📈 Bitcoin Reverses! – Litecoin ETF Submitted! (18 Jan 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where the tides have turned, and Bitcoin is prepping its rocket to the moon!

Time to call up all of the people that doubted Bitcoin! 😎

Here is what we have for you today!

📊 CRYPTOCURRENCY ANALYSIS

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

• Bitcoin Technical Analysis - Bitcoin Breaks through 2 Bearish Formations! Featuring: Litecoin + Nasdaq = 🚀
  

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

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - Litecoin ETF Filed, Cryptocurrency Millionaires Demand Trump & more!

MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS

For a while, Bitcoin was more indecisive than me picking a movie at Blockbuster . . .

Now, we are gaining traction towards the all-time high!

We are at a massive $3.7 trillion crypto market cap, but will crypto continue to climb?

And more importantly, should we anticipate a new Bitcoin all-time high?

We have looked deep into our crystal ball and will be covering those exact questions - but before we do . . .

Let’s tune in for a word from today’s sponsor!

Thank you to Wallstreet Prep for sponsoring today’s newsletter - now let’s dive in!

According to our last newsletter — check it out here — we had three options for Bitcoin’s next move:

1. Break Below the Descending Triangle & Continue Downward

2. Break Above the Descending Triangle & Maintain the Bear Flag

3. Break Above the Descending Triangle & the Bear Flag Formation

It appears that the last newsletter’s “long-short ratio” analysis played a big part and number 3 was the correct answer!

Now that we have correctly anticipated the move, what happens next?

Let’s take a look at the chart below, presented by Byte the bot!

Now that we have broken upward through the 2 bearish formations - the bear flag and descending triangle - we must focus on 2 more things!

1. Holding the Yellow Horizontal Line

2. Continuing the Yellow Cup and Handle Formation

The yellow horizontal line is key because we need to establish support at 6 figures!

With the cup and handle formation, it gives us wiggle room for a pullback - but again - we don’t want to break the yellow horizontal line.

The US Presidential Inauguration may expedite Bitcoin’s upward movement, but if it doesn’t . . .

We still have a path that we can follow until early March!

As we approach the next all-time high, the question is . . .

Drum roll, please!

What happens after Bitcoin breaks the all-time high?

Check out our What to Anticipate section below for more!

Featured Cryptocurrency Analysis: Litecoin - the self-proclaimed meme coin.

Oh, Litecoin . . . you either love it or hate it . . .

But we can all agree that we are surprised that Litecoin is +10% today (at the time of writing this).

So why the out of nowhere hype with Litecoin?

There are two primary documents when applying for an ETF and both must be submitted for a potential approval:

1. SEC Form S-1

2. Form 19b-4

Both documents have been submitted! Because of this, investors are prepping their portfolios in anticipation for massive gains!

Let’s direct our attention below to Byte for Litecoin’s weekly chart.

We see 2 bullish indicators that project upward movement:

1. Ascending Triangle Formation

2. Green Support Line

The red line in the middle of the chart is previous resistance that Litecoin rocketed through!

What We Love: Litecoin is making a healthy move towards the previous all-time high of $412.96!

No major overextension - just barely pressing on the gas pedal . . .

We need Litecoin to hold $120 and consolidate to establish support, so a minor pullback is acceptable!

Not desired . . . but acceptable . . .

🧠 Bullish Fact! Ethereum has a spot ETF - if Litecoin has a spot ETF and matches Ethereum’s market cap, each Litecoin would be ~$5,400!

WHAT TO ANTICIPATE

If Bitcoin breaks the all-time high of $108,268.45, it must turn that area from resistance into support!

As we said in our previous newsletter . . .

Bitcoin did exactly that and we now have a bullish cup and handle formation!

Bitcoin must take this opportunity to build on the bullish formation and not turn back into a bearish formation . . .

Bitcoin’s Big “What If”: If Bitcoin bypasses the second portion of the cup and handle formation, we will see a new all-time high the week of the 20th of January . . .

Sound familiar? That is the week the US Presidential Inauguration is happening!

🧠 Don’t Forget! Bitcoin is #7 by asset market cap in the world! If it doubles to $200,000 - then it will become #2!

BULL MARKET BULLETIN 📌

Crypto Executives Pay Millions for Presidential-Level Attention! With President-Elect Trump’s Inauguration on the 20th of January, executives are lining up - but it comes with a hefty cost! It is reported that Ripple executives’ attendance came in at 50 million along with a spokesperson from Coinbase at $45 million! Will it now become that a cryptocurrency must be on Trump’s “good side” to succeed?

Litecoin’s Big Step Towards Becoming the Next Spot ETF! Since Bitcoin and Ethereum’s spot ETF listing, everyone has been wondering . . . which cryptocurrency will be next? It appears that the answer may be closer than we think! 👀 The Nasdaq has just filed the 19b-4 form for Canary Capital. 😮 This starts the regulatory review clock for Litecoin - now we play the waiting game . . .

Top Italian Bank Buys Bitcoin per Wealthy Client Demands! As Italy moves to embrace digital assets, Intesa Sanpaolo — the country’s largest banking group with over €100 billion in their securities portfolio — announced that it is ready to address this demand! How exactly did they do this? Shortly after this announcement, they confirmed a purchase of Bitcoin worth approximately €1 million! 🤯 Is this only the beginning for Italy’s crypto integration?

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