🅱️ 40,000, 48,000, 50,000 Or Higher? |Bitcoin + Altcoins Market
Let's ask the most relevant question right now...
What do we know and what is the chart saying?
The bullish rally has been on going for an entire year now, Yes! Amazing!
Bitcoin has been growing since November 2022 and so far a nice 122% growth year to date (YTD).
The rally is still on going but the question remains, how far can it really go?
What we know for certain is that this bullish wave, like any other, can last between 1 and 3 months.
Bitcoin started the final or fifth wave of this bullish impulse 12-September 2023.
We are about two months into this bullish wave.
➖ If the entire bullish wave were to last two months, then the peak can be seen around 12-November.
➖ If the entire bullish wave were to last three months, then the peak can be seen around 12-December.
➖ On the other hand, if the entire wave goes for 4 months straight then the peak date would be around 12-January 2024 and a major correction would follow.
What determines when this rally will end for Bitcoin is most likely the launch of the Bitcoin Spot ETF, this is an event to look for.
What we know for sure is the fact that this rally has much more to give based on many market factors... Let's look at a few of those.
The negative correlation with Tether Dominance is live and well. This index is extremely bearish and only gaining in bearish momentum. Since the index still has much more to drop, in the inverse sense Bitcoin has much more to grow. This is also relevant to the Altcoins market, they will grow strong even when Bitcoin peaks. So the Altcoins will move up, higher and higher, abundance, even when Bitcoin start its next corrective phase.
$40,000 Is definitely a strong resistance level but not that relevant, not a major turning point.
All the Cryptocurrency pairs that went ahead, that moved forward first, hit as high as their level in March/April 2022. For Bitcoin this would mean between 44,000 and 48,000 minimum. This is real technical analysis by the way. 😄
➖ Fibonacci extensions says $50K.
➖ Elliot wave says $50K.
➖ My intuition says definitely above $40,000...
➖ The market can always impress, don't be surprise if instead of 40 or 50 Bitcoin hits 60K.
Now... This is all me... My view, my opinion, my perspective, my experience... What about you?
What's your take?
How far up do you think Bitcoin will go in this bullish wave?
Just leave a comment... And remember, you can share your favorite Altcoins and I'll be looking at those everyday.
Thank you for reading.
Thanks a lot for your continued support.
Namaste.
What do we know and what is the chart saying?
The bullish rally has been on going for an entire year now, Yes! Amazing!
Bitcoin has been growing since November 2022 and so far a nice 122% growth year to date (YTD).
The rally is still on going but the question remains, how far can it really go?
What we know for certain is that this bullish wave, like any other, can last between 1 and 3 months.
Bitcoin started the final or fifth wave of this bullish impulse 12-September 2023.
We are about two months into this bullish wave.
➖ If the entire bullish wave were to last two months, then the peak can be seen around 12-November.
➖ If the entire bullish wave were to last three months, then the peak can be seen around 12-December.
➖ On the other hand, if the entire wave goes for 4 months straight then the peak date would be around 12-January 2024 and a major correction would follow.
What determines when this rally will end for Bitcoin is most likely the launch of the Bitcoin Spot ETF, this is an event to look for.
What we know for sure is the fact that this rally has much more to give based on many market factors... Let's look at a few of those.
The negative correlation with Tether Dominance is live and well. This index is extremely bearish and only gaining in bearish momentum. Since the index still has much more to drop, in the inverse sense Bitcoin has much more to grow. This is also relevant to the Altcoins market, they will grow strong even when Bitcoin peaks. So the Altcoins will move up, higher and higher, abundance, even when Bitcoin start its next corrective phase.
$40,000 Is definitely a strong resistance level but not that relevant, not a major turning point.
All the Cryptocurrency pairs that went ahead, that moved forward first, hit as high as their level in March/April 2022. For Bitcoin this would mean between 44,000 and 48,000 minimum. This is real technical analysis by the way. 😄
➖ Fibonacci extensions says $50K.
➖ Elliot wave says $50K.
➖ My intuition says definitely above $40,000...
➖ The market can always impress, don't be surprise if instead of 40 or 50 Bitcoin hits 60K.
Now... This is all me... My view, my opinion, my perspective, my experience... What about you?
What's your take?
How far up do you think Bitcoin will go in this bullish wave?
Just leave a comment... And remember, you can share your favorite Altcoins and I'll be looking at those everyday.
Thank you for reading.
Thanks a lot for your continued support.
Namaste.
Comment:
Update | Additional Growth Confirmed
The week is yet to close but I have reasons to believe that Bitcoin is set to continue growing.
➖ Solana continues to hit new highs daily.
➖ Chainlink also moved forward, a new high has been hit today.
➖ Dogecoin hit a new high today.
➖ Compound is trading at its highest level based on candle close.
➖ Cardano hit a new high today.
