🚀 Bitcoin Holds - New Month, New High? (1 Feb 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we have all forgotten about our New Year’s resolutions . . .

Except one - to buy a Lamborghini when cryptocurrency rockets! 😎

Here is what we have for you today!

📊 CRYPTOCURRENCY ANALYSIS

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

• Bitcoin Technical Analysis - Historical Performance in February!
  

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

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - Final Step for Litecoin's Potential ETF, Czech Explores $7 Billion Asset Reserve, and more!

MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS

Cryptocurrency has come so far in 15 years!

We are no longer focusing on “if Bitcoin will make it” but on “which ETF will be approved next!”

Our current struggle is when Bitcoin will break through $109,000 not $9,000 like in 2019.

So, let’s focus on that more — when is Bitcoin’s next strong break happening?

We will even add to that . . . will February assist Bitcoin in this strong break based on past historical performance?

Today we will be covering this exact topic — but before we do — let’s tune in for a message from today’s sponsor!

Thank you to 1440 Media for sponsoring today’s newsletter!

For the past few weeks, we have been examining Bitcoin’s weekly chart however we are switching it up today!

We will be taking a look at the daily chart, which gives a more detailed look at the price movement.

This allows us to see how close we are holding our bullish indicators . . .

And more importantly, if they are working!

Let’s direct our attention below to Byte for further insight!

Take it away, Byte!

The chart above is the same one seen in our last newsletter — click here to view it — but it is magnified to show movement on the daily scale.

What is the big takeaway that we see immediately after looking at this chart?

Bitcoin is following the cup and handle formation perfectly!

We honestly couldn’t ask for a more textbook movement.

However, there is one major thing we may not like after looking at this.

According to the cup and handle, Bitcoin will not break the current all-time high until the 10th of March.

On top of that . . . if we follow the green support line, Bitcoin will not break it until the last week of March . . .

Does that mean that Bitcoin can’t break it sooner? Absolutely not!

Believe it or not, February is a monster of a month for Bitcoin’s movement - historically speaking.

Let’s direct our attention back to Byte who will show us why we should all be celebrating that February is here!

Byte, you know what to do!

As shown above, Bitcoin’s performance has shown double-digit gains in two-thirds of the past February’s dating back to 2013!

Just last February, we gained +43.55% - that would send Bitcoin to ~$146,421 at today’s price of ~$102,000!

Also, Bitcoin’s price saw an increase with the past 4 years!

This could be a great month for Bitcoin — and let’s even look at March!

🧠 This is interesting! Bitcoin’s cup and handle and support both end in March . . . and the past 3 out of 4 years have been double-digit gains in that month!

Could February and March be the months that we have been waiting for?

Make sure to check out more in our “What to Anticipate” section below!

🧠 Bullish Fact! Historical movement is always something to keep in mind — as we may know — history tends to repeat itself!

WHAT TO ANTICIPATE

If we continue to follow the cup and handle formation, we will inch closer towards $100,000 - which is a key support!

In our last newsletter, we said this in anticipation if Bitcoin were to break below $100,000.

We currently have a support ~$101,500, but it is unlikely that this will hold if we continue the cup and handle formation.

The two factors that must hold for a break of the all-time high this month or next month:

1. Cup and Handle Formation

2. Support Line

We will say that chances are very high for a new all-time high very soon - given the historical data above.

What if Bitcoin breaks the all-time high? Then we will all hope that it isn’t a repeat of microscopic movement afterwards!

Let’s not get ahead of ourselves, we all want Bitcoin to break through $1 million tomorrow, however . . .

Sideways movement is very positive, even though it may be boring to watch.

When Bitcoin breaks the all-time high, this foundation of sideways movement gives comfort to traders that it won’t plummet to “0” during the pullback.

When do we anticipate the all-time high break? To play it safe, we believe within the next 4 weeks, but don’t quote us on that.

As we have all seen, market conditions can change in the blink of an eye . . .

One second you are eating Top Ramen and the next lobster on a yacht!

What if Bitcoin breaks below $100,000? As we said last newsletter, we would then depend on two support areas:

1. Support around $94,000

2. Support around $92,000

If these two areas break, that is when we would anticipate Bitcoin moving down to the “pullback area” . . .

The pullback area is $73,822.43 to $81,337.62!

We are in bullish territory right now for the pullback area to be reached, but like we said - market conditions change quickly!

We are all looking forward to what happens next — good or bad . . .

🧠 Don’t Forget! Keep in mind . . . holding above $100,000 is essential! If we break below, we have to build and that takes more time!

BULL MARKET BULLETIN 📌

Combined Bitcoin & Ethereum ETF Coming Soon? The Securities and Exchange Commission (SEC) has partially approved an application submitted by Bitwise Asset Management . . . a combined cryptocurrency ETF! So, instead of working towards a new cryptocurrency, we are just combining already approved ones. So awesome . . . 🙄

Czech Explores $7 Billion Reserve but Overlooks Bitcoin! There has been much talk regarding a “Strategic Bitcoin Reserve” and many countries are pondering this idea. You would think that Bitcoin, the OG crypto, would be the victor but Czech’s Finance Minister warns against it due to the volatility. Which asset would they consider? Could it be another cryptocurrency? 👀

The SEC Official Acknowledges the Spot Litecoin ETF Proposal! This marks a significant step towards the spot Litecoin ETF being approved as we move into the stage where public comments are made! Senior ETF analyst, Eric Balchunas, stated that this is the first altcoin ETF filing to be acknowledged by the SEC and the closest to meet regulatory requirements! 🤯 This current stage could take up to an additional 240 days . . . but what if it doesn’t?

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