Where Can Bitcoin Go? Part 4
2024-11-10

📈🌐 Time to Look at the 'Big Picture and Levels' through the  FXProfessor's BIG CHART  🌐📈

As we approach new milestones, Bitcoin has reached a key resistance level near $79,653, marking a significant point in its current cycle. This level aligns with a massive structural analysis I’ve been tracking, indicating that BTC could be on the verge of an impressive breakout. Here’s what we’re looking at next:

 🔹 Massive Structural Resistance at $108K: 

1,2,3 Setup at $108K: The classic FXProfessor 1,2,3 setup is inbound at the $108,000 mark, a historically strong resistance level. This level has been tested twice before, and the upcoming third attempt statistically holds a 63% potential to break higher. A successful breakout here would not only signal strength in BTC’s trend but could pave the way for substantial gains in this cycle.

Key S/R Flip: Once BTC conquers this $108K structural level, it has the potential to flip from resistance to support, setting a robust foundation for the next leg up.

🔹 Potential for Early ATHs:

Historically, Bitcoin has reached peak all-time highs around 565 days after each halving (as seen in the last two cycles). However, based on our current trajectory and the strength of this cycle, we might see the next ATH arrive even sooner. This could place the next peak well before the average 656 days post-halving mark, possibly accelerating BTC’s climb to new heights.
💡 Strategic Insight:

For traders:

 Watch this Key Resistance Today: Just below $80K (specifically $79,600, a level I’ve been calling since BTC was at $18K). 
Next Target -  Destination $108K:  The next major level is $108K, marked by the massive structural resistance on the chart (the yellow levels).
Long-term Bull Run Continuation: A breakout here could signal a continuation of the long-term bull trend. Those looking to accumulate positions might see this resistance level as a significant indicator of Bitcoin’s strength in the coming days.
 Third Attempt at Massive Resistance : This will be the third attempt to break the yellow massive structural resistance level at $108K (and as you know, third attempts often succeed!).
📈 Final Thoughts:

Altcoins might also gain traction during BTC’s consolidation phases around these critical levels, presenting opportunities in both BTC and alt markets.
This cycle’s technical indicators and structural resistance levels are aligning for what could be a remarkable year ahead. Stay tuned as we navigate these historic levels, and be prepared for potential peaks sooner than expected.
One Love,
The FXPROFESSOR 💙


