Bitcoin Keeps Rising —New All-Time High (Highest Day-Close Ever)
2024-12-14
Category: None

Bitcoin closed yesterday's session at the highest price ever, a close at $101,431.58. There has been only two instances when Bitcoin traded higher and this happened on a wick, the 12th December and the ATH.

What to make of this development?
What will happen next?

Bitcoin is moving within a bullish consolidation pattern, slowly climbing higher. This pattern is quite revealing and leaves no doubt as to what is most likely to happen next.

The more often a resistance level is challenged, the weaker it becomes.

There is another one, retraces are non-existent. No corrections either. This means that Bitcoin is super strong. Bitcoin being super strong supports the conclusion that I am about to reach based on the current chart and price action, higher prices next.


 Bitcoin is set to hit a new All-Time High 

The charts don't lie. The charts can't lie. Bitcoin is headed towards a new All-Time High.

Bitcoin has been bullish, rising and moving up.
Bitcoin has been the strongest it has ever been ever, and all the sellers are being bought.

Today's session is trading above the highest close (blue line on the chart).
Today's session continues to push higher within this clear consolidation pattern.

Notice that this is not a rising wedge which has bearish implications, but rather a bullish pennant... Where is the correction?

So many people are calling for a correction right now but Bitcoin is going up.
I think it is about to break a new resistance level because the Altcoins, which have been wild lately, suddenly stopped. Why would the Altcoins stop at this point? Because Bitcoin is about to blow up.

You know how it works don't you?

When Bitcoin is trading this high and produces an advance it tends to suck all the energy off the market. It just grows and everything starts to rest. When Bitcoin takes its break, the rest of the market moves ahead.

I've been saying sideways and sideways has been happening and this is consolidation, doesn't mean that it has to go forever or that we will ignore the charts potential.

I can come up with a target, with clear signals an analysis and such. But if we see an advance, we have to adapt to the chart.

Would you say Bitcoin is bearish and set to crash when it never looked back after moving above 80K? It conquered $80,000 11-November, the strongest support right now on flash crash stands above 90K. We are talking about extreme strength, literally, and this is as normal as it gets.

Just think back to previous halving periods, after the halving, one correction and then massive growth long-term. It is always surprising, it just go and go and go and go... No stop, people always expecting for a crash that doesn't happen because Bitcoin is going up.

When Bitcoin goes bullish, turns bullish, there is no stop. This is good and welcome for Cryptocurrency as a whole. We want Bitcoin to rise and we enjoy Bitcoin rising because the more Bitcoin rises the more the market grows. Money that enters Bitcoin eventually finds its way to all sectors of the market. Support Bitcoin and you are support Crypto. Support Crypto and you support freedom, innovation and growth.

We live in a technological society. Bitcoin is the perfect currency for a digital world.

Email, websites, social apps and Bitcoin.

Thanks a lot for your continued support.

Any retraces and corrections should be bought.
If prices drop, welcome this drop as an opportunity to buy-in, rebuy and reload.

Namaste.