December Will Be Big – Crypto Piece
Altseason Is Almost Here
Bitcoin continues to hover just under $100k following a brief pullback to $91.5k, which is a level we had highlighted in our previous Crypto Piece (found here).
As far as Bitcoin is above $91.5k now, we still think it is consolidating for another push higher in the $103k - $107k region, especially given the recent hidden bullish RSI divergence that’s built.
IF $91.5k level gets broken on a daily closing basis, then we’ll be looking for a deeper pullback from here with $88.7k as the first area of interest and below that would be $85k and $81.5k (daily 55-EMA).
Ethereum Analysis
While Bitcoin has been consolidating, Ethereum has been showing quite a bit of strength.
Ethereum has now officially broken past the $3550 resistance level. The next level of resistance comes in at $4k before a run at new ATHs.
It’s seeming more likely that ETH first makes a run at $4k and then has a pullback from there before making a run at new ATHs.
For now, the key level of support we’re eyeing is $3550 because if that gets lost, then price could dip to around $3250 (not our base case for now).
ETH/BTC Ratio
Between ETH versus BTC, it doesn’t take a genius to see that a big bounce on the ETH/BTC ratio is coming, indicating that ETH will outperform BTC.
ETH/BTC ratio has multiple drives of bullish RSI divergences + bullish momentum.
The stage is set for Ethereum to outperform!
Our Proprietary Cycle Forecasts – Bitcoin And Ethereum
We usually keep our proprietary Cycle Forecasts only in the Paid Section, but since we’ve had a big influx of new members, we’re providing it in the free section only for this article. This should help you get a feel for the Cycle Forecasts that we build in-house.
The blue line is the Cycles Composite and pink line is the Energy Cycle (both of which are part of our “Secret Sauce”). The green line in the bottom panel is the Seasonal Cycle. It’s important to note that the Cycle Forecasts primarily speak to Direction of the price with respect to Timing, but do NOT predict price itself.
Bitcoin’s Cycle Forecasts points a potential pullback (can also be in the form of sideways consolidation) between now and 13th December.
After that, the road is clear for further upside into year end, with all 3 Cycles pointing up!
Ethereum’s Cycle Forecasts points to some upside until 6th Dec followed by a downside bias (can also be in the form of sideways consolidation) until 15th Dec and then a strong upside move for the rest of Dec.
It’s important to note that both Bitcoin and Ethereum’s Cycle Forecasts are signaling an all go sign for upside from 15th Dec onwards, so the 2nd half of Dec is the time to get aggressively long from a Timing standpoint!
Altcoin Index
In our last Crypto Piece (found here), we had mentioned about an altseason that’s gaining momentum.
We had also highlighted the chart below that shows the percentage of top 50 cryptos by market cap (excluding stablecoins) that outperform Bitcoin over the last 90 days.
In our last Crypto Piece, this index was at 43. Now, it’s at 69, indicating that altcoins are beginning to rapidly outperform AKA altseason!
This is exactly what we were anticipating and the best part is that the altcoin market still has lots of room to run-up.
In the next section, we’ll analyze (including our proprietary Cycle Forecasts) some of the key altcoins that are in the top 10 by market cap, namely:
1) Solana (SOL)
2) XRP (XRP)
3) Binance Coin (BNB)
4) Dogecoin (DOGE)
5) Cardano (ADA)
Lastly, we’ll also analyze MicroStrategy (member request).
Find our membership cost/benefits below. If you’re serious about Making Money (our primary goal at Cycles Edge), then the Premium Sections are key for you!
