AlanSantana

πŸ…±οΈ (100% Bullish) I Was Wrong About Bitcoin πŸŽπŸŽ„Merry Christmas

Long
AlanSantana Updated   
INDEX:BTCUSD   Bitcoin
βž– It seems I made a major mistake predicting/expecting a major correction for Bitcoin and the major Altcoins.

βž– It seems I was 100% wrong and I accept it and fully admit it β€”when calling for marketwide correction at anytime.

βž– It is not a mistake but a major FAIL.

βž– I failed and I accept this as part of the process. I will learn from my mistakes, adapt and change.

πŸ…±οΈ Bitcoin continues 100%, 300%, 6,000% Ultra-Bullish and all bearish signals continue to be obliterated.

Right now Bitcoin is bullish and on all minors, intermediate and major timeframes.

Bitcoin can continue growing, keep going, on and on, forever more, higher and higher... Bitcoin can continue to grow for years to come, specially with the Bitcoin spot ETF coming soon and Binance now 100% fully perfect, with a new lovely CEO.

The Altcoins market can be seen growing really strong!

Now, where is the next major target?
How far up can Bitcoin really go?

We have multiple resistance levels to look at and consider.

1) $48,000. This is the next minor level but not that strong considering the bigger picture.
2) $50,000. This is a "psychological" level, so very much likely to be tested and we look forward to this one.
3) $60,000. Another psychological barrier as it is a rounded number but nothing impossible.
4) $69,000. Bitcoin's All-Time High. This is obviously a major resistance point but the Bitcoin spot ETF and money printing, aka Quantitative Easing should take care of this, or call it inflation or monetary expansion, lower interest rates, easy money and the rest... The market moves in cycles and so those the Fed.
5) $180,000. Of course, we will have to wait for the new All-Time High... But with billions coming in due to the Bitcoin spot ETF, institutional adoption, etc., this can happen anyway.

The market continues to do great!

πŸŽπŸŽ„ Merry Christmas & Happy Holidays!

Namaste.

P.S. If you've been bearish on Bitcoin ignore this trade idea. Remain bearish until a major correction develops and establishes a new support. Once the new support level is established, pre or post halving, go bullish until 2025.
Comment:
Just in right now...

πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ 1,000,000,000 #USDT (1,001,100,000 USD) minted at Tether Treasury

πŸ‘‰ Sorry bears... It seems Bitcoin and the Altcoins are going to the moon!
Comment:
Here is the 1H (short-term) timeframe chart... Doesn't look very good but, we pray...

Comment:
πŸ…±οΈ Updated View On Potential Bullish Scenario | Short-Term Correction vs Long-Term, The Shakeout & 48,000-50,000 Wave Peak

Here is a new and updated perspective.
A bullish Bitcoin scenario to keep in mind and consider.

The market is not the same as it was 8 years ago nor 4 years ago, it keeps on growing and growing... Especially the Altcoins.

The Altcoins move in groups, they all take turns.
In the past all the Altcoins would move in just a few months but as the market grows, it can take longer and longer for the energy, money, to shower all those corners of the market that seen dead but are not dead.

Bitcoin can go sideways for long but no, think of a shakeout... One of the favorite market makers moves.

Bitcoin can continue consolidating before the next major market turn, waiting for the Altcoins that need some air, waiting for them to breathe because if Bitcoin drops, everything drops... And the market cannot kill its own.

Instead of the much anticipated major pre-halving correction, which can also end post-halving, imagine this scenario: a fast shakeout move lasting a few days.

Bitcoin can drop towards the 37-39,000 price range, or lower on a wick if the move is to be really strong; just to recover right back up but grow slow towards 48,000 and 50K, reaching this bullish wave end.

Instead of going straight down and start the major correction, it can produce a shakeout followed by a higher high and then the major drop.

One thing is certain, we will have a correction in Q1/Q2 2024.

This is another scenario we have to consider because the Altcoins market is now just too big... The Altcoins being bullish is a bullish sign for Bitcoin, this is the way its been in the past, why should it be different today?

