Starting the Year Like 2021’S RAGING BULL, Bitcoin Price and Altcoin Market Timed with Stock Market

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Hey what’s going on everybody this is the blockchain backer bringing you the latest cryptocurrency news and Analysis today we’re going to be taking a look over here at the Bitcoin price chart and the altcoin market as we kick off 202 for the markets are off to a good start

Today as the market is mostly green we actually saw a lot of green yesterday on New Year’s Day as well but as you can see Bitcoin has broken from its range that it’s been in since December 5th getting above $45,000 this morning altcoins green and somehow someway bitcoin’s structures

Still all look oh so similar to as they did back there in 2020 heading into 2021 I put out my end of year newsletter over here on subst that’s blockchain back. substack docomo the morning last Friday we went through the one back at the end

Of 2022 to see how 2023 ended up playing out it was really very close to what expectations were if you missed markets in the morning on Friday I went through the one that I wrote a year ago so we could see how 2023 compared to what expectations looked like at the end of

2022 now as we head into 2024 it’s more of an exciting time period because we’ve completed accumulation schematics you guys spent all year Watching YouTube videos here on the channel of wof accumulation for us to finally get our way out of there now bitcoin’s getting up near the retracement levels the last

Three months the altcoin market has been the star of the show we’ll do a video on this chart in particular on its own later this week but altcoins have been crushing it of course we finished up the year with excitement with the stock market setting a new all-time high and

Now the big question is will 2024 be a super exciting year similar to one that we had back in 2021 there are lots of elements that we’ve been going through here in in the late 2023 into 2024 that we had very similar to late 2020 heading

Into 2021 as this crash ensued here in 2023 that kind of five minute flash crash then prices just settled for two months down at the lows we had something very similar back in 2020 and then prices settled at the lows in both time periods retail was screaming that we

Were going to go lower only for it to break up and go to the upside you guys have also seen this with the stock market back in 2020 the Dow Jones was finishing up a correction in here to the downside the same thing was happening here in 2023 in both time periods back

In 2020 Bitcoin goes to the upside during that time period here in 2023 Bitcoin goes to the upside during that time period retail screaming decoupling from the stock market decoupling from stock market bitcoin’s its own asset class then boom off goes the stock market boom off goes the stock market

Stock market sits an all-time high here in 2020 stock market sets an all-time high here in 2023 and so if you guys have caught my recent videos of course my Outlook and like looking forward forward into 2024 is like there’s all these elements to say like there could

Be this really exciting time period retail investors of course think that rate cuts are super bullish for the market it means the start of the new bull cycle but it doesn’t it’s always marked that it’s the end so we look out to see when rate Cuts could happen we

See there’s an 82% probability of one happening over there in March and then a 99.7% probability of one happening over there in May so it gives us a little timetable of what to look out to to say hey how have we done with rate Cuts in

The past well we go back to c19 we go back to the great financial crisis essentially we had anywhere from 2 to 7 months once those rate Cuts were in place that the market just really crumbled all the way to the ground but leading up to that was excitement in the

Market so hey things are looking good in our Market fundamentals I know a lot of people love fundamental analysis and you know good luck with that but the charts have definitely been looking strong and one thing we could do is we can go back and live in here and like what was it

Like in 2020 when these things were happening when you know stock market breaks out into all-time high here we go we’re in 2020 24 right what was it like we get into 2021 what was the market behaving like at those times and that’s where we can go back and look at the

Altcoin market this is what we’re really going to kind of talk about in this video this is the 2017 18 crash this is the long drawn out period here we go this is where the stock market sets its new all-time high and then this is January 1st 2021 this is the start of

The New Year where things kick off and go there’s some very amazing similarities to just these price levels these Fibonacci levels now compared to back then right we know this is where the stock market breaks out into the new all-time high this is where the stock market breaks out into the new all-time

High hit the new year and often away we go amazingly that’s also where we are at with the altcoin market now here we are as the stock market sets the new all-time high just as we were down in here in 2020 just below the 236 retracement level in here here we are

Start of New Year we’re sitting in between the the 382 and the 236 Fibonacci retracement level right in here as the New Year checks in here we go there we are between the 236 and the 382 as the New Year checks in then we move out on bigger time frames to look

At what the indicators look like in here as you can see we have gotten monthly crosses to come in in here take that off the screen real quick so you can see we have crossed over here on the monthly time frame macd you can see the stochastic RSI pointed all the way to

The mood you can see the relative strength index has moved it way all the way back up out of the crossing desert phase all things looking very similar to what happened as we really got going and we can look at how high the macd has gotten over in here look at that right

There where January of 2021 was as things kicked off and roared but even in here what do we have we had like four months of craziness and then really it was over after that and that’s really what my Outlook is like going into 2024 is that you know we’re nearing into this

Really exciting period but you know just like 21 it it won’t last the whole year I don’t know if the altcoin market will be that nuts but to like give you an example of like just understanding what it was like being in the market in here

If you came in in the peak of 2021 right though the group prior to you went through all of this stuff they went through all of this and they got up in here and then this is where Wall Street bets in Elon Musk happens and you have

