Bitcoin ETF rally is over - 42k to be monster resistance in 2024
- update on this analysis:
- since then Bitcoin has rallied strongly in anticipation of its spot ETF pending SEC approval
- while the ETF is most certainly going to be approved at this point, it is still probable most of 2024 is going to be a sideways year for BTC
- biweekly Kumo cloud represents massive resistance, one that won´t be conquered easily
- once bitcoin confirms a break outside the Kumo with a biweekly close however expect the king of all cryptos to reach new ATHs
Most of 2024 is going to be boring, sideways to down price action that is designed to shake people out. Those who are patient and conservative will be the real winners of 2024.
Degen season begins Q3 of 2024 OR when BTC reaches the 0.618 fib extension at 32k.
- while the ETF is most certainly going to be approved at this point, it is still probable most of 2024 is going to be a sideways year for BTC
- biweekly Kumo cloud represents massive resistance, one that won´t be conquered easily
- once bitcoin confirms a break outside the Kumo with a biweekly close however expect the king of all cryptos to reach new ATHs
Most of 2024 is going to be boring, sideways to down price action that is designed to shake people out. Those who are patient and conservative will be the real winners of 2024.
Degen season begins Q3 of 2024 OR when BTC reaches the 0.618 fib extension at 32k.