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🐝 #Bitcoin Growth cycle — Analyzed
What can we say based on the chart above? Two things:
1) The growth is following the same structure: consolidation below resistance -> breakout -> first wave of growth -> minor consolidation -> second wave of growth
2) Each growth spurt is shorter and weaker than the previous one (a sign of an upcoming correction).
Currently, we are witnessing the period between the first wave of growth and consolidation. Most likely the peak of this local cycle above #Btc-halving is ~$74,000.
What can we say based on the chart above? Two things:
1) The growth is following the same structure: consolidation below resistance -> breakout -> first wave of growth -> minor consolidation -> second wave of growth
2) Each growth spurt is shorter and weaker than the previous one (a sign of an upcoming correction).
Currently, we are witnessing the period between the first wave of growth and consolidation. Most likely the peak of this local cycle above #Btc-halving is ~$74,000.
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🔺 TOTAL 2 — Compare 2024 and 2017
We always compare the current 2024 bull cycle to 2020, but are we comparing it to the 2017 bull cycle?
They look almost identical.
Chart showing market capitalization without #Bitcoin — Altcoin MarketCap. If we compare these two charts, we can see that the real Altcoin Season has not yet begun.
Currently, TOTAL2 is in the middle stages of starting growth. The real Altcoin season will start after the Bitcoin Halving (almost summer and #ETFEthereum approved).
Overall, this year has every chance of repeating 2017, which was truly incredible in terms of returns from altcoins.
We always compare the current 2024 bull cycle to 2020, but are we comparing it to the 2017 bull cycle?
They look almost identical.
Chart showing market capitalization without #Bitcoin — Altcoin MarketCap. If we compare these two charts, we can see that the real Altcoin Season has not yet begun.
Currently, TOTAL2 is in the middle stages of starting growth. The real Altcoin season will start after the Bitcoin Halving (almost summer and #ETFEthereum approved).
Overall, this year has every chance of repeating 2017, which was truly incredible in terms of returns from altcoins.
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In the cryptocurrency market, a notable change has been observed as the recent downturn in Bitcoin has affected the overall trajectory of altcoins. Amid this shift in market dynamics, Chiliz (CHZ) has emerged as a standout performer, successfully achieving its expected price target. Investors have shown keen interest in these lower market cap altcoins, speculating on their potential to deliver significant returns.
Chiliz, the sports fan engagement digital currency, has seen a surge in investor interest following the announcement of Tokenomics 2.0, which features a token burning mechanism. This development fueled the price increase, causing Chiliz to break the $0.14 mark, a target long focused on by market analysts. An uptrend was initiated in mid-January, with momentum building on consecutive closes above $0.085. CHZ's recent peak was almost a 61% gain, a bullish signal for future price movements.
If CHZ maintains a close above $0.14, the rally could extend towards $0.17. Medium-term targets at $0.20 and $0.27 also remain in sight. However, Bitcoin's struggle to hold the $51,000 level, coupled with expected low weekend trading volumes and profit-taking by investors, hint at the possibility of a short-term reversal.
Chiliz, the sports fan engagement digital currency, has seen a surge in investor interest following the announcement of Tokenomics 2.0, which features a token burning mechanism. This development fueled the price increase, causing Chiliz to break the $0.14 mark, a target long focused on by market analysts. An uptrend was initiated in mid-January, with momentum building on consecutive closes above $0.085. CHZ's recent peak was almost a 61% gain, a bullish signal for future price movements.
If CHZ maintains a close above $0.14, the rally could extend towards $0.17. Medium-term targets at $0.20 and $0.27 also remain in sight. However, Bitcoin's struggle to hold the $51,000 level, coupled with expected low weekend trading volumes and profit-taking by investors, hint at the possibility of a short-term reversal.
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#CHZ I'm waiting for a nice position and my goals 🎯 are as below in the picture ⬇️ .Always follow me 🙏
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$JPM Chart analysis
Increase for 10 consecutive weeks at 27%. Historically an anomaly.
Price hits double resistance level.
The resistance line of the upward sloping trend line also appears.
Daily short-term negative divergence on RSI
Epic Earnings is being priced (will launch Friday, January 12).
