#Bitcoin Update – Wednesday, 30.10.2024

Nov 6

As-salamu alaykum and Good Evening to All Brothers and Sisters!

#Bitcoin has responded positively following the conclusion of the U.S. elections, which have so far produced pro-crypto outcomes. This is reflected in Bitcoin's recent surge after breaking through the Blue Lines yesterday, propelling it to hit our second Take Profit level. After a brief retracement, Bitcoin appears poised for another jump towards our third target. If the weekly candle closes within the Yellow Area, we may witness some retracement again, but the current momentum suggests that Bitcoin is likely heading towards the next major target.

What's Next?

If the price continues on its current trajectory, Bitcoin could easily reach the 80K level, which is our first significant target. Once this milestone is achieved, we could see a temporary pause or correction, creating an opportunity for altcoins to shine. I’m confident that from this level, Bitcoin will allow some breathing space for altcoins to experience their own rally.

#Altcoins

With Bitcoin's strong movement, altcoins are also performing well. However, it's important to note that this rally is still tied to Bitcoin's movement. The real momentum for altcoins, as mentioned before, is expected to kick in once Bitcoin reaches the 80K mark. For now, I'm beginning to open trades in high-capitalization altcoins, while I recommend exercising patience with smaller-cap altcoins until the market provides clearer signals.

Stay tuned for further updates, and let’s keep riding this wave together! I wish you all a profitable week and continued success. Keep your eyes on the charts, and let's make the most of this exciting market movement! Have a great evening!