Bitcoin Poised for Late-Oct/early-Nov ’22 Cycle High.
10/22/22 Weekly Re-Lay – “Bitcoin remains capable of seeing a new rally into late-Oct as part of a larger advance. A daily close above 19,750/BTZ is needed to validate that. On an intermediate basis, it is likely to rally into Nov. 7 – 15 ’22 and peak one year from its Nov 8 – 12, ’21 high. That is due to the web of 12, 20 & 32-week cycles (related by .618 & 1.618) that would combine to make a 52-week high-high cycle… as well as 30-day/degree cycles from recent highs and lows.”
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.