Turning Bullish on Bitcoin

Traders who wanted to buy bitcoin earlier this year have a golden opportunity to do so now… [Jeff Clark's Market Minute]( Turning Bullish on Bitcoin By Jeff Clark, editor, Market Minute For anyone looking to buy Bitcoin, the current setup is the best we’ve seen since the King of Cryptocurrencies peaked in April. We turned [bearish on Bitcoin in April]( when we noticed a seasonal tendency for it to fall during the summer months. We reiterated [that bearish stance on June 25](. And, [we stayed bearish on Bitcoin in July](. Now, however, we’re starting to turn bullish. I’m not suggesting the decline is over… or that Bitcoin is headed “to the moon” anytime soon. I’m merely stating the obvious – that folks who wanted to buy Bitcoin in April near $72,000 will do much better buying it today closer to $54,000. Recommended Link [Meet The Companies That Could Be Behind Apple’s “AiPhone”]( [image]( “According to my research, [these three tiny companies]( may be working behind the scenes to produce Apple’s first ever AI-powered iPhone…” – Luke Lango, Silicon Valley Insider [Get all the info here.]( -- The Best Summer Setup for Bitcoin The seasonal pattern of Bitcoin selling off during the summer has played out. Now, the chart is showing signs of a potential bottoming pattern – which could lead to a reversal higher in the weeks ahead. Take a look… [(Click here to expand image)]( Bitcoin has fallen hard over the past two weeks – losing about 20% of its value. It’s now trading at its lowest price since February. But as the price of Bitcoin has dropped to a lower low, two of the three momentum indicators at the bottom of the chart are forming higher lows. This sort of “positive divergence” is bullish. It’s often an early warning sign of a potential reversal from a bearish trend to a bullish one. In this case, the positive divergence is signaling a possible rally for the King of Cryptos. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. To be clear… it’s not a guarantee. If Bitcoin continues to tumble in the days ahead, the positive divergence could disappear. As it stands now, though, it looks to me like Bitcoin is shaping up for a rally as summer slowly turns to fall. And, as I wrote earlier, if you were looking to buy it in April at $72,000, buying Bitcoin here at $54,000 is a much better deal. Best regards and good trading, [Signature] Jeff Clark Editor, Market Minute [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2024 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](