To go through all of this to get up here before the crowd finally comes pouring back back in and so all the laser eyes Diamond hands newcomers entrance into the market say we’re just starting and that’s usually it’s usually the end but the people who stomached through this

Stuff accumulated all the lows the vast majority of the percentages are all made by accumulating down here in the lows which we’ve now left here and we’ve already left in here the biggest percentage opportunities are already passed by and then when you get through here and you get up into the higher I

Mean you’re now you’re just you’re chasing peanuts at this point and it doesn’t look like that because of where you’re at but like even from here to here that’s 145% whereas the people from down here to here it’s 2,000% or even from you know this same location we’re

At right now here to here it’s 635 per. right that’s why I always talk about how percentages mean everything the price on the actual chart doesn’t mean anything at all it’s all about the percentages and why we spent a whole year you know going through this stuff like me

Treating this is the most important you know all you know the Bitcoin Dom Bitcoin blah blah blah like I’ve been through this before I I’ve seen the math on this all this stuff before this is where those people where you know in 2021 when people pour in and they hear

About people making a ton of money it’s all those people who bought down in here it’s not the people who are buying in here they you have to you have to become desperate once you get here you have to be buying low cap pump and dump meme

Coins that are just pump and dump some dude in a basement made it and you’re praying that you aren’t the one who’s going to get rugged on it which you’re going to get rugged on 99 out of 100 of them it becomes an act of desperation to

Try to get those things which otherwise can be done without having to to succumb to that behavior right all the stuff we’ve talked about with developer data percentage draw downs and circulating Supply inflation all all those studies were done from right here at December 10th which happens to be these same

Levels that we’re at right here right now in between the 236 and the 382 but I even posed a question in markets in the morning the other day and I asked you know how many of you were here in 2021 right like do we have new coming in yet

Right cuz that I mean that’s what happened in here do we have newcomers pouring into the market yet and in the poll that was conducted in Marcus in the morning over a thousand people replied and 95% of people were here in 2021 a couple months ago I posed a question

Well how many of you were here in 2020 and only 35% of people were here in 2020 so 65% of people who are still here around right now are people who did come in here but 95% of people came in at least before here which means we haven’t

Had that new crowd come in yet right right uh but that that’ll be one of those amazing things to watch because you’ll understand that you know I was making YouTube videos back in here I was here on the YouTube channel through all of this right in here and we watched the

Prices do all of this we watched this stuff go crazy and then we watched the crowd pour in together and it was no longer fighting on Twitter or toxicity on Twitter the only toxicity would be if you were a bear if you were a bear you

Were the enemy but when you go through these periods if you’re a b you’re chastised then too it’s never going to happen don’t you realize everybody’s unemployed they’re wearing masks it’s not going to happen you’re so IR responsible right it’s the same stuff down in here right and then but once you

Got here you couldn’t be there you couldn’t you wouldn’t dare or else we were a bad human being and so I don’t think we’ve we’ve gotten to that point I think we’re getting close I think if you’re like that on bitcoin you might kind of be like that uh but Bitcoin

Definitely is getting near its retracement levels now the million dollar question is could all that action happen over there in the altcoin market while Bitcoin coins just back into retracement levels in here we’ve often goofed off uh through throughout the years that you know what always happens

Back in retracement levels is you have in retail investor Euphoria so retail investors will pour back in to buy a market back into the retracement levels and we’ve goofed off to say will the Bitcoin ETF be released at the retracement level will that be the signature marking of the retracement for

Bitcoin is if the ETF gets released exactly at like the 702 or 618 retrace and it’s pretty crazy cuz we’re supposed to have that thing in about 8 days from right now uh and look where we are for Bitcoin again the star of the show has been the altcoin market leading up until

This moment bitcoin’s way down in here from back in October till now which would be this entire moment right in here but if we go back and we look right in here from 2020 that wasn’t the case Bitcoin was really a leader in all of it throughout all of that not sitting down

As one one of the lower performers but instead leading the way and the altcoin market wasn’t roaring with it just yet and you know this has been a considered a crazy theory that I’ve had for a long time that you know we would actually see the altcoins start to get really moving

Into the retracement rather than having to wait until Bitcoin broke out into an all-time high right and this is Bitcoin working its way back up it’s a big breakout happening in here but during this whole time period uh it was it was the leader during that time of October

November and December right October November and December and that hasn’t been the case in here the altcoins have really gotten carried away up in here as bitcoin’s working its way back up into retracement levels so my focus Still Remains over here on these guys on the altcoins happening in here and are like

I showed just like how we were in 2020 how we were heading into 2021 right excitement came but excitement was shortlived uh the retail crowd poured in if we see the retail crowd pour in that’s a pretty good sign uh that things are coming to a conclusion but it’s

Definitely interesting to see it all starting to take off there for the altcoin market as Bitcoin is really just back in its retracement levels in here so I look forward to 2024 as we have now entered into it I’m very cautious of Bitcoin in particular and treat the ETF

