First monthly candle to close in 2024! The year of the halving!
Happy New Years to my crypto peeps! Today we have the first candle closure of 2024. 2023 was an epic year for Bitcoin and kind of Bitcoin only. Ethereum had a decent 2023 along with a few other alt coins....... Cough cough AMP!
After a 199.11% gain from swing low January 2023 to swing high December 2023. Quite impressive if you ask me. Now the question is, can we expect similar gains from our beloved Bitcoin throughout 2024? I mean we're under 3 months from the Bitcoin halving, how can we not be bullish.
Let's take a look at the monthly time frame for BTC. Throughout 2023 can you believe BTC only had 3 red monthly candles and a whopping 9 green monthly candles. What a thing of beauty.
The over head white trend line has acted as resistance. We spiked above it momentary but as you can see we closed below it. BTC also wicked too and slightly above the yellow .618 Fib. Currently the red box of previous resistance has flipped and is now support. As long as we don't drop below 40,000 with weekly candle closures we should fully expect to see Bitcoin hit new all time highs this year in 2024.
All eyes and I mean all eyes are on Bitcoin from us retail trades that have been here for many years, to hedge funds, big banks and Countries. Its time for Bitcoin to show the world that its ready to be the worlds currency!
After a 199.11% gain from swing low January 2023 to swing high December 2023. Quite impressive if you ask me. Now the question is, can we expect similar gains from our beloved Bitcoin throughout 2024? I mean we're under 3 months from the Bitcoin halving, how can we not be bullish.
Let's take a look at the monthly time frame for BTC. Throughout 2023 can you believe BTC only had 3 red monthly candles and a whopping 9 green monthly candles. What a thing of beauty.
The over head white trend line has acted as resistance. We spiked above it momentary but as you can see we closed below it. BTC also wicked too and slightly above the yellow .618 Fib. Currently the red box of previous resistance has flipped and is now support. As long as we don't drop below 40,000 with weekly candle closures we should fully expect to see Bitcoin hit new all time highs this year in 2024.
All eyes and I mean all eyes are on Bitcoin from us retail trades that have been here for many years, to hedge funds, big banks and Countries. Its time for Bitcoin to show the world that its ready to be the worlds currency!
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