BTC TOP 3
EXPECT BILLIONS COMING INTO CRYPTO
Boxmining, a known crypto influencer in Asia, has received intel saying billions are coming into the crypto space in the next few weeks.
Hearing BILLIONS of dollars are going to be deployed in crypto over the next few weeks.— Boxmining (@boxmining) November 4, 2021
BIG FUNDS are aggressively growing and raising new capital.
This tweet has then gathered mixed reactions from netizens. Here are some of them:
Looks like a dump will be coming if that happens .. !!! Nobody buys expensive !— Cryptoomi (@Cryptoomi) November 4, 2021
We don't want billions, we want trillions 😂— Markos Vittorakis (@mark_vittorakis) November 4, 2021
But here’s a hopeful one. 🙂
Sources for this rumor are not yet disclosed but we will keep you posted.
MEGA BULLISH BITCOIN, IS THIS FOR REAL?
We’ve been hearing a 3-digit Bitcoin for ages now. But how near are we to reality?
Plan B even tweeted this:
Like clockwork pic.twitter.com/SBjFgdmAyy— PlanB (@100trillionUSD) November 2, 2021
#BTC following the same candlestick pattern as 2017 here— Mozzi (@mozzi1111) November 2, 2021
2 bullish candles at the end of October followed by 2-3 bearish candles
Then the next uptrend starts early Nov$BTC $BTCUSD pic.twitter.com/NYJALTMV2E
BTC MUST-WATCH LEVELS
Now for the technicals, here are the levels we need to watch out for continued bullish momentum in the market.
According to analyst Crypto Michael, the levels between $56k and $59k are very important support levels to hold. Dropping below $56k means failure of a breakout to the upside, leading to massive corrections.
On the 4-hour chart, BTC is still in a range-bound construction where we need to have a break of $64k for continuation to the upside. Breaking $64k will result in a pretty bullish expansion as there is no level left in between, only a clear breaker towards a new all-time high.
ETH/USDT is showing more strength but having the entire run from $2.6k to $4.6k looking like the run we had last year could be an indicator of having a corrective move relatively soon.
$4.9k ETH is still very doable, but it seems likely to have a correction right after that area before starting the final cycle of the markets.
On the BTC dominance chart, the double-bottom pattern is invalidated as charts are dropping, signaling the start of an altcoin season.
Trader/Analyst TheMoonCarl found another probable pattern on the BTC dominance chart that could be a descending triangle which would then lead to astronomical gains.
*Descending triangle is normally a bearish pattern but in the case of BTC dominance, this is definitely bullish for the alts! If Bitcoin continues to consolidate and goes sideways for a while, we might be seeing more and more altcoins going parabolic.
Hold tight on your bags, we’re going to the moon!
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Elisa is our Head of Market Analysis at Rocket Crypto X
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