Bitcoin Reinforcing Projected ~65,000/BT Peak; Plunge to ~29,000/BT Forecast!
04/24/21 Weekly Re-Lay – “Bitcoin is reinforcing the significance of a major upside objective near 65,000/BT (65,000 – 66,800/ BT) – a decisive target on a 3 – 6 month & 6 – 12-month basis. Bitcoin precisely matched the magnitude of its previous rally (from March ’20 into Jan. ’21) when it attacked that level, likely completing wave ‘5’ of an overall 5-wave rally. That could trigger an overall correction back to ~29,000/BT – the 4th wave of lesser degree support (and also the 2021 intra-year low and support).”
Bitcoin fulfilled ongoing analysis for a surge to ~65,000/BT, where a multi-month peak has been forecast. That should trigger a drop back to ~29,000/BT – its 4th wave of lesser degree support and what is now considered the most decisive level of 6 – 12 month and 1 – 2 year support. If it can test that downside target in the coming months, Bitcoin would likely set a 3 – 6 month bottom near there.
What could 2021/2022 outlook for Dollar & Gold mean for the future of cryptos?
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