The probability is in favor of pulling the price back. The target is $160
Increase for 10 consecutive weeks at 27%. Historically an anomaly.
Price hits double resistance level.
The resistance line of the upward sloping trend line also appears.
Daily short-term negative divergence on RSI
Epic Earnings is being priced (will launch Friday, January 12).
The probability is in favor of pulling the price back. The target is $160
$ARB is so powerful, recover quickly and continue to search for new highs, like this in a few days it may peak to around $3-4b to be on par with $OP's level, but it's not worth it 😆
I'm seeing some major media channels pushing good news about #Bitcoin ETF again, I'm also serious about the scenario of the market rebounding until January 10, there are 2 events happening:
1- If ARK's ETF is approved, the fomo market will dump one more segment and it will be beautiful
2- The ETF will be delayed again for some unknown reason, then the market dumps, changes for a while and gradually increases until March 15, when @BlackRock's ETF turns to be approved first, v is more reasonable :))
I like this script more than TH 2, what is your idea? Please discuss further.
I'm seeing some major media channels pushing good news about #Bitcoin ETF again, I'm also serious about the scenario of the market rebounding until January 10, there are 2 events happening:
1- If ARK's ETF is approved, the fomo market will dump one more segment and it will be beautiful
2- The ETF will be delayed again for some unknown reason, then the market dumps, changes for a while and gradually increases until March 15, when @BlackRock's ETF turns to be approved first, v is more reasonable :))
I like this script more than TH 2, what is your idea? Please discuss further.
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Too standard, always good analysis
LIVECryptorphic1
--
🚀 #Bitcoin ETF Roadmap, $54k by January End??🚀
Our last 3 Roadmap charts have been spot-on and quite viral too, Thanks for your support so far!
Let's get back to the chart!
Analyzing the current market conditions, We're still on track to reach the top of the 5th wave, expected to be in the $47,000 to $54,000 range.
Following that, we anticipate an ABC correction.
This upcoming move will essentially confirm the accuracy of our Elliott Wave Theory, which has accurately predicted each wave precisely over the past two months.
Other technical rationale behind this projection:
1. Fractals: Examination of fractal patterns on the charts reveals similar PA during the last 5 months before the halving! (Charts will be posted soon)
2. Multiple Indicators: Various technical indicators align, emphasizing the bullish sentiment including much anticipated ETF News!
3. Elliot Wave Theory: So far every single wave has been on track, the 5th wave will complete our 2-month-long EW Wave.
Anticipate this movement within the coming week, but it's crucial to remain prepared for potential market shifts.
Invalidation point: A close below $41,200 could signal a deviation from the anticipated trend.
If you find this chart useful, please consider giving it a thumbs up and sharing it. Feel free to bookmark it to stay informed about any market shifts.
DYOR, NFA
Thank you
#BTC #CryptoPrediction2024 #BTCETF #BTC/Update
Our last 3 Roadmap charts have been spot-on and quite viral too, Thanks for your support so far!
Let's get back to the chart!
Analyzing the current market conditions, We're still on track to reach the top of the 5th wave, expected to be in the $47,000 to $54,000 range.
Following that, we anticipate an ABC correction.
This upcoming move will essentially confirm the accuracy of our Elliott Wave Theory, which has accurately predicted each wave precisely over the past two months.
Other technical rationale behind this projection:
1. Fractals: Examination of fractal patterns on the charts reveals similar PA during the last 5 months before the halving! (Charts will be posted soon)
2. Multiple Indicators: Various technical indicators align, emphasizing the bullish sentiment including much anticipated ETF News!
3. Elliot Wave Theory: So far every single wave has been on track, the 5th wave will complete our 2-month-long EW Wave.
Anticipate this movement within the coming week, but it's crucial to remain prepared for potential market shifts.
Invalidation point: A close below $41,200 could signal a deviation from the anticipated trend.
If you find this chart useful, please consider giving it a thumbs up and sharing it. Feel free to bookmark it to stay informed about any market shifts.
DYOR, NFA
Thank you
#BTC #CryptoPrediction2024 #BTCETF #BTC/Update
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