Bitcoin is on the verge of resolving higher from a massive consolidation phase.
This isn’t just a short-term consolidation; it’s one of those bases that typically marks the beginning or onset of a fresh bull market.
These are the periods where we see altcoins multiplying, meme coins surging, and laser eyes all over the internet.
We’ve witnessed this before, and I believe we’re on the cusp of experiencing it again.
It’s also worth noting that these bullish instances have clustered around the holiday season in the past. We’re there now.
It’s all set up so perfectly for another crypto Christmas.
Take a moment to review previous cycles, and you will see just what I mean.
Here’s a zoomed out look at Bitcoin, effectively absorbing all the overhead supply at the upper bounds of the range.
If Bitcoin breaks above $72,000, the next target is at least $100,000.
This isn’t just a multi-quarter consolidation. BTC has been building up energy in this range since it peaked in early 2021.
What do you think will happen following four years of no progress for one of the highest-beta, most-volatile assets in the history of markets?
We have no specific idea of where a resolution from this range leads us. No one does. All we know is that the reaction rally should be an explosive one.
If and when it occurs, there will be tremendous opportunities to profit in the crypto market in the months ahead.
The 161.8% gets us to $100,000.
A measured move of this multi-year base gets us to $125,000.
Extrapolating the percentage gain after BTC broke out of a base in the last cycle gets us $240,000.
Any of these work for me as a BTC bull. I’m making money on my thesis. Period. It’s just a matter of how much.
Here’s the truth about my BTC target and timeframe.
It’s higher and longer from here.
And I plan to enjoy the ride.
I hope you do too.
Alfonso.
JC and Strazza are hosting a special Amazon earnings reactionstream with retail expert Jeff Macke this Thursday at market close.
