The Bitcoin Breakout Is Here. Don’t Take My Word for It. Look at This Chart!
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bitcoin's 100-day moving average sits around $43,000, and is sloping upward, while the 200-day moving average is around $45,000 with...
Bitcoin (CCC:BTC-USD) finally did it.
For the first time since April, Bitcoin reclaimed the psychologically important $60,000 level. Now, BTC is now just a stone’s throw away from its all-time high mark of $64,863.
We think it’s only a matter of time before Bitcoin takes out that all-time high… Once it does, the original crypto will power above $70,000… $80,000… $90,000… and, yes, eventually $100,000.
We’re not just whistling Dixie here — we have high conviction in this call.
Our in-depth research into the crypto markets yields nothing but bullish signals.
One of the most interesting bullish signals is Bitcoin’s chart.
As many of you know, I’m not a huge chart guy. I’m a fundamentals guy. But even as a fundamentals guy, I acknowledge the value of pattern recognition in technical analysis to predict near-term asset price movements.
Well, right now, the technicals on Bitcoin are flashing a hugely bullish signal.
The chart below tells the tale.
It graphs Bitcoin prices (blue mountain) with its 100-day moving average (blue line) and 200-day moving average (green line).
We’ve highlighted the “golden cross” moments on the chart, or moments when the 100-day moving average crosses above the 200-day moving average.
Whenever that happens, it’s a sign of bullish near-term price action.
As you can see, such golden crosses only happen right before a big swing higher in Bitcoin’s price.
This isn’t speculative, it’s historical…
It happened in late 2015, right before Bitcoin surged from $200 to $20,000 over the course of about two years.
It happened again in mid-2019, right before Bitcoin jumped from $3,000 to over $10,000 in about six months.
And it happened once again in mid-2020, right before Bitcoin soared from $10,000 to $60,000 in a matter of eight months.
The big picture? Each and every one of Bitcoin’s big surges over the past six years has been preceded by a golden cross on the chart.
Well… guess what’s happening right now?
We are rapidly approaching one of these golden cross moments.
The 100-day moving average sits around $43,000, and is sloping upward, while the 200-day moving average is around $45,000 with a flat slope. If current price action persists for just another few weeks, we will get a golden cross moment.
History says that what follows is a Bitcoin breakout.
If that breakout is anything like the previous golden cross breakouts, you could easily see Bitcoin at $100,000 by the end of the year.
Of course, that means that buying and holding Bitcoin is a pretty smart trading strategy at the current moment.
But it’s not the best trading strategy. Because history shows that when Bitcoin breaks out, altcoins tend to break out by a lot more.
That’s where we come in.
We’ve built a team of blockchain experts to analyze the crypto markets and pick the best altcoin investments. We have physicists. Computer scientists. Trading veterans. Stock gurus. Early Bitcoin investors.
It’s an amazing team.
And that team is putting all of our top crypto picks into an investment research product called Crypto Investor Network, which – as the name implies – is dedicated exclusively to investing in the crypto markets.
So far, we’ve netted a cool average return of nearly 200% per crypto. And we think the best is yet to come.
So… go ahead and buy Bitcoin… no harm there…
But if you’re looking to make enormous returns in the crypto universe, you need to find out about the best altcoins to buy today.
On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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