💎 Your Exclusive Bitcoin Analytics! (16 Nov 2024)

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Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where Litecoin has stated on X that it now is a memecoin…?

I’m not sure what is happening, but I am grabbing the popcorn for this one! 🍿

Let’s Explore Today’s Highlights

📊 Bitcoin Breakdown: Bitcoin Support & Resistance

📌 Bull Market Bulletin: Current News & Stories

🔮 Crypto Projection: Shiba Inu (SHIB) (Re-Run)

Bitcoin Breakdown 📊

This past week has given a lot of hope to traders and investors that have been holding crypto for a long time . . .

Now, that crypto is becoming more widely accepted, it isn’t the “uncool” thing anymore.

Even Litecoin has reimaged itself as a memecoin! 😂

On X, Litecoin stated that “due to current market conditions I now identify as a memecoin”.

This is ultimately what gave birth to “Litecoin Lester” . . . yeah, I don’t believe anyone saw this coming. 🤣

Now Litecoin is up +24.72% this week alone!

Also, XRP is now approaching its previous all-time high from 7 years ago . . . 7 YEARS!

And that is just it . . . you never know what is going to happen next in cryptocurrency.

For today’s topics, we are going to be covering:

1. Overall Market View (7-Day Heatmap)

2. Bitcoin’s Overall Movement

3. What to Anticipate Next

(Static) Please standby for a quick word from today’s sponsor!

Thank you to CBDistillery for sponsoring today’s newsletter! 🙏

Overall Market View (7-Day Heatmap)

Taking an overall look at the top cryptocurrencies by market cap gives a great idea of market movement.

This is our opportunity to cover cryptos, aside from Bitcoin, and how their movement is going . . .

So, let’s take that opportunity! 🤣

Dogecoin is one that immediately stands out within the heatmap below, and why is this?

Because Elon Musk has developed a department called the “Department of Government Efficiency” (DOGE) . . .

I don’t believe President Elect Trump knows that this is a troll . . . or maybe he does. 🤔

Also, congratulations to the XRP holders out there! It has been many moons since the all-time high (7 years) . . . 😅

We also see that Binance Coin, Ethereum, and Solana may have a lower percentage for the week . . .

But they are consolidating which is a bullish feature at the moment!

If I have left out your favorite crypto, let us know and we will cover it next newsletter! 😃

And now we are to Bitcoin, the big dawg, the OG . . . as some may call it. 😂

Bitcoin is currently showing +17.92% and has made a very strong push to $100,000!

And to let you in on a little secret . . .

When it hits $100,000, there will be an explosion! 🚀

Hopefully an upward explosion, not a downward one . . . 🤣

Let’s cover a little bit more into this.

Bitcoin’s Overall Movement

Now that Bitcoin has had a pullback, we are able to do two things . . .

1. Set a new line of resistance

2. Set a new date of collision

For this new line of resistance, this is set around the all-time high which is $93,434.36 which occurred on the 13th of November.

This new date of “collision” (when the support and resistance trend lines collide) is set for the week of the 3rd of March.

So, the two weeks that we are currently keeping in mind are the:

1. 3rd of March

2. 7th of April

One question that may arise is . . .

If Bitcoin does have a strong pullback, where do you think the price will pull back to? 🤔

When taking a look at the chart above, we always want to see resistance lines turn into support lines.

What can assist this in happening is traders want to get the best price possible . . . they don’t want to buy the top.

Well, for the most part unless someone gets FOMO. 😂

They will set their buy orders around the previous strong resistance, and in this case . . .

It would be around the previous all-time high that was set in March around $73,000.

It seems like such a pullback, as we are currently pushing up towards $90,000, but let’s not forget . . .

Since the beginning of November, Bitcoin has moved from $67,000 to $93,000! 🤯

And as we like to remind everyone as fast as it can move up it can move as fast down.

What to Anticipate Next

At this current time, Bitcoin is holding strong . . . even after the massive move from $67,000 to $93,000! 👀

Now, that doesn’t mean there isn’t going to be a pullback in price.

If that does occur, it should be anticipated, and we shouldn’t sell our life savings in crypto for an investment in Furby dolls. 🤣

Pullbacks in cryptocurrency are natural as the market will always tend to the two sides . . .

1. Buyers

2. Sellers

And being that we are still in the bull market, the buyers will take precedence. 😎

🧠 Don’t forget! Everyone is anticipating Bitcoin’s move to $100,000 . . . you may want to as well. #NFA #DYOR #LitecoinLester 😂

Bull Market Bulletin 📌

Bitfinex Hacker Sentenced to Federal Prison! Through all of the stories that we have covered, it always seems that hackers always get what is coming to them. 😅 This hacker stole billions worth of Bitcoin from Bitfinex in 2016! Granted, they were sentenced to five years in prison and another fun fact… they pled guilty to conspiracy to commit money laundering in August 2023… Appears to be a double whammy! 😬

Upbit Exchange Accustomed for over 600,000 Violations The major South Korean cryptocurrency exchange, Upbit, is reportedly suspected of breaching Know Your Customer (KYC) procedures. These procedures are in place, so exchanges are accurately reporting for tax purposes and other reasons. Now to the fun part… Upbit may be charged $71,500 per case in addition to potential issues with its business license. That seems like a lot of money… 😮

What Exactly Does President-Elect Trump Mean for Crypto? So the United States’ presidential election has concluded and shows Trump on top… is this a good thing? 🤔 Well, there are a few things that have increased in possibility of occurring. We have the Bitcoin strategic reserve, possibly crypto bills being passed, and a few other key areas that may assist Bitcoin in pushing over $100,000…

Crypto Projection 🔮 

For those that may have missed it last week, we selected Shiba Inu!

Shiba Inu’s Current Price: $0.00002677
Current Market Cap: $15,551,185,086

Previous All-Time High: $0.00008894 (according to CoinMarketCap)
Previous All-Time High Date: 21 October 2021

Potential Low Price (2024-2025): $0.00004840
Potential High Price (2024-2025): $0.00007804

• Circulating supply is ever-growing

• Competitor with Dogecoin, thrives on meme coin attention

🧠 Remember! This is not a call to action! Conduct your own research!

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