Bitcoin Reaches Major Downside Target; Plunges into Sept ’22 Cycle Low.
09/07/22 The Bridge – Crypto Currency War: Divergence – “Bitcoin has already retraced .786 of its Mar ’20 – Nov ’21 advance – an extreme retracement for a market that has (previously) gone through a parabolic advance (‘bubble’). That was fulfilled at 17,830/BTC – so a major, 1 – 2 year downside target has been reached…
Bitcoin has also entered a multi-week period when a 32 – 34-week low-low-low-low Cycle Progression – dating back to the March ’20 bottom – recurs… Bitcoin has fulfilled enough of what has been projected – for the past 6 – 9 months – to set a bottom. In order to initially validate that potential, it would need to [reserved for subscribers].
(Of added interest, some key blockchain stocks turned their weekly trends up in Aug. and have since fulfilled expectations for 2 – 3 week reactive sell-offs while neutralizing but not turning down those weekly trends… project an accelerated wave ‘3’ rally in those stocks.)”
Bitcoin, in Nov ’21, fulfilled projections for a 5th of 5th wave peak 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 the Crypto market.
Since then, Bitcoin has been projected to plunge into Sept ’22 – when monthly cycles project the next major low. Weekly cycles corroborate that and project a multi-month bottom by Sept 23.
What does this mean for the future of cryptos?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.