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💎 Your Premium Cryptocurrency Insight! (08 Jan 2025)
Bitcoin Bulls Eye Key Levels! 🔍 Where Bitcoin is Headed & How to Benefit from the Dip! 📈
Jonathan Hamblin
January 08, 2025
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Welcome back to
BULL MARKET BYTES
Your byte of cryptocurrency insight where we provide you crypto analytics so you can impress everyone at your upcoming high school reunion!
Been there - done that . . . 😅
Here is what we have for you today!
📊 CRYPTOCURRENCY ANALYSIS
📌 BULL MARKET BULLETIN
Statistics as of: 07 Jan 2025 @ 11:55pm EST
MARKET OVERVIEW (7-DAY)
BITCOIN’S TECHNICAL ANALYSIS
What a fun game it is - for Bitcoin to go above $100,000, then back below (a rinse and repeat type of thing).
I know we are all ready for Bitcoin and other cryptos to moon, but when will this fun game of back-and-forth end?
We have to think like a Bitcoin bull and remember that they want to continue to accumulate before the all-time high push!
Once Bitcoin breaks above $108,000 - there may be no stopping it!
But before we dive in any further, let’s pump on the brakes and give our attention to today’s sponsor!
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Thank you to 1440 Media for sponsoring today’s newsletter - now back to where we were . . . ah, yes.
How do we take advantage of this current dip? Many Bitcoin holders are buying the dip and increasing their portfolios!
The saying is to buy while there is blood in the streets . . .
Possibly a more morbid saying, but it is true! Use the dip to your advantage and think like a Bitcoin bull!
Buy doing so, you have the opportunity to lower your average cost which puts you ahead and lowers your risk.
This does not only apply to Bitcoin as everyone is accumulating their favorite holdings before the price rockets!
Let’s take a look at these key areas on the weekly Bitcoin chart . . .
Bullish Zone - The bear flag formation does project downward movement, but there is potential to continue following the support line upward.
This would ultimately lead us to the all-time high break in January/early February of this year!
Pullback Area - If we were to break the bear flag formation and continue downward, we project Bitcoin to regain support in this area.
With the current candlesticks, a cup and handle formation are still possible which would project continued upward movement . . .
Especially with the inauguration of the US president upcoming on the 20th of this month.
🧠 Bullish Fact! Strong consolidation near the all-time high suggests an explosive all-time high in the near future!
WHAT TO ANTICIPATE
The current candlestick on Bitcoin’s weekly chart suggests downward pressure.
However, investors are taking advantage of this sell-off!
Billion-dollar companies continue to buy Bitcoin when it dips in price - and I don’t believe they are out to lose money.
For cryptocurrency overall, there are big moves on the horizon! I can feel it in my knees!
And let’s not forget about “Alt Season”!
As we said in our last newsletter . . .
When Bitcoin is pushing $150,000, many traders and investors will be selling for profits and what is to come next . . . ALTERNATIVE SEASON!
What is “Alt” Season? This is when investors primarily focus on “alternative coins/tokens”— such as Solana or Litecoin—and not solely on Bitcoin.
Bitcoin has potential to break the all-time high in the first quarter of 2025!
However, we do have odds against us at the moment.
Current bear flag formation projecting downward movement.
Uncertainty in the US economy and overall.
This continued sideways movement at the all-time high does give validity to the idea that Bitcoin is preparing to go parabolic!
What Do We Do in the Meantime? Panic selling is never the answer, as we have learned in many cases.
Bitcoin bulls want to buy the dip, and your panic selling is only giving them a better price to buy it at!
Don’t be led to the slaughter and think like a Bitcoin bull!
🧠 Don’t Forget! “Shake outs” have occurred numerous times in crypto! This is when the market “shakes out” investors of their holdings for whales to buy up! Shortly afterwards, the market returns to the previous price!
Source: Reddit
BULL MARKET BULLETIN 📌
Autonomous Robots Enter Cryptocurrency! It definitely sounds like Y2K, but in a good way! 😂 Being that blockchains and smart contracts fuel these machines to perform in key areas such as healthcare, education, and defense, they give new light to possibilities. It could be that, or the next step for robots to take over the world!
Trader Turns $2K Into $3.2M In 10 Hours! No, this isn’t a joke! Thanks to a newly launched token named Hyperfy (HYPER), an anonymous trader turned $2,137 into $3.2 million in just 10 hours! That is a 1,515x return on investment! Now, let’s be real…this doesn’t happen every day - but it shows the power of cryptocurrency! Who knows - maybe there will be another Hyperfy in the future!
Who is President Elect Trump’s Treasury Secretary? News continues to be released of who President Elect Trump is appointing for various positions. The question on everyone’s mind? Are they pro-crypto and will this rocket my portfolio? Scott Bessent seems to bring decades of experience to the field, including his tenure as chief investment officer for billionaire investor George Soros! Is Bitcoin on the map as being that next big investment that will be suggested?
DID WE HIT THE BULLSEYE? |
