Two days ago, on November 23rd, I released a video, my last video, where we discussed Bitcoin coming back to 92,500 to create a consolidation before breaking 100K. Let's play the clip here. Bitcoin could consolidate here before getting a full

run through 100K. As of right now, if Bitcoin were to pull back to, you know, 92,500 or so and then, you know, form some sort of consolidation, a little bit of sideways action in this range, well, I would consider that to be very

constructive, very bullish price action. There was absolutely nothing wrong with price action like this, right? That's still an [Music] uptrend. If you were looking at social media, people were probably in a panic, you know, wondering if this is the end. Of course, every time there's a red candle,

people think that it's a really bad thing, but it's not always bad. This is a test of demand for Bitcoin, the exact level that we discussed in the last video and that price level, which is actually a pretty shallow retrace, this pullback is really nothing in Bitcoin

land. This type of a pullback that you just saw today, we call that a Monday. It's a standard day. Uh, if you take out your fibs from the last swing low and put it your swing high, you can see we, we, we actually didn't even reach the 23.6, so

this is considered a very shallow retrace. This is the smallest correction you could actually ask for in the land of Bitcoin. So, if Bitcoin holds this level and actually consolidates and breaks out again, I mean, Bitcoin's being really nice to us if that's the case, and

if Bitcoin is able to close around the overbought zone right if we bounce up and the RSI ticks up a little bit more doesn't have to be exactly 70 but if it's somewhat around the 70 level the overbought zone we bounce there I would

consider that to be a signal of major momentum and possibly continuation to the upside and now let me bring up the MACD another one of the reasons why we were looking for this pullback two days ago was the MACD the MACD was suggesting

that the Bulls were losing momentum and they were losing momentum actually since about 90,000 and MACD was trending down showing that the Bulls are losing momentum as the price was hitting higher highs that is usually a signal that there's going to be some sort of retrace

pullback dump whatever and that's what we got today and so right now I'm pretty satisfied with this price action there's a lot of demand for Bitcoin and if we hold this level I think that means we might just kind of settle up going into

Thanksgiving maybe one more test down after Thanksgiving maybe not but ultimately we're looking for the 100K level most likely by the New Year if Bitcoin maintains this trend line and just breaks out again we'll probably have 100K in December if we are unable

to maintain this trend line and we dip maybe one more time to the 38.2 FIB which is like 87,500 well then we would probably have 100K maybe at the end of December or going into the new year those are the two scenarios that I find

likely and I don't think we would be going much lower than that, that's the lowest I think we would go. More likely I think we've at least hit support for now. I mean, we're we're in the uptrend, the trend is still our friend and our bias

here, or at least my bias should be bullish. This is a custom indicator called the Trend ID signal band, which my members in Patreon and Discord have access to. This fairly simple indicator but very useful, it's helpful for helping you judge what your bias should be in

any given trend. You can see in 2022 it captured the entire bar run in 2021, the whole bull run was captured right, and so right now Bitcoin has flashed, well a while ago, that was October, we flashed the bullish signal on the Trend ID

signal band, the Trend ID signal band is suggesting our bias should still be bullish and this will probably last for a very long time. And also, not to mention something that we've discussed probably the most, which a lot of you guys probably know what I'm about to say, and

that is our parabolic trend. Bitcoin is now possibly in the beginning of the creation of what could be base 4. Now you never know how long a base is going to take to be created and you never know what it's actually going to look like.

Bitcoin could bounce off this L level, run up to 100 something and then actually pull back with a huge fakeout and then go for a full run after. Meaning that Bitcoin could play out one of those classic 30% dips before actually getting a major, uh, you know, shot up to the top.

of the parabola I mean nobody really likes to hear that right but let's say Bitcoin runs up you know into you know 105,000 or you know 110,000 even it's possible that after that happens there's a lot of profit taking and Bitcoin gives

us a mind-blowing dump into like the 80k range and then immediately just shoots back up and starts to go fully parabolic with the full final parabolic extension into 124,000 which is my target for the parabola, not the cycle peak, the parabola

based on the textbook which we've talked about a lot this scenario right here in the longer term would not be a surprise at all it would be very reminiscent of things like 2017 2017 you would have these epic runs with 40% dips Bitcoin breaks its all-time

high 40% down runs all the way up to a new high 40% down runs all the way up almost 40% down 30% down and then runs all the way to 20,000 and so people probably think that this what I just

said is crazy but it's not you know Bitcoin runs to 105 110k pulls back what is that 23 25% no big deal no big deal that is standard and then Bitcoin goes for for the full parabolic extension to a much higher target so this type of

volatility should be expected in a bull market this is the type of price action that I expect moving forward that we would continue to see a lot of demand the price continues to go up but we continue to see a lot of profit taking at a six-figure level I mean think about it

a lot of people are going to FOMO into six figures and then they're going to panic out at a major wick low wash the market and then look to rip at high speeds with high velocity way above six figures, you know, way into the 120,000

range. This is what I call Classic Bitcoin volatility. This is what I expect moving forward. I mean, short term, we hit our target 92,500. I wouldn't be surprised to see this get bought up quickly as long as the stock market as

long as the S&P 500 can remain stable in this range and continue up, Bitcoin will likely also continue up. And usually how it works as well is that when Bitcoin trickles up to a peak, a local top, like possibly, you know, I'm just throwing out

a number like 110,000, the altcoins are going to go crazy when Bitcoin is hitting that peak. And then there's a huge correction and then on this bounce, there's a there's like a major, major U moment in the market where like

portfolios are doubling or tripling in the altcoin market after that pullback in this run to a new high. Excitement reaches huge levels. Enthusiasm, sentiment is really high. People are becoming euphoric after we break into to a new high, you know, everyone that held on the

dip is rewarded for it. People are, you know, making more money than they ever have uh in the cycle thus far at this point in the cycle. Things become heavily overvalued, but it's a good time to be taking profit on your risky position, but

once again, don't be surprised to get your mind blown in a few months. Do not be surprised if this happens, and we're talking like many months. Like this drawing, this depiction is showing like March or April, that this type of a pullback would take place to retest the

parabolic trend line to finalize base four of the parabola before going vertical more or less into the textbook target of 124,000 cycle peak target. We'll have to see when do we get there, what do it look like, and then we'll analyze it as it

comes, but for now, I think this is a pretty good setup. I think altcoins are going to do fantastic going into this next local top, and that could last many months. Um, that is just, you know, the the scene right now. Things could change. I know a lot of people are going to say

well, Kev, this isn't bullish enough, but uh, we'll see. We will see how it goes. I hope you guys enjoyed this video. If you did, smash the like button, subscribe to the channel, be sure to comment below, leave your thoughts below, and join the Patreon to get in my Discord. You can

only get in my Discord by being a Patreon member. Join the community, talk to me directly every weekday morning at 10:30 a.m. eastern time. We talk about charts, trends, trades, altcoins, all that stuff. Join today, limited slots. Use that link below, and I'll see you all in the

#BITCOIN $92.5K Target Reached 📈 BOUNCE INCOMING?!?

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#BITCOIN $92.5K **Target Reached** 📈 BOUNCE INCOMING?!?

Scripts

#BITCOIN $92.5K Target Reached 📈 BOUNCE INCOMING?!?