Bitcoin is Rallying, but for How Long?

Bitcoin is setting up to make a big move. [Jeff Clark's Market Minute]( Jeff’s Note: In today’s essay, we’ll look at the big move I see coming up for Bitcoin… I’ll be using [my 3-second strategy]( to trade it, without touching a crypto wallet or exchange. In the past, you could’ve used this technique to rake in gains like 660%, 810%, even 1,925% or more from Bitcoin’s moves. It doesn’t matter if you’re retired or planning to retire. And you don’t need millions of dollars to profit… To learn this simple 3-second move, [click right here](. --------------------------------------------------------------- Bitcoin is Rallying, but for How Long? By Jeff Clark, editor, Market Minute Bitcoin is setting up to make a big move. The king of cryptocurrencies started off 2023 with an explosive move higher, rallying from $17,000 to $28,000 in the first three months of the year. Since then, though, the action has been lethargic. Recommended Link [Have you heard of this weird 3-second Bitcoin “loophole”?]( [image]( Last year at the Miami Bitcoin conference, this millionaire trader revealed how to rake in gains as high as 660%... 810%...even 1,925% from Bitcoin from simple setups triggered by volatile market moves. The next Bitcoin event is happening October 18th! Watch his demonstration BEFORE this event to claim your piece of the action. [Click here to see 3-second loophole]( -- Bitcoin has been chopping back and forth in a relatively tight trading range for the past several weeks. That consolidating action has built up a lot of energy in the chart. Now, it looks like that energy is about to be released. Take a look… [(Click here to expand image)]( At first glance, this chart looks bullish. After all, Bitcoin recently rallied above all of its various moving averages. And those moving averages have shifted into a bullish configuration with the 9-day EMA above the 20-day EMA, and the 20-day EMA above the 50-day MA. This setup often leads to at least a short-term rally. The problem, though, is the intermediate-term setup looks a bit more bearish. If you look closely at the chart, you can see the potential for a bearish head and shoulders pattern. The left shoulder is at the April high near $30,000. The head is at the July high near $32,000. And the current rally is building up the right shoulder. There’s room for Bitcoin to move even higher over the next few weeks, and not invalidate this pattern. So we could see a move to $30,000 or so as Bitcoin plays out the potential for a short-term rally. Once that rally is done, though, things could get dicey. The current setup in Bitcoin is eerily similar to how the chart looked at this time last year. Even the technical momentum indicator at the bottom of the chart looks the same. Last year, Bitcoin rallied about 10% in October. But then it collapsed nearly 30% in November. 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. The current setup in Bitcoin is bullish for the very short term. The king of cryptos could indeed rally 10% between now and Halloween. But the potential head and shoulders pattern could spell trouble after that. The indicated move for a breakdown of that pattern is closer to $20,000. In other words, following a brief rally, Bitcoin could give up much of 2023’s gains in the final two months of the year. Best regards and good trading, [Signature] Jeff Clark READER MAILBAG Is Bitcoin on your radar? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [The One Ticker Retirement Plan]( Over the Shoulder Demo Now Available Market Wizard Larry Benedict crushed the market in 2022. But he didn't do it with a “traditional” method… For a limited time, he’s sharing a free over-the-shoulder “demo” of his strategy in action. It takes less than 10 seconds… [Watch it here.]( [image]( [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). © 2023 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](