Bitcoin Setting Double Top as Ether Lags; Late-January Sell-off Expected.
01/22/25 – “Bitcoin & Ether are expanding their divergence with Ether twice bouncing to its daily 21 High MAC and remaining well below its Jan 7th high as Bitcoin rallied and retested its major peak after turning its daily trend back up.
Bitcoin is setting its highest daily close exactly 6 months from a previous high daily close (July 22nd) as it traces out a ‘wave 5’ rally – after bottoming right at its 4th wave of lesser degree support. The coming days should be pivotal, particularly if Bitcoin fails to close above its mid-December (intraday) peak.”
Bitcoin is retesting $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 being fulfilled and are likely to spur an overall decline into early-March ’25… with an initial sell-off in late-January.
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). 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].
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.