Bitcoin Trading Inversely to Dollar; Sept ’22 Cycles Could Shift Trends.
09/07/22 The Bridge – Crypto Currency War: Divergence – “This Dollar Index outlook from the Feb ’21 INSIIDE Track detailed some key factors projecting a multi-year bottom in early-2021 followed by a strong wave ’5’ rally – projected to… ultimately reach or exceed 110.0/DX. With the US Dollar having just reached that major, 1 – 2 year upside price target, it is likely to trigger an initial peak and enter some consolidation.
It would NOT have to enter a major bear market and would NOT have to set its final high in order to remove some serious downside pressure that has been weighing on cryptocurrency (and Gold/Silver) for the past ~6 months.
It only needs to stop rallying and convince traders that a multi-week (or multi-month) pause is taking hold in order to remove that weight from Bitcoin (and Gold/Silver), allowing them to enter a multi-week surge.
The same is true of interest rates, which share a close correlation. (Bonds & Notes triggered a 4-Shadow signal that could lead to a multi-month bottom.) This Dollar test comes at the exact time when a multi-month bottom has been forecast for Bitcoin (Sept ’22) – a decisive cycle low that has been discussed throughout 2022.”
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. The US Dollar could set an initial (1 – 2 month) peak in Sept ’22… while Bonds could set a 1 – 2 month bottom (peak in interest rates).
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.