Bitcoin & Ether Holding Support; Late-Oct/early-Nov ’22 = Multi-Month Cycle High.

10/08/22 Weekly Re-Lay – “Bitcoin has fulfilled the ongoing 6 – 12 month outlook for a plunge into Sept ’22 and has slowly rallied after completing a 32 – 34-week low-low-low-(low) Cycle Progression and a ~15-month low-low-low-(low) Cycle Progression – both of which bottomed in late-Sept.  However, it has not yet confirmed a bottom.

In late-Sept, Bitcoin & Ether tested and repeatedly held synergistic support at 17,800 – 18,400/BT & 1180 – 1230/ETH after both completed .786 retracements (2DGR) of their Mar ’20 – Nov ’21 advances… the ideal level for a multi-month (or longer) bottom.  Those levels must continue to hold if these cryptos are poised for larger advances.

Bitcoin rallied enough to turn the direction of its daily 21 High MAC up but has been unable to close above that level or turn its daily & intra-month trends up.  It would take a daily close above 20,480/BTZ to accomplish all of that and confirm a bottom.  Until then, the intermediate trend remains down”

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Bitcoin has plummeted after fulfilling projections for a 5th of 5th wave peak in Nov ‘21 – in sync with a ~4-Year low (2009) – high (Nov/Dec ’13) – high (Nov/Dec ’17) – high (Nov/Dec ’21 Major Top) Cycle Progression.  That also fulfilled the multi-year outlook for a major advance into 2021 when Currency War Cycles culminated and when the US Dollar would begin to rally and suppress cryptocurrency for 1 – 2 years.  A major 1 – 2 year downside target remains at ~13,800/BT.

Bitcoin was projected to plunge into (at least) Sept ’22 – when a multi-month low would be most likely.  Since fulfilling that, Bitcoin & Ether have been forecast to see an overall rebound into late-Oct/early-Nov ’22 – when the next multi-month high is most likely.

How Long Should Sept ’22 Cycle Low Hold?

Why is Early-Nov ’22 Decisive Time for Cryptos??   

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