#BTC #BRC20 #BinanceBlockchainWeek #pepe #Bitcoin_Talk $BTC Let's ask the most relevant question right now...

What do we know and what is the chart saying?

The bullish rally has been on going for an entire year now, Yes! Amazing!

Bitcoin has been growing since November 2022 and so far a nice 122% growth year to date (YTD).

The rally is still on going but the question remains, how far can it really go?

What we know for certain is that this bullish wave, like any other, can last between 1 and 3 months.

Bitcoin started the final or fifth wave of this bullish impulse 12-September 2023.

We are about two months into this bullish wave.

➖ If the entire bullish wave were to last two months, then the peak can be seen around 12-November.

➖ If the entire bullish wave were to last three months, then the peak can be seen around 12-December.

➖ On the other hand, if the entire wave goes for 4 months straight then the peak date would be around 12-January 2024 and a major correction would follow.

What determines when this rally will end for Bitcoin is most likely the launch of the Bitcoin Spot ETF, this is an event to look for.

What we know for sure is the fact that this rally has much more to give based on many market factors... Let's look at a few of those.

The negative correlation with Tether Dominance is live and well. This index is extremely bearish and only gaining in bearish momentum. Since the index still has much more to drop, in the inverse sense Bitcoin has much more to grow. This is also relevant to the Altcoins market, they will grow strong even when Bitcoin peaks. So the Altcoins will move up, higher and higher, abundance, even when Bitcoin start its next corrective phase.

$40,000 Is definitely a strong resistance level but not that relevant, not a major turning point.

All the Cryptocurrency pairs that went ahead, that moved forward first, hit as high as their level in March/April 2022. For Bitcoin this would mean between 44,000 and 48,000 minimum. This is real technical analysis by the way. 😄