Bitcoin Retests Peak as Ether Projects Plunge Below 2,200 into early-March ’25.
01/18/25 – “The Dollar initially peaked as the Euro & Yen initially bottomed. Bitcoin is poised to peak on bullish news (inauguration) – as is often the case…
The Dollar Index… has fulfilled most of the 2 – 3 month outlook for an overall rally into – and a multi-month top during – January ’25. This comes after it set a 3 – 6 month (or longer) low in late-Sept ’24 low – the latest phase of a ~3.25-year/~39 – 40 month cycle that has governed the Dollar for decades.
The Dollar Index initially fulfilled this upside potential and could reverse lower at any time. The past week’s peak completed back-to-back advances of equal duration (16 weeks each) and perpetuated an ~8-week cycle that created a low-low-high-low-high Cycle Sequence and projected an intermediate high on Jan. 13 – 17, ’25.
The Euro is… fulfilling (or has fulfilled) the outlook for an overall decline into January ’25, when a multi-month low is most likely. A low at any time in this 2-month period would perpetuate a 28 – 29-month high-high-low-low-(low; Jan/Feb ’25) Cycle Progression.
Since mid-June, the Euro has also adhered to a ~5-week cycle – creating a ~5-week low-high-high-high-high-high Cycle Progression with the previous phase fulfilled at the Dec 6th peak. That spurred a ~5-week decline into January 13th, ’25 – when a multi-week low was a higher probability…
The Yen has produced initial signs of a low but needs a daily close above .6490/JYH to turn the daily trend up and confirm a multi-week bottom. It could now see a surge above .6650/JYH in the coming week or two – the level of its weekly LHR and declining weekly 21 Low MAC.
Bitcoin & Ether are expanding their divergence with Ether bouncing to its daily 21 High MAC and remaining well below its Jan 7th high… as Bitcoin rallied back toward its peak.”
Bitcoin is poised to retest $108,000/BT – where it previously fulfilled MAJOR upside price targets as well as annual cycles (that peaked in December ’24). Mid-January ’25 cycle highs are expected to spur an overall decline into early-March ’25. On a broader basis, Bitcoin is capable of plunging back to 72,000 – 74,500/BT and stretching an overall multi-month decline into [see publications for details].
Ether has already peaked and is projecting a sharp, multi-week drop to 2,200/ETH or lower… stretching into early-March ’25 (with an initial low forecast for early-February ’25).
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.