Fibonacci Level Breakout: GRT breaks above the 23.60% Fibonacci level at $0.30, signaling bullish momentum. Price Jump Potential: The uptrend continuation could lead to a significant price jump to $0.50. Trend Reversal and Long-Term Outlook: A trend reversal points towards a sustained uptrend in 2024, with potential to reach $1. Bullish Market Support: Supported by the 50-week EMA, GRT's bullish reversal gains pace amidst a broader bull market. Market Cap and Ranking: GRT stands at #42 among top coins with a $3 billion market cap. Breakout and Bull Run Indication: The breakout above significant Fibonacci levels and the dynamic 50-week EMA hints at an upcoming bull run. Current Trading Price: Trading at $0.3200 with a recent pullback from a 16% overnight hike. Volume Increase and Demand: A 20% rise in trading volume supports the bullish trend. Technical Indicator Outlook: The weekly RSI entering overbought territory underscores the strength of the uptrend.
I think this looks accurate and matches many of my own thoughts. The Graph is showing a lot of strength and bullish momentum comparatively. History shows that as soon as BTC breaks its previous ATH, we'll see a run-up to the new ATH. We haven't convincingly broken the ceiling yet with BTC, but the price is relatively stable and in a range. As bitcoin matures as an asset, we won't see the gains we saw in previous bull runs from a multiplier perspective, but we should at minimum expect a double on BTC if we get a strong break through to 70K. Once daytraders engage on the momentum, we will see greater volatility and there will be 3-4 weeks of euphoria. typically it's around 3-4months from the breakout above BTCs ATH until we see a new ATH. This coincides with the halving. It's realistic to expect seeing Graph at $1 and the momentum of altcoins while BTC is holding steady suggest continued overall bullish momentum in the crypto market.
bed87
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Yeah sure, except BTC will die once it hits 72k....