Bitcoin & Stocks Projected Corresponding Surges into mid-to-late-November ’24
10/12/24 – “Stock Indices remain positive with the DJIA & S+P Midcap 400 following the same pattern that projected a new surge from October 7/8th into (ideally) October 17/18th.
The DJTA corroborated that by tracing out an entire ‘a-b-c’ decline without turning its daily trend down, a sign that signaled it was poised to embark on a new rally…
The likelihood for a new rally in October aligns with the primary (geometric) cycle in the DJIA…The S+P Midcap 400 has broken out higher in fulfillment of ongoing analysis… it has its greatest synergy of monthly & weekly cycles converging in late-November ’24. (See 10/09/24 WR Alert for detailed analysis.)
Meanwhile, the NQ-100 maintains wave targets near the July ’24 peak – around 21,200/NQZ. New monthly resistance concurs and is reinforced by the recent lows creating an Intermediate LLH in the vicinity. [A few key tech stocks possess uncanny synergy of cycles that converge on Nov 4 – 8, 2024 – portending a (likely) decisive peak at that time.]
Bitcoin & Ether are reinforcing intermediate bottoming signals but need daily closes above their October 1st lows to confirm… and to project rallies into November 2024 – the next phase of the ~8-month (& midpoint of the ~16-month) Cycle Progressions that timed the March ’24 top.
Bitcoin could see a quick surge to its weekly LHR (~68,900/BTC)… See the October 3, 2024 The Bridge for more details…
Gold created a weekly 2 Close Reversal higher, showing new strength and increasing the likelihood for an overall advance into late-October – the next phase of an ongoing ~1-year/~12.5-month high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct/early-Nov 2024) Cycle Progression that has timed many of Gold’s most significant turning points.
Gold could extend its rally into early-November, the next phase of its ~5-week/34 – 37-day low-high-high-high-(high; Oct 30 – Nov 4) Cycle Progression.
At the same time, Silver is reinforcing the likelihood for a wave ‘v’ of ‘5’ of ‘III’ wave peak – ideally in the first half of November 2024 – when weekly & monthly cycles collide.
Metals continue to reinforce analysis that projected major, multi-year lows to take hold in late-2022 and lead to a multi-year advance. That has been unfolding since then. Ultimately, these trends and cycles could spur higher prices into [reserved for subscribers] – when major cycles converge.
Gold & Silver rallied after pulling back into mid-week with Gold’s daily HLS indicator signaling a multi-week low by Oct 11. Both metals tested and held their rising daily 21 Low MACs as Silver tested and held pivotal range-trading support without turning its daily trend down.
That reinforces the outlook for another wave higher, with daily closes above 2695/GCZ & 32.59/SIZ needed to confirm new strength.”
Bitcoin is reinforcing projections for a surge to new (all-time) highs leading into November 2024. Stock indexes are corroborating that outlook, projected to first rally into October 17/18th and ultimately into late-November 2024.
This reinforces the overall outlook for 2024 and is providing powerful clues about related markets and events. With Gold cycles peaking in late-October ’24, the ideal time for an accelerated surge in Bitcoin is after that (see ‘Rock, Paper, Scissors’ analogy)… when ‘anti-Dollar’ competition is reduced. A final rally in Gold & Silver is now (likely) unfolding.
(Refer to October 3, 2024 The Bridge – Currency War: Rock, Paper Scissors and other special updates and reports for additional analysis.)
What Would a Bitcoin Surge into mid-November ‘24 Reveal?
How High Does Bitcoin Wave Structure Project for Wave V?
Does Projected Stock Surge into late-November Corroborate?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.