🚀 Bitcoin Rockets! Here's What the Bulls are Watching! |29 Nov 25|

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we give you peak Bitcoin analytics that keep you going even though the bearish of times!

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin’s Daily Movement 

• What to Anticipate Next 

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines 

As November hits a plateau, December looks more and more like the crypto savior that we have all been waiting for!

📊 Bitcoin’s Key Statistics

• November’s ROI = -17.41%

  • (3.21% increase since Wednesday)

• Market capitalization = $1.81T

  • (80B increase since Wednesday)

Historically, December is a “toss up” month, as last December was -2.85% but the December before that in 2023 was +12.18%!

I have been good this year, so I am banking that St. Nick is going to bring me another comma for my portfolio - ha!

Let’s dive into Bitcoin’s daily movement and see what disaster or blessing awaits us, but before we do, a word from today’s sponsor!

BITCOIN’S DAILY MOVEMENT

In Wednesday’s newsletter, Bitcoin had reached the “pullback area” and was moving upwards to find support around $90,000.

We are pleased to announce that Bitcoin has broken key resistance at $88,472.61 and is now pursuing $93,123.16!

As we take a look at the images below, we see the gradual change from bearish to bullish as Bitcoin spikes upwards from $81,322.51 and leaps over $10,000!

Look at that beautiful bullish cup and handle formation!

As we rub our eyes to make sure they aren’t playing tricks on us . . . Bitcoin has found a strong support and is now pursuing $100,000!

Yes, this is the 147th time this year Bitcoin has pursued $100,000. . . but it always brings tears to our eyes.

Now, there are a few obstacles in the way of this milestone being achieved . . . key resistance points!

• $93,123.16

• $95,052.66

• $97,995.63

However, Bitcoin has moved $10,000 in 8 days. All we need is a repeat of this and Bitcoin will be right back to $100,000!

MARKET PSYCHOLOGY

For the past 24 hours, Bitcoin maintains a bearish outlook even through the current price recovery:

• Short (bearish) traders = 53.63%

• Long (bullish) traders = 46.37%

As Bitcoin consolidates around $90,000, we greatly believe that the bullish market is not over anytime soon!

Even though Bitcoin pulled back to ~$80,000 - it did the same thing in April of this year - which then resulted in a new all-time high a month later!

I just wish we knew what to anticipate next . . .

Wait a second! We have a section for that, let’s take a look below!

WHAT TO ANTICIPATE 

Thankfully for us - so we can keep our job here at BullMarketBytes . . . this scenario worked out perfectly!

$81,322.51 is still our target for weighing if the bull market is coming to a close.

📈 BULLISH SCENARIO

Bitcoin has pulled back slightly and is on target for the bullish cup and handle formation completing between the 1st and 4th of December!

. . . I knew we liked December for a reason! Haha.

$88,472.61 is our key support that must hold during the slight pullback which will then complete the cup and handle formation.

Once Bitcoin pushes higher, it must break through $92,064.05 and $93,123.16 with potential slowdown when approaching $95,052.66!

📉 BEARISH SCENARIO

If Bitcoin does not hold above $88,472.61, there is possibility that a bearish inverse cup and handle formation will form! . . . our favorite . . . (Eye roll)

This would lead Bitcoin downward towards $81,322.51 which is not what we, or our portfolios, want to see happen . . .

In this case, $88,472.61 would turn into resistance and the price would bounce below it as a slingshot to break support . . . not ideal!

👀 WATCH FOR THIS NEXT

Keep an eye on how Bitcoin reacts at $88,472.61.

This will show us if Bitcoin is going to be bearish or bullish going into December!

On top of that . . . in the next 72 hours, there is a 95% chance that we have the answer of if Bitcoin is going to break above $92,064.05 or below $88,472.61.

🧠 OUR OVERALL THOUGHTS

Bitcoin can be stressful . . . I used to have flowing hair like Fabio before following Bitcoin’s price, now I look like Mr. Burns from the Simpsons haha!

As we move from “NO!-vember” to December, there is great potential that Bitcoin shows recovery and finishes the 4th quarter off strong.

If this is a repeat of 2017, December may be the month that we have all been waiting for . . . but we believe it will be December - February/March of next year.

To our fellow bulls, trade smart, stay safe, and may the bull guide your gains!

BULL MARKET BULLETIN 📌

Binance is Sued by Hamas Victims. Binance Holdings Ltd. is now facing a lawsuit that claims the platform “knowingly facilitated” transactions by Hamas before the attack on Israel on the 7th of October 2023 . . . your thoughts?

Upbit Suffers from a ₩38.6 Billion Crypto Hack! Thankfully to the professionals at Upbit, ₩38.6 billion ($26,298,180) has been reimbursed to users but unfortunately, ₩5.9 billion ($4,019,670) of their own funds were lost . . .

What’s Next for XRP? Analysts Say the “Bottom” is in. We love our XRP holders and want to give them an early present this year! They say XRP is moving higher . . . an all-time high around the corner, perhaps?

BULLISH OR BULLSH*T? 🤔

🤝 Your opinion matters (we promise)! Give us a rating below and tell us what rocked, what flopped, and what we should charge at next!