Bitcoin Bullish But... Support Zones (Incl. Altcoins)Bitcoin is bullish right now but we know things can change. As long as the action is happening within the blue and gray space, all is good, the bullish bias remains intact. If the action moves below the gray zone and enters the orange zone, this is the danger zone. This danger zone can turn into a buy opportunity or a wait and see approach.
On the other hand, if Bitcoin remains above the blue zone this is ultra-bullish short-term. This is specially bullish for the altcoins but it is bullish for Bitcoin as it reveals consolidation at high prices, but right now we have a lower high so anything goes.
The chart is mixed when looked at up-close. Bullish long-term and on all bigger timeframes. Corrections tend to develop from high prices.
One more thing to consider
When we look at the action short-term we can miss the bigger picture, we can become clouded with noise. The bigger range is $100,000 - $110,000, this is the new long-term support zone that is being established and created before additional growth. Bitcoin can remain here for weeks or even months, if this happens, the altcoins will continue to grow.
We are in a bull market. Bitcoin is obviously in a bull market as it is trading near its all-time high after years of growth. The altcoins are just getting started after years of sideways action... Some altcoins hit new all-time lows but still part of a broad, long-term consolidation phase. Many produced higher lows, some produced lower lows, it makes no difference.
The bear market ended in mid/late 2022 and the ensuing two years we had mix growth. Bullish waves and bearish waves, with the usual variations of course.
The year is now 2025 and Bitcoin is up, most of the big projects have been growing for years now and we are getting close to the final advance, the major fifth wave and the bull market bull run. When this happens, close to its end, all the smaller projects will produce the biggest growth in their history and this will be the boom that will catapult Crypto to take over the financial world.
It won't be the first time this event happens nor the last, the market will continue to fluctuate.
I know there is a lot of information out there and we can become uncertain with every drop, but look at the price; what do you see? Bitcoin is going up.
The altcoins are set to follow, the altcoins do what Bitcoin does.
Namaste.