➖ Tron hit a very strong new high yesterday.
➖ Binance Coin hit a new high yesterday.
These are just some examples but part of the TOP Cryptocurrencies in the entire industry, the biggest, the giants; They are all moving forward today or yesterday, new highs.
Bitcoin and these giants have a strong positive correlation: What one does, the rest follows!
The fact that the big Altcoins are moving straight up, confirms that Bitcoin will do the same.
👉 Bitcoin is set to continue growing. We can predict what will happen even before the week ends thanks to the charts.
Namaste.
The week is yet to close but I have reasons to believe that Bitcoin is set to continue growing.
➖ Solana continues to hit new highs daily.
➖ Chainlink also moved forward, a new high has been hit today.
➖ Dogecoin hit a new high today.
➖ Compound is trading at its highest level based on candle close.
➖ Cardano hit a new high today.
➖ Tron hit a very strong new high yesterday.
➖ Binance Coin hit a new high yesterday.
These are just some examples but part of the TOP Cryptocurrencies in the entire industry, the biggest, the giants; They are all moving forward today or yesterday, new highs.
Bitcoin and these giants have a strong positive correlation: What one does, the rest follows!
The fact that the big Altcoins are moving straight up, confirms that Bitcoin will do the same.
👉 Bitcoin is set to continue growing. We can predict what will happen even before the week ends thanks to the charts.
Namaste.
Comment:
Bitcoin is now trading at the end of the 4th consecutive green session.
This only happened once in 2023, back in January, and for Bitcoin this only happens in a rising trend.
Throughout the entire bear market there was never more than 3 green sessions.
Back in January the 4th green session led to a 5 weeks long correction (higher low) that ended in a new high...
Something similar can happen this time but the technicals continue bullish.
We can see a retrace/correction (higher low) followed by additional growth, much higher prices. Or we can see straight up...
We are still waiting for the weekly session to end to see how it all goes.
Remember, regardless of what happens short-term, we continue aiming up.
This bullish wave has more to give...
Thanks a lot for your continued support.
Namaste.
This only happened once in 2023, back in January, and for Bitcoin this only happens in a rising trend.
Throughout the entire bear market there was never more than 3 green sessions.
Back in January the 4th green session led to a 5 weeks long correction (higher low) that ended in a new high...
Something similar can happen this time but the technicals continue bullish.
We can see a retrace/correction (higher low) followed by additional growth, much higher prices. Or we can see straight up...
We are still waiting for the weekly session to end to see how it all goes.
Remember, regardless of what happens short-term, we continue aiming up.
This bullish wave has more to give...
Thanks a lot for your continued support.
Namaste.
Comment:
ALERT! The Altcoins Are Moving Forward!
The Altcoins moving forward is always a bullish signal for Bitcoin.
We can see MATICUSDT full green after two days red.
Solana seems ready to keep on going while everything is recovering right away... Patience is key, but it seems we will get with the best possible scenario for bullish Crypto holders and traders.
The Altcoins moving forward is always a bullish signal for Bitcoin.
We can see MATICUSDT full green after two days red.
Solana seems ready to keep on going while everything is recovering right away... Patience is key, but it seems we will get with the best possible scenario for bullish Crypto holders and traders.
Comment:
🅱️ Bitcoin Weekly Update
The weekly session closed below resistance, the fib level (~37,500) mentioned in a previous update.
We needed a close above resistance but not all is lost.
The technicals remain bullish but the possibility of a retrace are now strong... Something like this:
A test of EMA10 and/or 1.618 Fib... Here it is hard to predict because there is so much room for shakeouts and price swings. We would have to look at the smaller timeframes.
Keep in mind that something similar to March 2023 can happen (stop-loss hunt/long wicks).
If Bitcoin starts the week and moves above resistance pointing towards straight up, I will publish and update and let you know. Meanwhile, the Altcoins will continue growing fast and strong. You can direct your attention towards those.
This bullish wave has more to give.
Namaste.
The weekly session closed below resistance, the fib level (~37,500) mentioned in a previous update.
We needed a close above resistance but not all is lost.
The technicals remain bullish but the possibility of a retrace are now strong... Something like this:
A test of EMA10 and/or 1.618 Fib... Here it is hard to predict because there is so much room for shakeouts and price swings. We would have to look at the smaller timeframes.
Keep in mind that something similar to March 2023 can happen (stop-loss hunt/long wicks).
If Bitcoin starts the week and moves above resistance pointing towards straight up, I will publish and update and let you know. Meanwhile, the Altcoins will continue growing fast and strong. You can direct your attention towards those.
This bullish wave has more to give.
Namaste.
Comment:
🅱️ People are not ready to sell their Bitcoins!
Ask yourself this question, are you ready to sell your Bitcoins?
➖ If you didn't sell all through 2022...
