Bitcoin is on the verge of a breakdown. Everyone will jump on Bitcoin’s drop: media, influencers, gurus, and the likes. Those who shout hard will be heard, the harder the more visibility. However, hardly anyone is able to present a decent chart to back up the Bitcoin’s bull market ended message. That’s ‘their’ message, not ‘our’ message.
Opinions are noise
While we appreciate opinions in real life, we hate them when talking financial markets.
Opinions are noise.
They are disturbing.
You stay away from opinions.
That’s why we keep on saying: ‘start with the chart.’
Opinions that are based on data and facts are acceptable. There is some room for interpretation when analyzing data and charts.
But opinions without charts or other data points are the biggest distractors you can imagine.
The message ‘Bitcoin’s bull market ended’ or the Bitcoin bull market is dead, without verifiable data or charts, suggests one and only one thing: attention.
Stated differently, a desperate cry for Twitter (X) likes and more subscribers.
Bitcoin’s Bull Market Dead Based On Intraday Charts
What’s even worse that making statements like ‘Bitcoin’s bull market is dead’ without using a chart… is using an intraday chart to send out whatever message.
— Barchart (@Barchart) January 22, 2024
Let’s face it – an intraday chart tells absolutely nothing. Nothing at all.
We don’t like noise.
Bitcoin’s Bull Market Dead? Not in our view!
We have been shouting it from the roof: the crypto bull market 2024 is an Hidden Bull Market.
This means that, in a way, Bitcoin must come down to some extent.
Bitcoin must not recover too fast. It should not rise too high.
This is the point with our hidden bull market forecast:
The market won’t make it easy to the investor community. Bi-furcation, which is the the fact that not all tokens move higher (in price) concurrently will make it very tough to spot the trends. The good thing with bi-furcation is that the entire world, at a bare minimum 99.9%, will only find out about the crypto bull market when most tokens trade at least 3x higher which is when it will be way too late to enter.
Indeed, the 2024 hidden bull market requires the ‘Bitcoin’s dead’ message to be spread, in a way (admittedly, there is almost a conspiracy side to this, but rest re-assured, these are market dynamics 101).
Bull markets can only continue as long as the number of bulls remains low. Once ‘everyone’ goes long (or short), there is a consensus trade. If anything, consensus trades tend to coincide with turning points.
Below is the Bitcoin chart with its 3-month cycles. After a strong 3-month cycle (green shaded area) it makes so much sense to have a cooling off period, which is why the current cycle is marked red. A flat 3-month cycle is a possibility, but also an intra-cycle turning point may occur.
What matter is this – the hidden bull market will create a new trend, it’s a big one, we wrote about it here (premium alert) Bitcoin Breakdown Happening Now. This Is Our Viewpoint.