Announcement less of something that like I’m super bullish for like right we’ve known it was coming it’s been priced in it’s been something to keep in mind um but more so that you know we’re getting back to retracement levels and what do you always have at bottoms what do you

Always have at tops you have really good news really bad news and then when we get back to retracement levels it’s going to be really good news right so how much better can it really get for Bitcoin after an ETF announcement because then what has it become it’s time to

Speculate about ETFs on altcoins man I don’t know what the narrative will be but I thought all this was very interesting you do see the altcoins getting carried away much earlier than they did back in 2020 we do see the timing of these events occurring of stock market breakout new all-time high

There occurring at the same locations for the altcoin market once again we have the timeline allowed there for the FED once they start cutting rates we do have this big thing to be mindful of here as we start out 2024 but one thing I’ll be watching for real closely right

To like really like be mindful of like let’s say that uh let’s say that we do end up getting up here and then let’s just say that there’s a big rejection that happens in here right and then we start moving our way up right in here

And this is all just happening within a couple of months right I’ll be looking towards the altcoin market and that if we do get a reje there we know that’s like a very pivotal place for rejection to happen for Bitcoin and if we get a

Big pullback and we move back in and we start getting back into a 702 retracement happening in here we’re going to be paying really close attention like every single day to say does the altcoin market take one more step up higher as Bitcoin goes back into this retracement you know giving it you

Know a week or two for a retracement to come in here and see does the altcoin market not set a new low right I mean that’s one thing you can clearly see in here that happens for Bitcoin is that Bitcoin takes out this low right in here

Right by putting in this newer low right here but notice the altcoin market it does not that same low is back in here the altcoin market is still strong still raging and it doesn’t set a new daily low like Bitcoin does and then when we get right back into the retracement the

Oqu market is still shuffling up one more that will be a sign that I’ll be looking for big time and so you would hear me screaming about that if that ends up coming that if we end up having something like this happen for Bitcoin and that if we end up topping and

Falling back right in here but this altcoin Market’s doing this and it’s still marching up like that into this moment that’s going to be a hey this has been a typical really bad sign and again these are always these things that I’m trying to stay two steps ahead of but

Knowing that that’s what happened back in here in 2021 and it’s also what happened back in here in 2017 Bitcoin sets a new daily low right in here the altcoin market does not right there there’s that same low for the altcoin market and then as it goes back into retracements altcoin Market still

Continues going higher so we’re going to be watching for that on this channel as we are at these 702 retracements for Bitcoin right now if a rejection does come out of there looking for that and looking for that allcoin market to continue roaring up after something like

That right now there’s been no new daily lows that have been set over here for Bitcoin or for the altcoin market it’s all just still continuing to set daily higher lows and until proven otherwise we’ll just keep enjoying the ride and well fingers crossed we have an epic

Show over here in the altcoin market but all right guys that’s it 2024 We’re In It here’s the hoping we get a repeat of something like 2021 I hope that you had a very safe new year and otherwise I will catch you in the next one of course

If you guys are looking for some additional content from me you can check that out over here on BCB backer.com where I have over 40 videos that I personally recorded with over 11 hours of content teaching you how to set up your own charts and your own indicators

Within trading View and coin Trader Pro teaching you about all the different Tools in there common patterns and woff accumulation distribution Elliot wave theory and then really going into the historical behavior of the cryptocurrency market and talking about a lot of how this stuff has behaved

Before and how many times it does a lot of the same things over and over again also teach you about a lot of stuff that I’ve learned throughout the years that maybe isn’t just super present on the on the chart but paying attention to like tokenomics why those percentages matter

Looking at developer data and then paying attention to crowd Behavior like we just talked about and well one of the hardest things out of all emotional management whether or not it’s down in the down in the dumps of gloom and doom or whether or not it’s in chaos and

Euphoria there is a downloadable PDF in here that does have a lot of this stuff put in there so you can go ahead and print that out or save it onto your hard drive and have it for yourself of course it’s 39 bucks one time no recurring fees

No subscriptions it’ll be yours all 40 videos and 11 hours of content right here on BCB backer.com again like I mentioned earlier in the video I do write a newsletter two times a month over here on substack it’s at blockchain backer.com I did just release it there on New Year’s Eve looking

Towards 2024 and the state of the market of where we’re at right now all the previous write-ups are still in there from developer data to percentage draw Downs to circulating Supply inflation and then tying them all in together to build a portfolio from back in 2020 and how those would have improved

Performance back then and then what would that look like today in 2023 and 2024 I did also unlock the newsletter that was written there on December 30th of 2022 if you wanted to go through here yourself and take a peek at what we were looking at as we were heading into the

New year otherwise if you are a subscriber there this has been posted there are links to the substack down here in the description of this video at blockchain back. substack docomo a link in here to BCB backer.com that’s in the description of each of my videos and live streams otherwise guys Happy New

Year 2023 was good cheers to 2024 being great all right that’s it thank you so much for watching if you could please like this video and give it a thumbs up if you’re new to the Channel Please Subscribe and hit the notification Bell so you can be notified of when I create

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