Could Bitcoin Go Higher For Longer?
Investors,
Bitcoin is about to secure the highest monthly and quarterly close of all-time today.
Not only are quarterly all-time highs a sign that we’re in a bull market, it’s statistically significant according to my favorite long-term indicator, the Williams%R oscillator:
In this particular case, I’ve highlighted each of the instances where the 3M Bitcoin chart crosses above the upper-bound of its 12-period Williams%R. I’m using 12 periods because that’s the equivalent of 3 years when using quarterly candles.
Why is this momentum thrust above the upper-bound of the oscillator important?
On average, Bitcoin reached its bull market peak 12 months after this signal flashed, with a min/max range of 10-14 months. With this signal flashing with the Q1’24 close, this study implies that Bitcoin could peak between January and March 2025, highlighting how we’re potentially still early in the current bull market.
Therefore, it’s important to ask ourselves the following question:
Are we sufficiently positioned for a crypto bull market that could last another 10-14 months?
But this is only one study, right?
So we shouldn’t place too much significance on it, right?
Wrong.
In fact, I’m going to cover 30+ charts in this report for Bitcoin, Total Crypto Market Cap ($TOTAL), and Total Crypto Market Cap Excluding Top 10 Coins ($OTHERS) that indicate that we’re in the early stages of a bull market.
Through this data, I will make the case that Bitcoin’s uptrend could go much higher and last for much longer than most currently anticipate.
This will be a crypto-centric report; however, I will also cover updated metrics for the S&P 500 to examine the health of the current uptrend in the U.S. stock market. At the end of the day, the stock market analysis that I conduct every week is a vital component for crypto investors as well, because a strong stock market implies that there’s a sufficient amount of risk appetite & supportive macro fundamentals.
In other words:
If the stock market is strong, crypto should also be strong.
If the stock market is weak, crypto should also be weak.
Therefore, we can use stock market dynamics to validate crypto market dynamics.
It’s that simple.
On top of that, I’ll also be sharing the stocks that I purchased in my long-term equity portfolio over the past week, providing screenshots of purchase orders for full transparency, as I do every week.
In total, this report contains 5,000+ words and 30+ charts with jam-packed alpha.
Let’s begin.