will spur a much larger advance in the coming months.  Bitcoin’s September buy signals projected a 1 – 2 month surge to ~35,000 and a larger 3 – 6 month advance to ~45,000/BT.

On balance, cryptos could work higher into (at least) Dec 11 – 15, ’23 – the next phase of the ~3-month/~90-degree cycle that timed consecutive lows and is due for an inversion.  Ether is showing that this overall advance could stretch into Feb 2024.

 

Has Dollar Completed its Multi-Year (~14-year) Uptrend?

Are Anti-Dollar ‘Currencies’ (Cryptos & Metals) Poised for New Surges?

How Does Bitcoin/Ether Action Corroborate 2024/2025 Outlook?

   

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.