📉 Bitcoin Dips - Here's Our Game Plan (11 Jan 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we equip our headbands and watch Bitcoin make its next move!

We may need wristbands as well . . . 😅

Here is what we have for you today!

📊 CRYPTOCURRENCY ANALYSIS

• Market Overview (7-Day) - Top Crypto Gains & Losses (Weekly)

• Bitcoin Technical Analysis - Will the Bear Flag Formation Break? - Looking at the Next Possible ETF . . . Litecoin!
  

• What to Anticipate Next - Insight to Keep you One Step Ahead

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - CEOs Want Presidential Recognition, Advisors Recommend Crypto, and More!

MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS

It like playing ping pong with all of this back and forth!

Even though Bitcoin is holding around $94,000, it has us on the edge of our seat as we slowly move towards $92,000.

The saving grace may be the 20th of January with the US Presidential inauguration . . . but what happens until then?

And if we break below $92,000 - do we continue down to $80,000? . . .

There is more mystery than a Stephen King novel!

Before we dive into today’s analytics, let’s take a seat, grab some popcorn, and direct our attention to the screen for a word from today’s sponsor.

Thank you to VaultCraft for sponsoring today’s newsletter - now let’s dive into today’s analytics.

As shown in the chart below - If Bitcoin holds the bearish flag and continues to hold . . .

This can be viewed multiple ways:

1. Great time to buy the dip and add to your position

2. Sideways consolidation is occurring for future upward movement

3. The market is undecided in its next direction

Let’s take a look below and welcome Byte the bot who will present to us Bitcoin’s weekly chart - take it away, Byte!

It may be clear, but Bitcoin is favoring bearish movement. The Bearish features that are in Bitcoin’s weekly chart include:

1. The bear flag formation is continuing

2. Current wicking candle showing downward pressure

3. Support line broken (shown by the green line)

If Bitcoin does break downwards (which is the result from a bear flag formation), then we approach the “pullback area”.

Pullback Area: Price area for Bitcoin to regain support and continue upward.

When calculating if we are going to have a break downward, we must keep in mind.

1. The long-short trader ratio. (short sellers push down the price)

2. Continuation of the bearish formation (or if a bullish “cup and handle” formation develops)

3. World events such as rate cuts and outside factors

We will discuss this more in the “What to Anticipate” section - but as an extra with the introduction of Byte, let’s take a look at Litecoin!

Litecoin is the new toy that every kid forgot about - works perfectly but thrown in the closet to be found another day. 😂

So, why bring Litecoin out for today? Well, it may be the next spot ETF to be announced!

Let’s direct our attention to the chart below and let Byte take the steering wheel.

Litecoin’s previous all-time high was at $412.96 on the 9th of May in 2021 - we are currently sitting at only 25% of that!

From the weekly chart above, we are approaching where the support and resistance meet - which could yield a push upward.

And let’s not forget, ETF news would rocket Litecoin into the stratosphere!

For higher movement from Litecoin - there must be a consolidation in the triple digits . . . breaking below would be a price reset.

And as we said, the toy may have attention right now but could easily be thrown back into the closet!

🧠 Bullish Fact! Out of Bitpay’s last 237,000 crypto transactions, Litecoin was the most used at 31.82% and has been the most used since June!

WHAT TO ANTICIPATE

For Litecoin: We need to hold the triple digits as a dip back to double digits will be a highly bearish indicator.

By the end of January, Litecoin will have either:

1. Broken the support line and continued towards the double digits

2. Broken resistance and continued higher into the triple digits

For Bitcoin: The bear flag formation is daunting for investors and a break downward could initiate panic selling.

However, as we said within our previous newsletter . . .

If Bitcoin turns the bear flag formation into a cup and handle formation - we will see a shift from bearish to bullish!

By the end of January, Bitcoin will have a more defined look as investors are waiting for the 20th of January.

What Do We Do in the Meantime? Continue to watch Bitcoin’s price to see if a break and continuation below $92,000 occurs.

If the continuation does occur, a movement to $80,000 - $85,000 is a HIGH PROBABILITY!

🧠 Don’t Forget! We are still holding around Bitcoin’s previous all-time high! This is testament that Bitcoin is only beginning and a new all-time high is likely!

BULL MARKET BULLETIN 📌

Crypto CEOs Demand Access to President Elect Trump! As the Presidential Inauguration on the 20th of January approaches, cryptocurrency CEOs have one thing on their mind . . . How can I get a seat on the planned crypto advisory council? This council “may be comprised of about two dozen CEOs and founders - and everyone is seeking exclusive access!

Survey Says! - 56% of Advisors More Likely to Invest in Crypto in 2025! Believe it or not, cryptocurrency is still in its infancy! According to a survey conducted by Bitwise from November 14th to December 20th of last year, more than half of United States-based financial advisers are more inclined to invest in cryptocurrency due to Donald Trump’s presidential victory. 🤯 Is this the year we have been waiting for?

Ripple CEO Meets with Trump - Expects XRP ETFs “Very Soon”! XRP holders are going to love this one! The Ripple CEO met with Trump and shared high hopes for an XRP ETF to be launched in the near future. Firms like 21Shares & Bitwise have already filed for the launch of an XRP ETF. Will XRP be the next ETF or will it be Litecoin or Hedera? 🤔

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