This Is a Key Move for a Bitcoin Bull Run

Remember this age-old concept. [Jeff Clark's Market Minute]( This Is a Key Move for a Bitcoin Bull Run By Imre Gams, analyst, Market Minute Bitcoin topped out in late 2021, along with the rest of the broader equity markets. But unlike the S&P 500 and the Nasdaq – which have declined 14.6% and 22.3%, respectively, bitcoin has had a larger pullback of 52%. Volatile swings in the cryptocurrency market are nothing unusual. For example, bitcoin made a high in December 2017 at $19,891. A year later, the cryptocurrency was trading at $3,128… that’s an 84% selloff! And since then, bitcoin has rallied an astonishing 2,105%. For bitcoin investors, it truly does seem that there can’t be gains without some pains… Recommended Link [Bezos, Musk, and Yellen Planning Behind the Scenes [$150 Trillion]]( [image]( While most Americans were distracted by mainstream media headlines predicting a stock market crash… PhD Investigative Journalist Nomi Prins found evidence that shows the elites are spending trillions of dollars to “transform” the economy. Jeff Bezos and Elon Musk have pledged billions of dollars to make it happen… And Treasury Secretary Janet Yellen is working with 131 countries, 234 cities, and 695 of the world’s biggest companies – including Bank of America, Nike, and Exxon Mobil –to overhaul everything about the American way of life. [Go here right now to see what it means for your family and your money.]( -- One key to successfully investing in cryptocurrency is understanding where the market is currently trading in the broader cycle. My analysis tells me that the current [bearish]( cycle may have already bottomed out and we’re now preparing for a run to new all-time highs. Of course, timing market bottoms can be tricky to get right. That’s why I want the market to prove to me that it’s getting ready to change course. Fortunately, now I’m seeing the initial signs that bitcoin is starting to do just that. So first, let me walk you through a daily price chart of bitcoin shown below… [chart] [(Click here to expand image)]( There are two important things going on with this price chart… - $44,538 is a [resistance]( level that’s managed to put a lid on any rallies in bitcoin since the beginning of the year (horizontal red line). The market has tried to test this level several times without being able to successfully break through. But that changed last week, when crypto [bulls]( were finally able to take prices through this key level. It's important to remember this age-old concept of [technical analysis]( broken [support]( will serve as future resistance, and broken resistance will serve as future support. That’s what’s going on with bitcoin now. I expect prices to pull back in the short term to test the broken resistance level of $44,538. Then, we’ll see if it’ll hold as a supportive floor for prices. If bitcoin can stay above this level, then it makes sense to maintain a bullish stance in this market. - The second feature of this price chart is how bitcoin has currently managed to trade above its 20- and 50-period moving averages for several days in a row (blue and red squiggly lines). On the left side of the chart, notice that once the selloff in bitcoin really picked up steam prices remained firmly below both of these moving averages. I’d expect that behavior from a market once a strong trend is underway. The fact that bitcoin is now able to trade above those same moving averages is encouraging news for the cryptocurrency market. 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. These two pieces of technical evidence tell me that bitcoin may have already bottomed out… and the next bull run is already underway. Next, we need to see if the market can hold that key level of $44,538. That’ll be the first line of defense that bulls will be looking towards. The second is whether bitcoin can keep its head above the 20- and 50-period moving averages. [[Bombshell Claim] The ONLY Stock You Need to Retire Wealthy]( Right now, bitcoin is interesting because prices are still trading around 30% off its all-time high of $69,000. That means there’s exciting potential upside ahead. Happy Trading, Imre Gams Analyst, Market Minute Reader Mailbag What are your thoughts on cryptocurrencies? Do you think bitcoin will keep heading higher long term? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Buy These 27 Items NOW – Before They Sell Out Forever]( You should plan your next shopping trip around [these 27 items.]( In the coming days, they could skyrocket in price… 10X… 50X… even 500X higher. Investing expert Dave Forest just went on-site at an American superstore to find out what the HECK is going on in America. As he explains in his [shocking video exposé]( – it doesn’t matter if stores in your neighborhood seem fine now, because: “Once this crisis hits cruising speed, these essential items could sell out quickly and never be restocked.” [Click here now to see what’s on Dave’s list (VIDEO).]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [How to Earn Free Bitcoin]( [The Gold Investor’s Guide]( [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [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. 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