📈 Bitcoin Recovery Begins? - We Think So! (11 April 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where Bitcoin has more ups and downs than a rollercoaster!

Every dip makes me more and more nauseous! 😅

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin Technical Analysis - This is Where Bitcoin Recovers?

• What to Anticipate Next - Fear is Amongst Us! Take Advantage of it!

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - NFT Sells for $10 Million Loss, Cash App Fined $40 Million, Bitcoin Mining Facility is an elaborate Disguise & more!

BITCOIN TECHNICAL ANALYSIS

Bitcoin has been bouncing around a lot throughout the month of April . . .

In our last newsletter of Wednesday, Bitcoin was down -6.35% in April and now we are at +0.91%.

That leads us to the question . . . is April going to be the month that Bitcoin turns it around?

Bitcoin ended February at -17.39% and March at -2.30% - is a month with positive Bitcoin movement too much to ask for?!

That is what we will be discussing more throughout this newsletter but before we do, a word from today’s sponsor!

Thank you to Morning Brew for sponsoring today’s newsletter!

I was speaking with a gentleman the other day that was yelling at the television as the S&P 500 price was broadcasted live.

He said that he was losing all of his money and was blaming everyone known to man for why this was occurring.

He refused to buy the dip and said that he had been buying for a long time and was tired of buying . . . wrong answer!

🎯 When the price is down, historically this is the time to buy and reap the reward!

Bitcoin has had massive swings throughout its lifetime.

• 2013 - Bitcoin breaks $1,000 then pulls back to ~$250

• 2017 - Bitcoin breaks $20,000 then pulls back to ~$3,200

• 2021 - Bitcoin breaks $69,000 then pulls back to ~$15,000

I could go on and on . . . but do you see the pattern? Even though a pullback occurred, it was followed up by an even more massive upward movement!

Not financial advice, but buying the dip allows an investor to gain more of an asset at a lower price and lower their cost average!

Either way, legend has it that the man is still standing at the same television, and you can hear his yelling to this day . . .

So, how is Bitcoin doing today? Let’s direct our attention to our resident AI, Byte, to see what he has for us!

🤖 Byte the Bot: “Bitcoin broke into the pullback area with massive buying pressure to send it back above. The previous descending triangle now acts as support.

Movement towards previous resistance at $92,640.05 is highly probable if momentum breaks through resistance at $88,000. Congrats “dip buyers” . . .”🤖

Yes, congratulations indeed . . .

📈 As discussed in Wednesday’s newsletter, there was massive buying pressure that occurred at the bottom of the “pullback area”.

However, this pressure is not only traders that are buying Bitcoin in hopes of continued movement but those that are exiting their short positions!

🧠 Remember: “short sellers” are betting that the price will go down, but they must “buy” to exit their positions.

That means Bitcoin’s recent buying pressure was a combination:

• Traders buying the dip in price to add to their holdings

• Traders buying to exit their short position and take profits

⚠️ You cannot take the market at face value! Just because “yay, coin go up!” doesn’t mean we can take off our sweatbands and relax.

Don’t worry! Check out the “What to Anticipate” section below for our thoughts on Bitcoin’s projected movement!

WHAT TO ANTICIPATE

The million-dollar question . . . what is Bitcoin going to do next?

In Wednesday’s newsletter, we stated:

🏆 We will add this to our list of correct market projections! Bitcoin did recover from the dramatic downward movement.

Now, the second portion would be if this is going to be short-lived . . .

📈 The positives:

• The descending triangle formation has turned into support

• We found support in the “pullback area” to keep Bitcoin from freefalling

• Bitcoin could be forming a bullish “bull flag formation”

📉 The negatives:

• With the current candlestick, Bitcoin could easily drop in price

• World media is still inciting fear into the market

 🤔 What if Bitcoin moves upward? A sideways movement may be more realistic at this time since the strong push upward has occurred.

At that point, we would see the bull flag formation take shape - where it would hold support around $82,000 - $85,000.

🤷‍♂️ What if Bitcoin moves downward? Then I will be joining the gentleman I mentioned earlier that was yelling at the television.

On a more serious note, we would focus on $81,322.51. If Bitcoin breaks this and sustains below it . . . then we will be seeing a lot more of the “pullback area”.

🌍 In a perfect world: Bitcoin would hold above $81,322.51 through the 16th of April, which is still the merging of the support and resistance lines.

Even though it broke below the date occurred - it was not sustained - and it immediately pushed back above in price.

 💭 What are our final thoughts? There is a lot of fear in the market right now but remember in our last newsletter - there has always been periods of fear.

• Global Financial Crisis (2007-2009)

• US - China Trade War Escalation (2018-2019) - sound familiar?

• COVID-19 Pandemic Crash (February - March 2020)

Everyone wants to be a zillionaire (just made that up) from cryptocurrency investing, but you have to be “smarter than the average bear” or bull . . .

Don’t be the gentleman yelling at the television, be smarter! If you let fear control you, you will never be the zillionaire you aspire to be!

. . . and scene. 🙇🎭

BULL MARKET BULLETIN 📌

Arcade Disguised as a Bitcoin Mining Facility? Years ago, businesses were disguising themselves to hide electricity use and dodge regulations so they could mine Bitcoin. It appears that times have changed! In South Korea, an arcade disguised itself as a Bitcoin mining facility as they did not have the proper license! You must have a license to run an arcade that converts game points into cash - so I guess this was the best that they could come up with . . . 😂

Cash App Violates Consumer Protection Laws! The New York Department of Financial Services determined that Cash App failed to monitor “high-risk” Bitcoin transactions. What is the fine associated with this? $40 million! 🤯 The parent company “Block” was allegedly too slow in reporting suspicious transactions to regulators and failed to adequately screen “high-risk” transactions. Be safe out there!

NFTs Continue to Sell for a Loss! Are you interested in buying JPEGs off the internet? Before you do, listen to this story! CryptoPunks was once viewed as a “top dollar” investment and saw a record of $56 million in sales in 2024! As of recently, the third-highest priced NFT was CryptoPunk #3100 which just sold for 4,000 Ethereum! Sounds impressive, right? That NFT was originally bought for $16 million and just sold for a $10 million loss! That may make it hard to sleep at night after that one!