Long

🅱️ Bitcoin Grows by 51%, No Signs Of Weakness, $25,000+ Next!

Updated

Bitcoin has been growing since late November.

Ever since the 21-November low at $15,477, bitcoin has gone up by an astonishing 51% (50.93% to be exact). Yet, as this growth is happening, bitcoin isn't showing any signs of weakness.

We are looking at the 12H timeframe and notice that bitcoin hasn't gone below EMA10 since the 1st of January 2023, a great start to the year to say the least.

We are seeing prices growing slowly but surely and there is a reason why.

While bitcoin stops and takes a break, the altcoins gain speed and also move ahead.

While bitcoin speeds up, the altcoins vs bitcoin pairs need to stop.

This is why bitcoin is taking a few breaks on the way up... So that the entire market can adapt and grow.

If bitcoin were to go straight up, it would suck out all the energy from the other projects and everything would become slow.

I guess bitcoin is a friendly crypto, it wants the best for the market as a whole.

Trading continues above EMA10, even if prices drop there is plenty of room to accommodate a retrace.

The RSI continues super strong.

The next target is clear, $25,000+.

The people at Coinbase have been buying bitcoin in bulk, it seems they are preparing for another big purchase in the days to come.

Namaste.

Note

🚨🚨🚨🚨 Friendly reminder.

The next jump is now imminent, we should see another pump happen and take prices to $25,000 and beyond.

We see billions being moved around and these billions of dollars will be used to buy bitcoin. Nothing else.

Note

How do we know if this market (Bitcoin) will continue growing?

The altcoins market is highly correlated... I should say the cryptocurrency market.

FetachAI is one of the altcoins that moved first, the action that started mid-January for many, started earlier for FETUSDT, here is the chart:

The highest price hit the same levels as May/April 2022.
What one does, the rest follows.

Fantom is another altcoin that moved ahead of the pack, it moved "ahead" of the rest which means that the others will also get there.

See current prices hitting May/April 2022 levels:

Litecoin is another altcoin that moved ahed of the group hitting the same level so far as it was back in May 2022, see the chart:

Dogecoin moved even earlier than those already mentioned and peaked around guess what price level... The same level it hit back in April/May 2022. See the chart:

There will certainly be a strong correction, eventually, but this correction is part of the normal 5-3 wave structure explained by Elliot's theory.

Now, Bitcoin has gone up but it has yet to reach the May 2022 price level which is around $28-$32,000. The chart looks more like MANA, BCH and others.

There is a third group that is yet to go beyond its November 2022 peak price.

Let's recap everything...

There is a group of altcoins that is leading the market and so far has gone to the same price level as far back as April/May 2022.
There is a second group, this group includes Bitcoin, Ethereum, Cardano, and the giants, which so far has been up but only to its August 2022 level.
A final third group has gone up only to its November 2022 price level.

There are groups that have yet to break from their lows...

This same analysis confirms that what one altcoin group does, the rest follows, since group 2 followed group 1 and group 3 is following both group 2 and 1.

The biggest altcoins and the cryptocurrency king Bitcoin is in group 2.
We can know that this group will continue growing based on the price action of group one.

Namaste.

AlanSantana

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