💎 Your Exclusive Bitcoin Analytics! (20 Nov 2024)

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Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where Bitcoin has just made a new all-time high!

Is today the day that we break $100,000 . . .

My bank account hopes so! 😂

Let’s Explore Today’s Highlights

📊 Bitcoin Breakdown: Will Bitcoin Break $100K Today?

📌 Bull Market Bulletin: Current News & Stories

🔮 Crypto Projection: SushiSwap (SUSHI)

Bitcoin Breakdown 📊

Seeing that Bitcoin has broken another all-time high does very well for the heart . . .

And for the blood pressure. 😂

One thing that we have been asked is “if Bitcoin keeps breaking the high - why isn’t a majority of cryptos spiking with it”?

You know, it is somewhat discouraging as we are seeing meme coins moving but not others in higher market caps.

However, one thing to note before we cover the analytics . . . this is just the beginning of this bull market run! 🐂

In years past, we saw a strong break upward by Bitcoin and then a crash downward . . .

Easy come - easy go type of thing . . . 🤣

But isn’t it interesting that Bitcoin has a strong push upward and then just sits there doing nothing.

Like me during Monday Night Football. 😄

We aren’t seeing a strong trace back down. Which is somewhat concerning . . . but we are about to get into all of that! 😎

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

1. Overall Market View (7-Day)

2. Bitcoin’s Overall Movement

3. What to Anticipate Next

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

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

Now, let’s dive into the awesomeness that is crypto analytics!

Overall Market View (7-Day)

As we take a look at the weekly cryptocurrency heatmap, there is a main difference from last week . . .

There is more red across the board and lower gain percentages! 😬

Now, this isn’t necessarily a bad thing, we have to keep this in mind . . .

Last week -

1. Dogecoin was at +80.23%, this week we are at +3.00%

2. Pepe was at +93.62%, this week we are at +40.29%

3. Solana was at +7.24%, this week we are at +11.87%

. . . Wait, what the *%&$?

Why is Solana going up, didn't Litecoin Lester roast Solana last week?

Just kidding, just having some fun! 🤣

The thing to keep in mind is that cryptocurrency percentages are lower due to pullbacks - which is a good thing!

We want somewhat healthy movement as we increase in value to lower the chances of a crash occurring.

Now, with all of this said, let’s turn our attention solely to Bitcoin and its movement!

The question of the day is . . . Will Bitcoin break $100,000 this week, or even today!?

Well - let’s take a look at the chart and rub our crystal ball to see what it is telling us! 🔮 

Bitcoin’s Overall Movement

So, the concerns that we have right now are:

1. Is Bitcoin Becoming Overextended?

2. Could the Overextension Cause a Crash?

3. Will I Ever Move Out of My Parent’s Basement?

Yes, yes, and no . . . not likely. 🤣

With Bitcoin’s current movement, we have broken through 3 lines of resistance - sounds good, right?

Well, it has occurred in a short time period, and we haven’t established solid support along the way.

And what happens if there isn’t any support established? 🤔

When Bitcoin’s price retraces, there isn’t anything to hold it up!

As we take a look below, focus on a couple of things with us . . .

1. Bitcoin’s Last Three Candlesticks

2. The Closest Resistance Line to the Current Price

3. How Close We Are to $100,000! 🚀

With the three things annotated above - what we need to keep in mind is the closest resistance line to the current price.

And no, not the one at $93,250.79, but the one at $77,054.52 - this is where Bitcoin could fall to eventually find support.

🧠 ALSO, KEEP THIS IN MIND! As we mentioned earlier in the newsletter - how is this bull market run at the beginning?

In past bull market runs, we have a very strong push upward followed by a crash down . . .

We saw this in 2017/2018 and again in 2021/2022 - however . . .

We are seeing Bitcoin break the all-time high over and over again - yet we are still holding strong!

As Bitcoin actually initiates its rocket to the moon, alternative coins (altcoins) are likely to follow or . . .

Once investors take profits from Bitcoin - they could pour them into altcoins!

Which brings us to our final topic . . .

What to Anticipate Next

Even though Bitcoin is becoming overextended, it continues to break upward - and once it slows down it does not crash . . .

Well, for the time being - fingers crossed! 😂

Bitcoin breaking through $100,000 is imminent - however, we would like to say one thing and it won’t be a popular thing to say.

We hope that Bitcoin holds off on breaking $100,000 and consolidates sideways for a little bit longer.

Now, before everyone grabs their pitchforks and hunts be down in my parent’s basement - hear me out really quick! 😬

We want more consolidation to strengthen Bitcoin’s push through $100,000!

We don’t want Bitcoin to break $100,000 - go to $101,000 and then crash back down to $77,000.

So how do we potentially avoid this . . . consolidation!

🧠 Don’t forget! If you enjoyed this newsletter, please leave us feedback located at the bottom of the newsletter! 🙏

Bull Market Bulletin 📌

NBA Legend Shaquille O’Neal Signs $11 Million NFT Settlement! When he is not on the court dunking (or breaking backboards), he is promoting NFTs . . . according to this story . . . who really knows. 🤣 Back in May, the basketball star was served with an NFT lawsuit during an NBA game . . . seriously? Geez. 🤦‍♂️ Either way, he was caught up in the lawsuit due to advocating for an NFT collection that may have lost many investors money.

The United States and the Idea of a Strategic Bitcoin Reserve . . . We have heard the idea of a strategic Bitcoin reserve from President-Elect Trump, but now there is a new variable to enter into the equation . . . Blackrock! Yes, the company that has over $11.5 trillion in assets under management as of the beginning of this year! I don’t know about you, but a strategic Bitcoin reserve sounds like a cash register going off in my head. 😅

Will Microsoft Be Persuaded to Buy Bitcoin? Bitcoin bull and MicroStrategy CEO Michael Saylor has stated that he will be giving a 3-minute presentation to Microsoft’s Board of Directors. Regarding what you may ask? Well, it is in the title, so I suppose you aren’t asking 😂 . . . but YES! to persuade them to buy Bitcoin! Would this be a move for Bitcoin in the right direction or more power for billion-dollar business to own a majority of Bitcoin . . . or both?

Crypto Projection 🔮 

For those that may have missed it last newsletter, 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

For today, we will be covering Sushi Swap!

Sushi Swap’s Current Price: $0.7729
Current Market Cap: $202,313,670

Previous All-Time High: $23.38 (according to CoinMarketCap)
Previous All-Time High Date: 13 March 2021

Potential Low Price (2024-2025): $9.02
Potential High Price (2024-2025): $12.84

• Circulating Supply has grown exponentially since the previous ATH

• Price has high emphasis on Decentralized Exchange (DEX) hype

• SushiSwap is not as relevant with new technologies

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

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