BTC TOP 3
BITCOIN ABOUT TO TAKEOFF
ONE LAST RESISTANCE AHEAD
They say 75k is the new target for Bitcoin. Have you stacked up enough Bitcoin before it goes to the moon? If you haven’t, you might want to continue reading to be convinced of how bullish BTC is right now. Make sure to ride Bitcoin to the moon!
Looking at the charts, on the weekly, the highest weekly close Bitcoin ever had was around 59.9k. Thus this would be the last resistance the weekly candle has to overcome before we can officially go to the moon!
Likewise, on the daily chart, BTC has pushed through the supply area (that acts as a resistance zone) and now has retested as support, which makes the resistance level at 59.6k. After that — clear skies ahead.
Lark Davis, one of YouTube’s crypto experts, said that if we crack 60k, it’s game on!
MMCrypto, who appeared as a guest of BitBoy Crypto’s channel, the #1 YouTube crypto channel, supports this idea, too. And even better, he believes BTC will go straight up to 75k after breaking out of 60k!
Here’s how it would play out, as per his analysis:
The current Bitcoin chart shows a ‘cup and handle pattern’ – a very bullish pattern. see image below.
The target would be measured from the bottom of ‘the cup’ all the way up to its ‘rim’ — which then gives us more or less 20k more target from its rim. That would then show us that 75k Bitcoin target. see image below
Again, they recalled that this probable moon pattern and indicator can only be considered once we break over 60k.
ALTS IN PAIN BUT…
BITCOIN Dominance – We’re now back to trending upwards. And it looks like the dominance chart is about to form a double bottom, which would then give us a target of 58-59%. Bitcoin dominance rising is painful for altcoins.
The neckline of this double bottom pattern is at 48-49%. Crossing above this level confirms this bullish pattern for bitcoin dominance.
Now, what do you do? It might not be a bad idea to sell or take profits out of your altcoin bags and switch over to Bitcoin, ride to the top. Then upon reaching the target, start taking profits once again to re-accumulate those altcoins, making your bags even heavier.
Why switch back? Because after Bitcoin tops, altcoin season will follow. expect 20x, 30x, 50x, or more gains.
But, just a quick reminder: Never forget to take profits on the way up.
When astronomical gains happen in days, you must take profits. If you don’t, you are making a potentially massive, massive error.
Of course, they could keep going up, but if you don’t hit the sell button after these astronomical runs in the late stages of Q4, in the altseason, on many of your projects, you will most likely miss the chance to build that treasury for the inevitable collapse that happens after a parabolic blow-off top.
Better safe than sorry!
ABOUT THE AUTHOR
Elisa is our Head of Market Analysis at Rocket Crypto X
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