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Microstrategy reaching the highest price in this century!

Well played Micheal 👏

If you live under the rock and still don’t know, Microstrategy is currently one of the biggest Bitcoin investors.

And they are still buying more and more!
Bitcoin just made the highest monthly close in history!
Google search for Bitcoin is just 13% of what it was in 2017’s Bull Run 🔥

This is just one more proof that the hype is nowhere close to the hype we saw back in 2017 and the price is almost there.

We still have a lot of room for growth once the real hype and FOMO kick in!
Litecoin Update

On this chart, we can see an obvious falling wedge pattern.

This is a potentially bullish sign but please keep in mind that this is a daily timeframe. It took almost the entire 2020 for this to be built so don’t expect the price to skyrocket in a day!

This requires time and patience.

Not an ideal setup because stop loss is quite far but we’ll be looking for a better entry once we get confirmation so that stop loss can be tighter as well.
For Litecoin/USD pair, it seems like it’s trying to take out 2019’s high so the reasonable target for Q1 2021 is $150 if bullish momentum continues.
Crypto Signals
XRB/BTC trading pair is bouncing from the area it had to. If we saw a move below this area, it would be very bad for XRP holders. But, we’re still far away from a bullish trend. If you look from a higher perspective, this is still nothing compared to…
XRP did exactly what I said it had to do!

Did anyone believe this could happen?

I don’t think so but from a technical perspective, this is the only scenario that would make this coin looks solid and potentially bullish.

Is this an exit pump?

Could be but we already have an invalidation level.

The pullback is for buying as long as the 2500 sats support area is holding.

If we start getting daily and weekly consecutive closes below, this can go literally straight to zero.

Long story short, looking way better than it did 2 weeks ago!
I certainly didn’t expect to see a headline like this from mainstream press.
We got highest monthly close 3 days ago!

If we get highest weekly close this Sunday, I don’t see what could stop us from reaching somewhere between $23-25k this month.

Get ready for wild market!

When I say wild I really mean it!

Daily candlesticks of $2-3k are not impossible at all!
The range we keep our eyes on!
❗️Mt. Gox rehabilitation plan deadline is Dec 15, 2020.

Can be a bearish signal due to the 150k BTC supply to the market. Keep an eye on.
Bitcoin is still making higher highs, higher lows.

The uptrend is still active.

I do expect consolidation around this price a little bit longer.
Bitcoin is currently going through a few red days but we still should remember the previous monthly close and have that in mind.

That bullishness can express itself sooner or later and we all should be aware of that.

Because of that, shorting should be done only with a good setup.
Daily close below green horizontal support (2800 sats) is the first major negative sign for XRP.

As long as we’re above the green horizontal support area around 2400 sats, we’re good.

Closing below that would be very bad for everyone who’s holding XRP.

That could easily lead us to the new lows which would automatically make a recent move up nothing more than an exit pump fuelled up by airdrop news.
If this is going to be range then we could be close to seeing a big move up (in 3-6 months).

But, if we see new lows, this could decline 30-50% further down.

In the next few weeks, we can easily forecast NEO/BTC direction for months ahead of us (maybe the entire 2021).
This is neither a bullish nor bearish sign.

Why people overreact about this?

People move their coins, it has nothing to do with the price change.

Nobody lost their coins, people are still in charge of their coins but they’re just changing their place of holding.

Media sites have nothing interesting to write about so they make unnecessary confusion in the markets.
Before calling new ATH, firstly let’s see price closing above the highest weekly close.

If that happens to be today, it would automatically mean we have also the highest weekly close in history which adds up to the importance of today’s daily close.

Can we see the new ATH tomorrow?

Of course, we can especially of we see the highest weekly close in the month where we already have the highest monthly close.

But we also have a scenario where this will be triple top or head & shoulders (call it however you want).

It looks good for bulls but without confirmation, this can be the last move up before deeper correction towards the $15k area.

After today’s daily close we can get a way more clear picture of where we are going.
It’s not over for bulls but this is testing the last support.

Yeah there’s the one below that caused the recent bounce but you don’t want to see XRP testing that area anytime soon because it would mean total disaster for this coin.

As I said, it’s not over for the bullish scenario but this is retracing too much making me worried that the move up we saw was nothing more but an exit pump.
Bitcoin is currently in price discovery mode.

It’s at the highest price in history so predicting some targets is extremely hard.

We can go with round numbers calling 25k next target, then 30k but that’s it!

Enjoy the ride!

If you ever bought Bitcoin and didn’t sell, you’re in profit!

Be proud of yourself!

And I'm also proud because I can say that I called this scenario 2-3 weeks ago.
2024/09/30 17:23:15
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