October 2024 - $70,000 Nears...Crypto Gaming Poised to be the next MILLIONAIRE maker

PREMIUM NEWSLETTER FOR PAYING SUBSCRIBERS (Released every Thursday each week).

A Quick Brief - 

• October reignites hopes of a new Bitcoin All Time High. The Macro tailwinds to be across
  

• 3 Bitcoin Price Predictions into the US election
  

• Too good to be true is my only worry right now
  

• Gaming emerges from the shadows as Crypto’s new HOT🔥 trend 
  

• Off The Grid is a Watershed moment - why its huge for AVAX

Let’s crack in!

Welcome to this week’s edition of the CCI Newsletter…

Bitcoin climbs a wall of worry through mid-October putting bears on the back foot.

Since the August low, Bitcoin has formed a new trend which is now undeniable….

Seen by the yellow circles on the chart below, the higher-high, higher-low trend is a welcome change from the brutal downtrend that shook weak hands from the market.

As optimistic as it looks, we are still within the overall downtrend, so overcoming $70,000 is crucial.

Of particular note, the important 200 Day Moving average (resistance) has been overrun 

At the time of writing, Bitcoin has followed through with a THIRD higher-high (below)

The bulls are quickly closing in in the $70,000 resistance shown by the upper blue channel boundary, and it will be difficult to see Bitcoin run that area straight away - and far more likely that we see sellers re-engage at that critical area acting as resistance

Important to not get ahead of ourselves…and stay grounded in the core levels

If we emerge above $70k, I do expect the market to accelerate rather quickly as volumes and interest return with altcoin FOMO

My concern with alts, that I communicated with the Masterminds this week, was ...

If this is THE breakout we’ve been waiting 7-months for, then Bitcoin will suck all the oxygen from alts as it gathers the fuel for the push and BTC Dominance will reflect this (see below)

She looks good for 60%, so be careful on rotations. That may be jumping the gun without a study of the BTC pairs.

Bitcoin Prediction

I see 3 likely pathways from here…

1. Blue: after 7 months of pain, Bears will once again think they can contain the market, while Bulls will remain in disbelief as price continues to rise. This will create conditions where spot buying can overwhelm sellers and those who are short via Futures will be forced to cover those shorts or exit. Short covering and Stop Loss liquidations can create a cascade through to a new ATH, and then acceptance above

Next…and most likely in my view

Subscribe to Premium to read the rest.