Positive momentum continues in the crypto market, with Bitcoin showcasing promise and altcoins displaying significant resilience despite recent dips. While I won't confidently declare a major bull market, my portfolio is positioned for one, as it has been since the start of 2023. I made adjustments about two months ago, especially with SOL where I realized gains after a strong upward movement.
My perspective remains bullish as long as Bitcoin maintains levels above 40,000. Sustaining above this mark could signal a robust push towards 50,000 and beyond. Even a dip below 40,000 doesn't rule out new highs for 2023/2024, but it could limit the potential. I currently see a likelihood of hitting 50,000 in the near term, potentially even within days if we break past the 44/45,000 resistance. However, market dynamics will shape further projections.
For now, a short-term outlook involves aiming to sustain levels around 42,000, forming higher lows in a triangular pattern. A touch at 44/44.5,000 would bolster the case for an imminent breakout. If resistance at 44/45,000 is breached, a swift move towards 47/48,000 is anticipated within a day or so.
In line with my previous analysis, version 2 of my strategy remains active. A strong breakout could set a preliminary target between 50,000 to 55,000.
In summary, as long as we hold above 42,000 in the coming days, the upside potential appears significant.
I wanted to share a chart I posted two months ago, though at the time, I expressed doubts about a similar outcome. While I still find it unlikely, recent market trends are much more encouraging. However, it's important not to fixate too much on historical charts. 😊
My perspective remains bullish as long as Bitcoin maintains levels above 40,000. Sustaining above this mark could signal a robust push towards 50,000 and beyond. Even a dip below 40,000 doesn't rule out new highs for 2023/2024, but it could limit the potential. I currently see a likelihood of hitting 50,000 in the near term, potentially even within days if we break past the 44/45,000 resistance. However, market dynamics will shape further projections.
For now, a short-term outlook involves aiming to sustain levels around 42,000, forming higher lows in a triangular pattern. A touch at 44/44.5,000 would bolster the case for an imminent breakout. If resistance at 44/45,000 is breached, a swift move towards 47/48,000 is anticipated within a day or so.
In line with my previous analysis, version 2 of my strategy remains active. A strong breakout could set a preliminary target between 50,000 to 55,000.
In summary, as long as we hold above 42,000 in the coming days, the upside potential appears significant.
I wanted to share a chart I posted two months ago, though at the time, I expressed doubts about a similar outcome. While I still find it unlikely, recent market trends are much more encouraging. However, it's important not to fixate too much on historical charts. 😊
Here we go 52k.
I wanted to share a chart I posted two months ago, although at the time, I had doubts about a similar outcome. Recent market trends are much more encouraging now. However, it's important not to rely too heavily on historical charts. 😊