➖ If you held through the rise in 2023...
Would you be willing to sell now?
I don't think people are ready to sell their Bitcoins, people are ready to hold, hold long-term, hold for more.
The Bitcoin traders, participants, believers and holders, the Bitcoin community, is very resilient, we are all also well versed in technical analysis and well educated... We are in it for the long-term.
When the bear market is on, its on but when the tide changes, the Bitcoin players are really strong.
Do not worry about swings, shakeouts or retraces on the way up... Bitcoin continues solid, bullish, people are not really to sell because we still have more growth in the coming days, weeks and months.
Namaste.
Ask yourself this question, are you ready to sell your Bitcoins?
➖ If you didn't sell all through 2022...
➖ If you held through the rise in 2023...
Would you be willing to sell now?
I don't think people are ready to sell their Bitcoins, people are ready to hold, hold long-term, hold for more.
The Bitcoin traders, participants, believers and holders, the Bitcoin community, is very resilient, we are all also well versed in technical analysis and well educated... We are in it for the long-term.
When the bear market is on, its on but when the tide changes, the Bitcoin players are really strong.
Do not worry about swings, shakeouts or retraces on the way up... Bitcoin continues solid, bullish, people are not really to sell because we still have more growth in the coming days, weeks and months.
Namaste.
Comment:
This monthly Bitcoin chart says it all...
Last month closed as a full green candle, this implies much higher prices this month.
6 Months of consolidation/sideways will lead to 2-3 months green.
For example:
(FIRST) Bitcoin consolidated bearish for 6 months, July through December 2022, what followed was 3 months/sessions green.
(SECOND-NOW) Bitcoin consolidated bullish for 6 months, April through September 2023, what follows is several months green.
The first bullish month after the consolidation is October... This bullish wave has much more to give!
Focus on the bigger picture.
Namaste.
Last month closed as a full green candle, this implies much higher prices this month.
6 Months of consolidation/sideways will lead to 2-3 months green.
For example:
(FIRST) Bitcoin consolidated bearish for 6 months, July through December 2022, what followed was 3 months/sessions green.
(SECOND-NOW) Bitcoin consolidated bullish for 6 months, April through September 2023, what follows is several months green.
The first bullish month after the consolidation is October... This bullish wave has much more to give!
Focus on the bigger picture.
Namaste.
Comment:
Bitcoin is ready to forged ahead.
On a weekly basis we still need to break the previously mentioned resistance, around 37,500 for the next resistance to become active. With the market picture as it is now, we are set to move forward, to keep going... This bullish wave has much more to give, Bitcoin will continue to grow.
Please check the DXY and USDT.D index chart for support of this statement.
See you at the top!
Namaste.
On a weekly basis we still need to break the previously mentioned resistance, around 37,500 for the next resistance to become active. With the market picture as it is now, we are set to move forward, to keep going... This bullish wave has much more to give, Bitcoin will continue to grow.
Please check the DXY and USDT.D index chart for support of this statement.
See you at the top!
Namaste.
Comment:
Here we have Bitcoin trading within an ascending channel.
Our 37,500 resistance is being broken, so we are back in the green (this is mentioned in a previous update).
This weekly session has a long lower wick (first half red) and is now trading near peak price (second half green).
Everything looks good so far.
On this timeframe, we need candle closure for confirmation but we are 100% bullish based on the action here and what we see coming from the Altcoins.
Next target $40,000 and higher.
Namaste.
Our 37,500 resistance is being broken, so we are back in the green (this is mentioned in a previous update).
This weekly session has a long lower wick (first half red) and is now trading near peak price (second half green).
Everything looks good so far.
On this timeframe, we need candle closure for confirmation but we are 100% bullish based on the action here and what we see coming from the Altcoins.
Next target $40,000 and higher.
Namaste.
Trade closed: target reached:
Nov. 9, 2023
"All the Cryptocurrency pairs that went ahead, that moved forward first, hit as high as their level in March/April 2022. For Bitcoin this would mean between 44,000 and 48,000 minimum."
Target hit.
Potential for a correction is now really high. Prepare!
"All the Cryptocurrency pairs that went ahead, that moved forward first, hit as high as their level in March/April 2022. For Bitcoin this would mean between 44,000 and 48,000 minimum."
Target hit.
Potential for a correction is now really high. Prepare!
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Related Ideas
There is a resistance level based on Fibonacci proportions at 37,494.
The way things are going, Bitcoin can move to hit 40,000 next week.
It can start moving now, this week, this weekend but, if Bitcoin fails to hit 40,000 this weekend, we have this level as a relevant point.
Closing weekly above ~37,500 can confirm 40,000 next week.
Closing weekly below ~37,500 can signal consolidation/sideways or slower than super fast growth.
The way things are looking now, Bitcoin is aiming straight up!
Namaste.