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  • 🚀 Bitcoin's Momentum Shifts – Watch This Area! 👀 (19 Feb 2025)

🚀 Bitcoin's Momentum Shifts – Watch This Area! 👀 (19 Feb 2025)

😮 Step Towards the "Bitcoin Gold Standard"! PLUS: MicroStrategy Holds 478,740 Bitcoin, Fort Knox Gold Reserve Questioned & more!

Author

Jonathan Hamblin
February 19, 2025

 

Today’s newsletter is brought to you by Masterworks! Invest in paintings by top-selling artists like Banksy, Picasso, and more!

Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where Bitcoin is now making an upward movement . . .

Slowly but surely . . . great emphasis on the slowly part. 😂

Here is what we have for you today!

📊 CRYPTOCURRENCY ANALYSIS
📌 BULL MARKET BULLETIN

  • Cryptocurrency Headlines - Step Towards the Bitcoin Gold Standard, MicroStrategy's Holding Totals 478,740 Bitcoin & more!

MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS

It is easy to get caught up in wanting Bitcoin to rocket immediately . . .

The hard part is being patient and letting Bitcoin do its thing!

Believe it or not, even though Bitcoin’s movement is more boring right now than waiting in line at the DMV . . .

Bitcoin is doing exactly what we need for a massive movement!

Why exactly do we say, especially since Bitcoin is -0.12% in the last 24 hours? 🤔

Well, young Jedi, that is a question that will be answering in this newsletter!

But before we dive in headfirst into the shallow end - here is a word from today’s sponsor!

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Per usual with this month, let’s begin with Bitcoin’s movement for February.

Last year, February ended with Bitcoin +43.55 . . . right now we are sitting at -5.86%.

That is 1.24% lower than our previous newsletter!

And being that February is normally a historic month for Bitcoin’s movement, a red month is not exactly what I placed on my Bingo sheet for this year!

With Bitcoin being down on the month, does that mean all hope is lost or is it still too early to determine?

Let’s take a look at Bitcoin’s daily chart, brought to you by Byte!

Byte, take it away!

🤖 Byte the Bot: Processing . . . 24-hour decrease of 0.12%, support detected. Falling wedge pattern continues with 95% success rate, Critical support at $95,000!

Thank you, Byte! To answer the question stated above of what is Bitcoin doing to set itself up for a massive movement?

  1. Resistance has Turned into Support

  2. The Bullish Falling Wedge Pattern is Continuing

  3. Sideways Support Continues in the “Bullish Area”

  4. No Overextensions have Occurred to Warrant a Crash

Let’s discuss the support! Even though our resistance has turned into support where the candlesticks currently are . . .

The green line that is ascending on the chart and intersecting with the gold horizontal line is now viewed as resistance!

⚠️ Interestingly enough, $100,000 is a resistance area for Bitcoin’s upward movement even though it is in the “bullish area”.

Let’s also take this into account . . .

The candlesticks that we are currently seeing are becoming shorter. Why is this important?

It shows less movement and more consolidation. This normally occurs before there is a dramatic upward or downward movement.

🔮 Given the support turning into resistance and the bullish falling wedge pattern - we anticipate the upward movement.

But even though we anticipate this movement, what are Bitcoin traders thinking?

Let’s dive into the long-short trading ratio! Hit it, Byte!

💎 Elite Edition members have full access to our full Bitcoin breakdown.

Want full access for less than $1 per newsletter?

Scroll to the bottom of this newsletter to our “upgrade” image.

A complimentary 7-day trial is included! Byte, thanks you!

🤖 Byte the Bot: Bitcoin’s 24-hour ratio sits at 50.65% bearish - 49.35% bullish. Calculating momentum . . . detecting bullish shift with 62% success.

Thank you, Byte. It is like he can read my mind or something!

Even though we are more bearish at the momentum, as the falling wedge formation continues its pattern . . .

This momentum is projected to shift into a more bullish territory.

So, what all should we be anticipating with Bitcoin?

🧠 Bullish Fact! Bitcoin had a massive price peak in April, four years ago! Are we on track for another massive spike this year around the same time?

WHAT TO ANTICIPATE

As we covered previously, Bitcoin’s pullback area is between $73,822.43 and $81,337.62!

Why mention this? Because if we break below $91,257.39 - we could be heading there.

🧠 Let’s keep in mind. Bitcoin is currently holding support with a projection to continue the falling wedge formation.

As Bitcoin is moving more sideways than upward, we are not projecting the cup and handle formation to form soon.

🔍 What we are looking for? We are looking for Bitcoin to break through resistance set around $98,900.

Breaking this resistance would bring us to our next target . . . breaking $100,000!

 🤔 What if the falling wedge formation fails? We do not project that Bitcoin will move outside of the “bullish area” for the remainder of the month.

As we move into March, this month is historically strong and should also bring upward movement for Bitcoin.

🧠 Don’t Forget! This is only the beginning for Bitcoin’s movement, along with many top tier “alt coins” (cough) Litecoin!

BULL MARKET BULLETIN 📌

Libra Token’s Co-Founder Bribed Argentinian President’s Sister? Libra is a token that was supposed to change finance for Argentina. Crazy part? It was endorsed by Argentina’s president! 🤯 After this endorsement, the token went to a market cap of $4.5 billion and within hours crashed 89%! The token’s co-founder is saying that the Argentinian president’s sister was in on it . . . what is happening!?

MicroStrategy Buys Bitcoin While Slashing Workforce! As of December 31, 2024, the company slashed 20.7% of their workforce while $3.2 billion went towards buying 31,270 Bitcoin! As of 17 February, the company said that it owns 478,740 Bitcoins - purchased for a total amount of $31.1 billion at an average price of $65,033 per Bitcoin! At what point will MicroStrategy stop buy Bitcoin? Better yet, at what point will MicroStrategy sell? 😬

What if Fort Knox’s Gold Reserve is Missing? Fort Knox supposedly holds a massive wealth of the United States gold reserve . . . $430 billion to be exact! 😮 But is the gold actually there? There are now bets online to whether or not the gold is there - and what if it isn’t? Is this the step towards making Bitcoin the new gold standard? 👀