Bitcoin Nearing Intermediate Peak; Spike Above ~50,000 Still Possible

08/19/21 INSIIDE Track Update – “Bitcoin remains strong, validating the overall outlook for a surge to 47,000 – 50,000/BT.  It is currently testing its declining weekly 21 High MAC after twice neutralizing its weekly downtrend.  As a result, it is at a pivotal juncture when a secondary top could take hold.  In order to prevent that from occurring, Bitcoin would need to give a weekly close above 48,000/BTU (to project additional upside).”

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Based on its monthly trend pattern in June ’21 – while fulfilling downside targets at ~29,000/BT – Bitcoin continues to project an overall surge to new all-time highs (above 65,000/BT) before a major top becomes most likely.  If Bitcoin can peak in 4Q ’21, it will powerfully corroborate the outlook for 2022!

What would that mean for the future of cryptos?    

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