Now Confirmed? Bullish Reversal & Altcoins Win! The Bitcoin Hack
2024-12-31
Category: None

The best possible scenario for the Altcoins market is developing right now as Bitcoin starts to produce a short-term bullish reversal. We are seeing the 0.786 Fib. retracement level being conquered as resistance, reclaimed as support. The recent drop can easily end as a fail breakout down based on the 4H timeframe with a close in 1 hour above $93,771. This would confirm a higher low vs 5-Dec. and open the doors for the upper resistance of the sideways trading range to be tested next. This can be $99,000 or even $104,000 or up to $108,000.

Here why it is unwise to be short at this point. This bullish reversal and soon challenge of resistance can transform into the resumption of the bullish move, it can even end as a higher high even if a shy one; impossible to know. What we do know is that the market is bullish and when the market is bullish all positions should be with the market trend and not against. All positions should be focused on the upside/LONG. When there is a drop, this becomes an opportunity to buy. This is what we see on this chart.

This is an interesting development and can lead to higher prices next. Higher prices at this point, at this juncture on this date, can mean awesome Altcoins growth. I mention the Altcoins because Bitcoin is consolidating, sideways, when Bitcoin is sideways within a bullish market the Altcoins grow.

When Bitcoin grows 10%, some Altcoins can grow 80% or more.
When Bitcoin grows 40%, some Altcoins can be up 300% or more.

Bitcoin is for the whales, the Altcoins are for us.

This is a short-term analysis. Confirmation is needed. All the levels are clearly depicted on the chart. Above the highlighted support levels we are super bullish. Bullish after 13 days of down can really make a difference now. You will feel it. Feeling the bullish pressure for such a minor development only reveals the true sentiment of the market. The majority knows. Crypto is bullish and the world knows. Crypto is going up. Bitcoin is going up. The Altcoins are going up.

That's awesome.
Do you agree?

Thanks a lot for your continued support.

Namaste.