This Country Launches Next Bitcoin ETF! 🚀

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Welcome to Bull Market Bytes!

The bullish cryptocurrency newsletter where we give you the tools you need to take the crypto market head on!

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Today’s Bullish Topics

🥳 Fun Fact in Crypto

📰 Australia Approves ETF

📊 Bitcoin’s Bullish Analytics

📌 Bull Market Bulletin

📚 Bump & Run Formation

Fun Fact in Crypto 🥳

With the thousands of cryptocurrencies now available, it is hard to select which one is a top performer…

Or the one to invest one…

But investments aside…which one is used the most for transactions? ‍🤷‍♂️

At the end of the day, cryptocurrency is currency…right?

So, is it Bitcoin? or maybe even Ethereum?

No, it isn’t the Top 2 cryptocurrencies by market cap…but what about the #19 cryptocurrency by market cap?

Litecoin! 👀

Interesting how the most used cryptocurrency for transactions is not even in the Top 10…Possibly undervalued? 🤔

Either way! Litecoin is the victor for the past 6 months!

View the full analytical breakdown here!

Australia Approves ETF 📰

Bitcoin’s influence continues to grow, you have to love to see it!

So which country is next on the map for Bitcoin to take over? I mean…integrate into their exchange. 😅

No other than Australia (not Austria) …spelling is close 😂

Australia’s largest exchange, The Australian Securities Exchange, (ASX) has approved its first spot-Bitcoin ETF!

So, why is this such a big deal? We have spot Bitcoin ETFs in the United States that are performing at high levels!

Well… the primary thing we need to keep in mind is the acceptance. 😎

Even if the Bitcoin ETF were to flop, we now have another government on board with Bitcoin…

In my mind, they are advocating for Bitcoin and do not want to see it fail.

Below are some additional benefits of the newest listing! 👇

This is just the beginning for the spot Bitcoin ETFs.

And with the more countries that list it, the more the acceptance and the overall desire for Bitcoin to be successful.

This may even be on track for Bitcoin to become a worldwide accepted cryptocurrency.

Only time will tell… ⏰

Bitcoin’s Bullish Analytics 📊

Here we are again…looking at Bitcoin go down the drain with my hopes and dreams… 😂

Just kidding, slightly…

Either way, we are all experiencing a Bitcoin pullback, which naturally occurs in markets.

So, let’s go ahead and dive into what we are seeing on the charts. 📊

Throughout the last couple of weeks, we have covered over the “Moment of Truth”, and the time has finally come.

As shown below, we see that Bitcoin has broken the support line and we are starting to move even lower.

Before we all start panicking, keep in mind…Bitcoin is around $65,000!

A year ago, Bitcoin was only $26,000… so even though it is pulling back, we have come so far! 😎

As shown above, we are currently experiencing a descending triangle formation.

With this type of formation, we normally end with a further push down after eventually breaking the support line.

Now, again… before we all jump ship and cash out our crypto to invest in Furby dolls, we do have a saving grace. 🙏

But before we cover that…

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So…back to our saving grace…Even though further downward movement is projected, we have a close support line.

This line sits around $60,000, which is also a mental support because it is a whole number.

If Bitcoin were to break through $60,000, we may be in somewhat of a freefall because there is less support established…

We have to remember; Bitcoin has gone up quick and held in the $60,000 range…which is awesome but held without making new support.

For our timeline: By the 24th-25th of this month, if not before, we should have an answer…further downward movement or consolidation in price…

🧠 Don’t forget! Pullbacks are healthy! Sooner or later, people will sell their positions while others will newly buy in…it is just the cycle, and you have to hold on tight!

Bull Market Bulletin 📌

NATURAL 20: This is your opportunity to increase your productivity and profits with AI! Click here to join this daily AI newsletter with a side of business insight.

Binance Co-Founder Urges Elon Musk: The co-founder of Binance has questioned whether Elon Musk has the ability and knowledge on tackling crypto scams occurring on X (Twitter)…Interesting. 🤔

The SEC Could Decide the 2024 Presidential Election: According to this billionaire, President Biden needs to choose crypto or Gensler…

This Rap Artist Just Tattooed his Forehead with Crypto! To celebrate his meme coin, this rap artist just tattooed a cryptocurrency name on his forehead…his fans are disappointed…I am just confused… 😂

This Telegram-Based Crypto Game is Booming! This Mortal Kombat spin-off has just soared to 150 million players, that is 50 million more compared to last week!

Bump & Run Formation 📚

Welcome back! We have a treat for you today over a formation that no one has ever heard of. 😂

Okay, I am sure some people have…but it isn’t one of the more popular ones.

So, follow-up question to that…why are we covering it then? 😅

Because the more knowledge you have the more confidence when pulling the trigger to enter or exit a trade! 🧠

For today, we are covering the Bump and Run Formation!

The Bump and Run is a formation that provides a strong support and also a strong push in upward movement…

⭐ With that said, why is it overall a bearish movement? ‍🤷‍♂️

Well…let’s take a look at the image below!

We have a build-up in the beginning of the formation which ultimately does result in a strong push upwards…

However,… this push does result in a massive downward turn.

Now, with this said…there are two primary ways that someone could trade this formation.

Traditional trader: Entering a long position and waiting for the bump to occur to exit the position for profit.

Short Seller: Waiting for the peak of the bump to enter the position and then exiting the position when the breakout downward occurs.

With much experience, someone could actually do both types of trades and profit two times…

Let’s take a look at the video below created by @infwarrior and see how the Bump and Run formation is created…

Step by step…

Understanding the different trading patterns will provide you more knowledge when deciphering the formation being created.

🧠 Remember! Understanding both traditional sellers and short sellers is key! 🔑

If you can forecast their movement, you can use it to your advantage!

Lesson Review Question

📚 Make sure to review the lesson above before answering!

Question: What type of formation is the Bump and Run?

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