DXY to top soon sending BTC to six figures
This is a monthly chart of the DXY charting its supercycle bear market since the 164.72 top in Feb 1985. The supercycle and lower Elliot waves for the DXY are as follows:
(0) Feb 1985 164.72
(a) Sep 1992 78.19
(b) Jul 2001 121.02
a Mar 2008 70.70
Primary 1 Mar 2009 89.62
Primary 2 May 2011 72.70 BTC created in "Satoshi Whitepaper"; BTC Genesis block created Jan 2010; BTC first bull market top Jun 2011 at $31.90
Primary 3 Jan 2017 103.82 BTC second bull market top Nov 2013 at $1177; beginning of BTC 3rd bull market Jan 2015 to Jan 2017
(A) Feb 2018 88.25 BTC third parabolic bull market top to near $20000
(B) Mar 2020 102.99 BTC third bear market to $3129 & COVID low to 2nd higher low at $3858
Primary 4(C) Jan 2021 89.21 BTC fourth bull market to 64.9K in Apr 2021 and 69K in Nov 2021
b Primary 5 (5) minor 5 110.79? BTC fourth bear market to $17567 in June 2022 or maybe lower later this year
(c) c 70-72 BTC 5th and 6th bull markets to six figure then seven figure BTC
Notes:
1. Generally when the DXY goes down Bitcoin has gone up in a bull market. When the DXY goes up BTC has gone down in a bear market.
2. The DXY is near to topping if not already topped at 110.79 to finish Primary Cycle 5 in Cycle wave b. This is corresponding to near the end of Bitcoin's 4th bear market bottom.
3. I believe in the next 7 years Bitcoin will go into its 5th bull market taking it to more than six figures and a 6th bull market that will take it to over $1 million. This will correspond with a supercycle degree (c) in the DXY (dollar index) that will take its value to the 70-72 range again. JMHO
(0) Feb 1985 164.72
(a) Sep 1992 78.19
(b) Jul 2001 121.02
a Mar 2008 70.70
Primary 1 Mar 2009 89.62
Primary 2 May 2011 72.70 BTC created in "Satoshi Whitepaper"; BTC Genesis block created Jan 2010; BTC first bull market top Jun 2011 at $31.90
Primary 3 Jan 2017 103.82 BTC second bull market top Nov 2013 at $1177; beginning of BTC 3rd bull market Jan 2015 to Jan 2017
(A) Feb 2018 88.25 BTC third parabolic bull market top to near $20000
(B) Mar 2020 102.99 BTC third bear market to $3129 & COVID low to 2nd higher low at $3858
Primary 4(C) Jan 2021 89.21 BTC fourth bull market to 64.9K in Apr 2021 and 69K in Nov 2021
b Primary 5 (5) minor 5 110.79? BTC fourth bear market to $17567 in June 2022 or maybe lower later this year
(c) c 70-72 BTC 5th and 6th bull markets to six figure then seven figure BTC
Notes:
1. Generally when the DXY goes down Bitcoin has gone up in a bull market. When the DXY goes up BTC has gone down in a bear market.
2. The DXY is near to topping if not already topped at 110.79 to finish Primary Cycle 5 in Cycle wave b. This is corresponding to near the end of Bitcoin's 4th bear market bottom.
3. I believe in the next 7 years Bitcoin will go into its 5th bull market taking it to more than six figures and a 6th bull market that will take it to over $1 million. This will correspond with a supercycle degree (c) in the DXY (dollar index) that will take its value to the 70-72 range again. JMHO
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