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Short setup invalidated, if we get close above $12000 we have all indicators telling us new local high is coming ($12500+)

I’ll keep you updated!
Things are heating up 🔥

The next target is $14 000 but with the current price action, it’s hard to think it will stop there.

We expect at least seeing some wicks above towards $15 000.
Not many people realize that we are currently sitting above the highest weekly close (resistance) in the last 2.5 years.

The next weekly close is at $19k and after that, we will be witnessing the highest Bitcoin price ever.

We’re closer to a new all-time high than most people think.

Get ready 🚀
The best days are still ahead of Bitcoin.

We can’t compare the ecosystem that’s right now around Bitcoin with the ecosystem at the peak of $20k

If you mention fees, just look at gold or any stock such as Amazon, Apple, Microsoft… Bitcoin is not made for Starbucks purchases. There will be layers on top of the current ecosystem that will allow that feature.

You use neither Gold nor Amazon, Apple, Microsoft shares for your Starbucks coffee yet the market cap of these assets is measured in trillions.

You have to change your perspective in order to realize the potential Bitcoin has.

And even if fees rise to $10 for example, it’s still pretty cheap for the value it brings. You can move any amount of money to anyone in the world without the government being able to seize your money or stop your transaction.

In the times we are living, I see this extremely important and paying 5-10$ fees for this is actually pretty cheap.

To the moon 🚀🚀🚀
ETH in the battle with the resistance.

If we see a break of this resistance, nothing stops ETH from going parabolic towards the next resistance around $700.

🚀🚀🚀
The reason for yesterday Bitcoin Pump

PayPal one of the leading online payments company announced the integration of Bitcoin services. PayPal will start to buy and sell services for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) in 2021. Users can buy and hold supported coins from their PayPal account.

The services initially only started for US-based customers. PayPal is the 204th largest company according to the Forbes list of 2019. That is huge news because PayPal currently has 286 Million active users. This will start a new era of adoption for the cryptocurrency market. Soon more and more companies and payments services start accepting Bitcoin and other cryptocurrencies.

While this has many positive benefits because way more people will get in touch with Bitcoin and other cryptocurrencies, with this they can control your Bitcoin the way they control USD.

As long as you can purchase Bitcoin without these intermediaries, do it because you don’t want one day your government to come at you asking for your Bitcoin.

We don’t want the 1930’s repeating one more time.

At that time, they ordered everyone to sell their gold holdings to the government and once they got in control of Gold, they were able to control it and do whatever they want.
"PayPal will launch its own Cryptocurrency within 6 to 12 Months?"

Predicts Asset Manager

Its is been assumed that PayPal could launch its own digital currency soon after announcing that it will start allowing customers to purchase, sell, and hold crypto on its website and app (Venmo). That the assessment of Meltem Demirors, an asset manager who oversees over $1 billion crypto assets at CoinShares.

During the interview with CNBC’s Fast Money on Oct 21st:

Coinshares’ chief strategy officer Meltem Demirors recently shared her thoughts on PayPal embracing crypto assets. She argued that adding the crypto features will be a “huge on-ramp for consumers” as it will give them easier access to cryptocurrency.

Demirors also pointed out that PayPal expanding its new crypto service to its Venmo app is a big deal as it boasts over 300 million active users who are mainly millennials. This age group, per Demirors, is the “target audience” for crypto.

“And eventually I think this is paving the way for PayPal to launch its own crypto…I wouldn’t be surprised if, in the next six to twelve months, we see PayPal launching its own digital currency similar to the digital dollar that we see in many payments companies.”
Bitcoin looking pretty strong 🔥

It does not retrace a lot at all and with this slowly grind into the previous high, we expect tomorrow or at the beginning of the next week to see attempts towards $14k 🚀
Almost no retracement at all.

Even though on the lower timeframes it had some downside spikes, on daily timeframe Bitcoin is looking pretty strong.

As long as it is above the green area (previous high), this has only one direction and that’s to the upside.
If you are not bullish on Bitcoin after this weekly close, we have nothing to talk about.

We got the highest weekly close since March 2018 and things are looking really great.

Once we smash through the $14-15k area, you won’t believe how close we will be to reached a new all-time high!
Crypto Signals
ETHBTC is at the levels it wasn’t in last 18 months. No matter what’s your target for ETHBTC pair, don’t be afraid to take some profit if your goals is to grow your BTC holdings. “You can’t go broke taking a profit”
The decision to sell part of ETH coins into BTC close to the local top of 0.04BTC now looks like a great decision.

Now we can buy it back growing our ETH supply by approximately 30%.

Currently, the ETHBTC pair doesn’t look the best.

This can be an indirect sign of Bitcoin’s strength over Ethereum and other coins.

Buying back should be considered only if we reclaim back to 0.032-0.033 BTC.
I don’t remember when was the last time I was this bullish on Bitcoin.

For a second time, it’s testing the highest monthly close.

If we get a monthly close above $14k, we have everything ready for a new all-time high.
Bitcoin at the highest price point since June 2019 🚀
Where next?

I do expect to see Bitcoin going above $14 000 price area even for a short period in form of a wick.

As I said yesterday, I do not remember the time I was this bullish on Bitcoin, especially if monthly closes above $14k. In that case, we would get the highest monthly close in Bitcoin history and everything ready for a new all-time high.
Forwarded from Crypto Signals
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Even though Bitcoin was more than $1000 down at some point yesterday, that “drop” didn’t affect the general market structure.

That’s why I still think we will tap into $14000-15000 area pretty soon.
ETH/BTC pair is currently testing a very important price region of 0.028 BTC.

If this area gets broken, this will further confirm the strength that Bitcoin has over the altcoin market (Ethereum in this example).

Hypothetically this pair crossing can drop down to 0.02BTC which is approximately a drop of 35-40%.

What does this tell to us?

If Bitcoin moons, it doesn’t mean altcoins will follow.
While Bitcoin is reaching new local highs, Ethereum is being rejected by the resistance region.

We still have more than 48 hours until weekly close but if it closes like a bearish engulfing, we can easily revisit the $300 support region.

This is just a forecast and a lot of things could change.
Crypto Signals
I see many people suggesting to buy TRX on the pullback fo the big move. Be cautious about these suggestions because, at this moment, this looks pretty bad, almost as the perfect example of the exit pump. If weekly close happens to be below 300 sats, this…
This could be one of the biggest exit pumps.

I warned you on time and the fact that most of the trading groups suggested their members buying TRX after pump makes me question them.

What was the reason to even think of buying something that looks like an obvious exit pump?

Nothing stops this going to 60-70 sats which is an additional 60-70% drop 🤯
2024/10/01 07:26:49
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