BITCOIN Can it reach the 250-500k range based on the DXY Cycles?

This is Bitcoin (BTCUSD) against the U.S. Dollar Index (DXY) on the monthly chart. It is obvious how the two are (naturally) negatively correlated. When the DXY rises (green channel), BTC enters a Bear Cycle (red channel), when the DXY trades sideways (blue), BTC accumulates and starts the new Bull Cycle (blue), when DXY falls (red), BTC registers the 1 year parabolic rally of the Bull Cycle (green).

Last month, the DXY closed its first red candle after 4 straight green months. If this is the top of DXY, based on this model we should see it turning sideways, prompting BTC into an Accumulation Phase (blue). What is really interesting is that since April 2015, we see a clear Pivot Zone for DXY, which the price always revisits. At the same time, BTC has its own Pivot Zone which also revolves around its previous two Accumulation Phases.

If the same pattern is repeated and DXY's pull-back of roughly -14% hits its Pivot Zone, then Bitcoin may register the top of its next Bull Cycle within a (wide indeed) range of 250k - 500k USD by late 2024/ early 2025.

How realistic can this scenario be? Feel free to let me know in the comments section below!




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