#Bitcoin Update – Monday, 14.10.2024
2024-10-14

**As-salamu alaykum and Good Morning to All Brothers and Sisters!**

#Bitcoin has moved exactly as I predicted in my previous analysis, and today, we see a strong bullish movement as the price has broken out of the yellow area. Not only that, but we’ve also witnessed a breakout from our major resistance (Arrow #4). This is particularly significant because it marks the **6th attempt** to break through this crucial red line. Right below this line, we’re seeing the confirmation of a new wave forming (Arrow #3). 

If Bitcoin manages to break and hold above the **$65,342** level, it would be a huge achievement, opening the door for the price to potentially soar toward the **$80K** mark—something I predicted a while back on the monthly timeframe. However, it’s important to remember that it’s still a bit early to fully confirm this theory. We need to see a solid confirmation before getting too excited.

**What’s Next?**

We find ourselves once again at a critical juncture. There are multiple important resistance levels here, with the most significant being the **red line (Arrow #2)**. If Bitcoin successfully breaks and confirms the **$65,342** level, this would be a massive win for the bulls, setting the stage for a major uptrend that could drive the price directly to **$80K**. But let’s not get ahead of ourselves—it’s too soon to confirm these scenarios just yet. 

For now, keep your eyes on two crucial levels: **Arrow #2** and **Arrow #3**. They will tell us where the market is headed next.

**Bearish Scenario:**

If Bitcoin fails to break through or retests the yellow area unsuccessfully, or if it gets rejected from the red line, we could see a retracement. In that case, Bitcoin may fall back into its previous range, signaling a return to consolidation.

**#Alts (Altcoins)**

Altcoins performed exceptionally well over the weekend, hitting many of the targets from our buy signals. Several alts are continuing to move upward, and we’re actively updating our altcoin list to reflect the changing market. However, I strongly suggest updating your stop-losses at this point. If Bitcoin gets rejected from the red line, we could see altcoins giving back their recent gains.

Stay tuned for further updates! I wish you all a profitable week ahead—let’s make the most of this exciting market. Have a fantastic day, everyone!