💎 Your Exclusive Bitcoin Analytics! (21 Sep 2024)

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Our Archive of Previous Newsletters

Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight that starts the day off right!

Poet and didn’t even know it. 😂

Let’s Explore Today’s Highlights

🧠 Fun Fact: Smallest Fraction of a Bitcoin

📊 Market Breakdown: Bitcoin’s Bullish Success Chance

📌 Bull Market Bulletin: Current News & Stories

📚 Trading Strategies: Bearish Channel

Fraction of a Bitcoin 🧠

The smallest fraction of a Bitcoin…

Many people that are in cryptocurrency may already be familiar with this, but surprisingly…

There are many people that are not. 👀

When people hear that the price of Bitcoin is over $60,000, that automatically say that it is too expensive for them…

But they do not realize that crypto is not like a share in the stock market. 😮

In the stock market, you are not able to buy a portion of a share.

Yes, you can do mutual funds and such, but solely buying 10% of a share of stock is not a thing. 🤔

However, in cryptocurrency, you are able to buy a percentage of a coin or token!

For Bitcoin, the smallest fraction is called a “Satoshi”, named after its creator “Satoshi Nakamoto.

It is also referred to as a “sat”. AKA “Stackin’ sats”. 🤣

A Satoshi is .00000001 of a Bitcoin.

So, someone does not need at least $63,200 (at the current rate) to buy Bitcoin.

In reality, they only need $0.000632 to buy a Satoshi!

What is a Satoshi?

Market Breakdown 📊

Another market breakdown, I wonder how far Bitcoin has gone down…

Wait a second, Bitcoin is actually moving up! 😮

Now we are talking! I feel like the meme from the Titanic where the lady says, “it’s been 84 years”. 😂

For today, we are going to focus heavily on Bitcoin’s movement and projection percentages for future movement.

Overall, we will be covering:

1. Cryptocurrency Heatmap (7-Day)

2. Bitcoin’s Projected Movement

3. Our Thoughts on Movement

Before we get into all of the fun stuff, let’s have a word from today’s sponsor!

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

Cryptocurrency Heatmap (7-Day)

You have to love seeing all of the green in today’s heatmap! 😁

Let’s take a couple of minutes to take in all of the green below.

With the recent spike up in bullish pressure, Bitcoin’s influence has spread through many other cryptocurrencies.

And rightfully so!

As Bitcoin is paired with 90%+ of cryptocurrencies, if it goes up then the trading pair by default will rise in value.

Now, with that said, let’s take a look at Bitcoin’s movement…

There are a few things that need to be highlighted, especially projections!

Bitcoin’s Projected Movement

Let’s start with the great news!

Bitcoin broke through a resistance line and is continuing to push upward! 😃

Now, are you ready for the awesome news?!

Being that Bitcoin broke through the resistance line, we now have a new date to be on the lookout for!

That date is the 14th of October! 📅

We still have the projected dates marked for the 4th of November and 6th of January…

However, Bitcoin’s recent movement may have pushed Bitcoin’s all time high break sooner than expected! 😲

As we see with the most recent candlestick to the far right…

Bitcoin is coming up to another crossing of the bullish and bearish trendlines.

As we have seen in the past, this is a decision marker when it comes to Bitcoin’s movement.

Now, the question is… why is it a decision marker? 🤔

Because traders are the ones that ultimately are moving Bitcoin either up or down.

They are using these trendlines to find support and resistance and trading accordingly…

No one wants to be the only bullish or bearish trader! 😂

And for that reason, they follow the “trend” lines.

Because it shows which is “trending” …

Let’s take a look below to see Bitcoin’s projected movement percentages!

As we can see, we have broken down the percentage for Bitcoin breaking the resistance in the week of the 14th of October.

1. Bullish Continuation - 61.7%

2. Bearish Continuation - 38.3%

The reason for these percentages is because:

1. Current Candlestick is Bottom Wicking

2. We are Currently in a Bullish Pattern

3. Because we Hope and Pray for upward movement 🤣

Our Thoughts on Movement

At the end of the day, Bitcoin is holding the symmetrical triangle pattern.

The reason why this is a nail-biter is because this pattern can result in either bullish or bearish movement.

Luckily for us, we are moving upward which is currently in the favor of breaking higher in October!

🧠 Don’t forget! Trend lines project movement based on how traders use them to trade!

Bull Market Bulletin 📌

Bitcoin Outperforms Majority of Assets! Bitcoin continues to build a name for itself within the finance world. The Bitcoin ETF listing in January of this year was adopted “faster than any new ETF in history”! It is wild to think that the Bitcoin ETFs, which total around $55 billion, are still in their infancy! 🚀

Cryptocurrency Exchange Hacked for Millions! It is never a fun thing to hear that a cryptocurrency exchange has been hacked. For scary thing for this one is that it normally generates over $348 million in 24-hour volume! The amount that it has been hacked for? You will have to click to find out! 💰

Dormant Bitcoin Wallet Reactivates after 15 Years! An early Bitcoin miner has recently transferred their Bitcoin from block rewards that happened back in January of 2009! Whoever this is, this is someone that knew about Bitcoin from the very beginning! This collective transaction added up to 250 Bitcoin, just short of $16 million! In early Bitcoin mining, if you mined one block of Bitcoin your reward was 50 Bitcoin. That is over $3 million at today’s value! 🤯

Presidential Candidate Uses Bitcoin! Former President Donald Trump has done something that the world has not yet seen. A government official, or former depending on how you view it, using Bitcoin as a means of payment! As a result, Bitcoin rose 4.7%!

Bearish Channel 📚

Hello, hello! Awesome to see everyone back again for another educational lesson! 😄

Last week we covered “The Basic of Bitcoin”.

This week we are going to switch back to trading patterns and will be covering…

The Bearish Channel! 📉

Throughout the lesson, we will cover the primary topics of:

1. The Type of Pattern

2. Movement of the Pattern

So, without further ado, grab your pen, paper, and thinking caps and let’s dive in! 🤠

The Type of Pattern

As the name implies, the Bearish Channel is…well, bearish… 😂

However, it does result in an upward trend causing a bullish movement.

As shown below, this is when the movement of an asset has a bullish and bearish line that are parallel to each other.

There are other “channels”, such as the bullish channel, but this one is unique…

Of course, because it is bearish compared to the others that are bullish or neutral.

Now that we see the pattern solely, let’s take a look at how the full chart would look like…

And more importantly, what to look out for… 👀

Movement of the Pattern

Within the “Down Channel” or the bearish channel, we see a continuous pattern.

This pattern is lower highs and lower lows.

This means that the price is constantly moving lower, that is, until the upward channel is created from the downward movement.

Let’s take a look below! 👀

An upward channel can be created for multiple reasons.

1. Over-Selling the Asset

2. Short Sellers Recovering their Positions

3. Bouncing from a Support Line

Let’s take a look at the video below to see the bearish channel, in motion.

🧠 Remember! Even though a movement may be bearish does not mean that it won’t result in bullish movement. 🧠

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