Bitcoin can drop and the Altcoins continue growing, it can happen but normally it goes the other way.

Since these Altcoins are looking really strong and some coming out of major lows or All-Time Lows, it is possible to see the whales producing a shakeout before the major correction comes.

Some food for your thoughts.

Namaste.
Comment:
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 30,000 #BTC (1,276,294,312 USD) transferred from unknown wallet to #Binance (this came in earlier this morning...)

βž– Whale movements are through the roof.
βž– Billions withdrawn from Binance through major Altcoins.
βž– Some crazy moves right now... Something big is about to take place.

This is how things are looking short-term, not good but we pray!


Comment:
Bitcoin closed daily below EMA50 for the first time since 11-Dec.
You might remember my EMA analysis from previous trade ideas; The fact that we have a lower high after the 11-Dec recovery indicates that the next major moving average will be challenged next.

This means that Bitcoin can reach towards EMA50 as support, around 39,989 to start...
This would be just the minimum.

If you notice the volume on this chart it is pretty high compared to other days.
It is also a strong red candle.

It is still early but bearish potential is building, bearish signals are starting to show.
The fact that the Altcoins vs Bitcoin, not Alts in general but ALTSBTC, are moving very strong upward can also indicate that Bitcoin is set to retrace. A retrace can turn into a correction.

Let me know in the comments if you have any questions and I can easily expand.

I am at your service.
Thanks a lot for your support.

Namaste.
Comment:
We are seeing good bullish momentum short-term.

πŸ‘‰ If the last peak is broken, 22-Dec & 8-Dec, bearish potential is neutralized and the bulls regain control of the chart.
πŸ‘‰ If resistance remains intact, the bearish bias continues...
Comment:
πŸ…±οΈ Bitcoin Mining | The Answer Straight From The Source

I have a friend who is a miner, a Bitcoin miner that is.
He runs a large mining farm, a huge operation.

We meet every once in a while and I was interested in some information concerning his business that I can share with you guys.

Let's say his name is Johny (real name kept secret to protect his privacy).
I asked Johny, "Hey Johny, what's up with your business? How does it work because fees are high, Bitcoin is trading high and the miners are getting front page".

He looked at me as if I just asked how to build rocket ships that still use the same technology we had back in the 1960s... "It is very complex, most of the work is done by a team of engineers, we wouldn't want to go into the details".

I said, "No, not about that, who cares about techie stuff I am talking about Bitcoin's price. People are saying Bitcoin is headed towards $80,000 or higher in the coming days but what about the miners? Aren't they supposed to sell?"

Now he started looking at me like I was a complete moron... "Spare the look, please explain!"

He got started and I am just going to paraphrase what he said to make it easier for you and me. I had to fly to eastern Europe to meet this guy so I hope you find this information useful.

Basically he said "everybody knows" , which means him and those in his business.

In order to cover costs miners have to make money.
In order to make money they have to sell assets.
Their one and only asset is the Bitcoins they mine.

He explained how the halving event happens only once every four years and it slashes the amount of Bitcoins they earn in half. So each time a halving event is approaching, they are forced to sell as much as is needed to cover their costs. It is also their time to profit, so they sell on the way up.

After the halving event it can take a long time before funds are needed again, so they can load and accumulate at the lows, to sell again at the top of the next bullish wave.

According to my miner friend, there is no option but to sell.
You can couple this with the launch of the Spot ETF, some Binance situation or some unexpected event and you have a perfect storm. Prices are set to drop because of the programmed market cycle but there is always a news event that will accompany what the market does.

The media will say the event caused the crash but in truth, it was inevitable because miners need to profit and cover their costs.

After this correction, we will experience sustained long-term growth.

It does not need to start now... It can take its time, just as explained in the update above.

Namaste.
Comment:
πŸ…±οΈ The Altcoins vs Bitcoin, Bitcoin vs the Altcoins; Correction Potential, Current Signals & More

The Altcoins continue really strong.
The Altcoins being bullish is always a bullish signal for Bitcoin.
If the Altcoins grow 100%-300% each, when the time comes for a correction money can flow from the Alts to to Bitcoin.

