30/12/24 Weekly outlook
Last weeks high: $99,988.07
Last weeks low: $92,529.54
Midpoint: $96,258.81
As the year comes to an end, we have a split week with new years day landing on Wednesday. The yearly candle starts @ $42,300, blasted past the previous ATH @ $69,000 and is now $90,000-100,000 a huge climb in the second straight green year for Bitcoin, all eyes on the yearly close!
Historically the yearly close can be fairly uneventful as some portfolio rebalancing & tax implications are taken into account in some countries around the world, so for BTC to close around the current price would be very positive.
Going into 2025, history suggests that the 3rd year of a Bullrun is the final year and so part of planning for 2025 will include some sort of exit strategy. Now I do believe that crypto is here to stay long term and this year has proven that with mainstream ETFs, government acceptance and in some case embrace, also businesses adding BTC to their balance sheet and more and companies accepting crypto as payment. All extremely positive for the space cementing cryptos mass adoption.
For this week if we do see any move of note I believe it will be later in the week once the bigger players return to work, but I'm also conscious of January 20th when the presidential inauguration takes place. After that date there really shouldn't be too much holding back the continuation of the Bullrun.
Last weeks low: $92,529.54
Midpoint: $96,258.81
As the year comes to an end, we have a split week with new years day landing on Wednesday. The yearly candle starts @ $42,300, blasted past the previous ATH @ $69,000 and is now $90,000-100,000 a huge climb in the second straight green year for Bitcoin, all eyes on the yearly close!
Historically the yearly close can be fairly uneventful as some portfolio rebalancing & tax implications are taken into account in some countries around the world, so for BTC to close around the current price would be very positive.
Going into 2025, history suggests that the 3rd year of a Bullrun is the final year and so part of planning for 2025 will include some sort of exit strategy. Now I do believe that crypto is here to stay long term and this year has proven that with mainstream ETFs, government acceptance and in some case embrace, also businesses adding BTC to their balance sheet and more and companies accepting crypto as payment. All extremely positive for the space cementing cryptos mass adoption.
For this week if we do see any move of note I believe it will be later in the week once the bigger players return to work, but I'm also conscious of January 20th when the presidential inauguration takes place. After that date there really shouldn't be too much holding back the continuation of the Bullrun.
Note
Happy new year everyone, now that the festivities are over and the corporate window dressing is over we should start to get a better read on the market.
Currently mini range is between weekly low and midpoint, definitely wouldn't want to lose the weekly low if we're going to have a bullish start to the year.
Note
Midpoint flipped and accepted as new support. Looking good so far and same with alts.Note
Overall good recovery from BTC taking price back towards the weekly high and 100K
The weekly close will be interesting as this weeks volume has been very low and next week that is expected to increase.
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