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Bitcoin reached new ATH 🚀💯
TIME Magazine says it's time to get some #Bitcoin!

The popular New-York based magazine is partnering with Grayscale to produce content about the crypto space. The publication has agreed to get paid in BTC and intends to hold it on their balance sheet.
Retail interest in the crypto market increases as new Twitter following of crypto exchanges nears all-time-high.
Bitcoin targets $68 000!

Looking at the Bitcoin chart and price action, it’s looking pretty good.

Close below the green area would be the reason for worry because it would endanger the entire pattern and could lead to serious correction but we’re safe at this moment.
2 spots left at discounted price
Bitcoin update

Yesterday we marked important areas for Bitcoin.

At this moment, a bearish scenario is in play.

A daily close below the green area will endanger the strength of the trend.

Waiting for close, it will tell us way more info.
The Purpose Bitcoin ETF has added 670 BTC over the past week. They now hold 17,493 BTC ($1.07 billion).
Crypto Signals
Bitcoin update Yesterday we marked important areas for Bitcoin. At this moment, a bearish scenario is in play. A daily close below the green area will endanger the strength of the trend. Waiting for close, it will tell us way more info.
Bitcoin update

We got the bearish move which was very explosive.

Is market bearish?

Not yet, but it can become if we don’t get retracement back to $58-60k area in day or two.
This is the ideal scenario for bulls.

The mentioned low is very important because most of the longs will put stop loss there, below that low.

Because of that, we need to test that area and buyers have to defend it.

In that case, we’ll get bounce and we can say that the potential trouble area for Bitcoin with so many long stop-loss orders is not a that big problem and we have everything ready for the continuation of this bull market.
Yesterday was one of the largest bitcoin long liquidation events in its history.

Don't play with leverage!
Crypto Signals
This is the ideal scenario for bulls. The mentioned low is very important because most of the longs will put stop loss there, below that low. Because of that, we need to test that area and buyers have to defend it. In that case, we’ll get bounce and…
Bitcoin Update

We’re testing the previous low and the price is currently trading below it.

The bullish scenario can still be in place but have to bounce back today or at least tomorrow.

Otherwise, we’re going further down towards the next bearish target at $43 000
The scenario we forecasted a few weeks ago is still in play.

Are we going to see ETH skyrocketing?

We could but we need a price to stay above $2000 and keep forming higher lows.

Lower low would be the first bearish sign and warning of potential change in trend direction.
The correction we’re currently in is nothing compared to what we could see.

Because of that, avoid buying before confirmation (check post I shared this morning).

None of these levels are too low to be reached.

Yeah, these around $30k seem a little bit too much but these around $40k are more than realistic.

People get used to seeing green candles and most of them forgot how serious corrections could be in the crypto market.

Nothing is impossible.

A year ago we saw a 60% correction on Bitcoin in one day. After that, everything is possible and you should organize your plans accordingly.

I'll share positive signs once I get them.
Bitcoin is currently testing the broken support area.

The bounce we saw is okay but we need to see continuation and break through this area in order to turn bullish again.
Bitcoin hit our projected resistance and dropped from that level.

Weekly close will give us direction for the week ahead.

We’re still in a bull run but correction can easily continue next week as well.
The second largest USDT deposit on exchanges happened yesterday. $2.37 Billion USDT deposited on exchanges. The largest deposit spotted on 3 February before the announcement of Tesla BTC buy.

Someone is buying the dip. There are a lot of public companies and millionaires waiting to get some BTC. Accumulation is going on before the rally.
Second test of the resistance area is coming!
Younger inexperienced wallets are selling BTC during this crash

On the other hand Older wallets continue to accumulate it's defiently a bullish sign
2024/09/29 15:34:23
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