The Altcoins vs Bitcoin pairs being strongly bullish is mixed, this only happens when Bitcoin is peaking or already peaked.

So we have again a mixed signal here. When the market is mixed, each chart/pair needs to be considered separately.

Bitcoin continues trading within a lower high compared to 8-Dec. and this is the most important point to consider.

As long as Bitcoin trades within a lower high, the correction potential remains valid.
If the last high breaks, then a new resistance level can be hit around 48,000 and 50,000.

The correction can start now just as it can start in two or three weeks.
Allow room for variation but just be aware of the fact that a correction is close, be prepared.

Even with one final jump, we are trading near resistance, high up after more than a year of sustained growth.

Sell high, buy low.

Namaste.
Comment:
πŸ…±οΈ Bitcoin, Altcoins, Profits & Losses. Are You Prepared?

Now, let's expand on this topic of being prepared... What does it mean to be prepared?

Let's go into the specifics because I can feel people still have many doubts.

Being prepared is keeping track of your positions and having a plan ready on how to act based on different scenarios.

For example, I cannot treat pairs such as INJUSDT and TRBUSDT the same as ADAUSDT and DOGEUSDT.
The reason being that the first set grew beyond 2,000% from their most recent market lows. Regardless of when you bought, if any bearish signal or strange feeling comes up it is ultra-wise to cut back on any open position. In fact, even without any major bearish signal after such strong growth it is always wise to secure some profits.

On the other hand, the latter set, DOGE and ADA, having grown by 100% or less need less attention, they can even continue growing.

I cannot treat SOLUSDT the same as DOTUSDT. The reason being that Solana already produced more than 800% growth from its major market bottom while Polkadot has grown by less than 200%. Being prepared is knowing the difference between each pair.

While Polygon can start growing now and grow really strong, other pairs such as Bitcoin and Injective are more likely to retrace because of their massive growth.

How you prepare depends on your trading plan; Are you here for the short- or the long-term?
The best way to get out of a trade?

If you use the charts, wait for bearish confirmation or try to predict a top based on the candles. This has its downside but also its upside. All choices will have advantages and disadvantages, you just need to choose what works best for you.

Some people focus mainly on a trailing stop, this is a great way to maximize potential gains on a winning trade. This is a great way to ride the wave all the way to the top.

Others sell portions at each target, this is great as well and requires early planning but once done can work hands off.

Another group of people, or I should say another option, is to set a target and stick to it and then get out. For example, some aim for 50% on a trade. Buy-in and sell all at 50% profits, then move on to the next trade regardless of what the pair does.

Being prepared means having a plan and not end up being a "bag holder" when the correction comes.

Why do I keep on harping and insisting about a correction?

When a market is hitting bottom, I need to tell you and remind you that the best is yet to come so you have time to prepare and profit from the bullish wave.

When the market is peaking, I need to tell you before-hand or else my job would only be done halfway.

Seeing these warnings doesn't mean that something is wrong with the market or that you need to get scared... It only means that growth is already happening and after massive growth we get a bearish wave.

If you are annoyed by this information it means that you are not prepared well enough.
If you enjoy this post, it means you are on your way to taking full advantage of the bull market in 2025 and 2024.

Thank you for reading.
Remember to boost if you want to see more.

Namaste.
Comment:
When BNBTC goes up, BTCUSD goes down (inverse correlation).

I remember this clearly, when Bitcoin was crashing in 2022, BNBBTC was in a bull-market, higher highs and higher lows.

As Bitcoin recovered in 2023, BNBBTC was in a bear-market, lower lows and lower highs.

Now BNBBTC is having a major bullish breakout (going up)...
It is likely that BTCUSD is going down...

March-November 2022 | BNBBTC goes up

BTCUSD goes down
___


December 2022 - December 2023 | BNBBTC goes down

BTCUSD goes up
___

December 2023 - ??? | BNB goes up

BTCUSD goes down
Comment:
Comment:
Looks like the miners are selling their Bitcoins... Johny was right!


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