Bitcoin [BTC]: Crypto Is Ready When THIS Happens.

Bitcoin Market Update

Macro Cycle

• Crypto is up almost 10% in the first five trading days of the year
• The macro trend is gearing up for the fifth and final leg in the bull market
• The weekly timeframe shows that the macro trends are up, with support at the previous cycle high and a massive trend line holding the market up

Short-Term Timeframes

• The daily timeframe shows a reversed trend back up, with a significant amount of resistance at $100,000
• A break through $100,000 with closed and higher lows would cement the final low in the correction and potentially lead to new all-time highs
• The 30th of December bottom completed a double pump and breach of the lows pattern, but the analysis is not yet convinced that this is the correction low

Market Data

• Long short ratio favors the long side of the market at 50.4% long vs 49.6% short
• Overall volume is very low at $130 billion, with low liquidations
• Exchange volume is dropping off, which is not a good sign for the sustainability of rallies
• ETF inflows show a massive spike, which can lead to tops in the market

Key Levels

• Support at $97,200, with a breakdown beneath this level potentially leading to a short-term top
• Resistance at $100,000, with a break through this level potentially leading to new all-time highs
• Potential retest of the range bottom around $94,000 if the market breaks down