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⚡Bitcoin's Next Milestone🪖

Croxroad

28 Oct 2023 — 5 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

👁️‍🗨️ A Possible Reality Next Week

So, in the world of Bitcoin, its price can sometimes behave in patterns. Right now, it seems like it's doing something called a "pennant" on the daily chart, which is basically a way to predict what's coming next. This pattern often happens after a big jump or a drop in price. It's like Bitcoin took a moment to catch its breath before deciding which way it wants to go next.

This "pennant" looks like a triangle in the chart, and there's a "flagpole" which is that big price move that happened just before the triangle. So, people are watching to see if Bitcoin will break out of this triangle in either an upwards or downwards direction. It's kind of like a tug of war, and when it finally decides, it could have a big impact on where Bitcoin's price is headed.

Bitcoin had a really strong run, going up by about 30% starting in the middle of October. But when it hit $35,280, some folks decided to take their profits, which made the price stall.

Now, there are a couple of indicators, like the Relative Strength Index (RSI), that suggest the momentum might be slowing down. There are also these things called Tenkan and Kijun indicators that basically help us see what's happening with the price. They're levelling out at around $31,690 and $30,909, which could mean that Bitcoin is losing some of its strength.

So, it's possible that Bitcoin might take a step back before it starts going up again. If that happens, it could drop to around $33,000, $32,000, or even as low as $31,777. That's something to keep an eye on in the near future.

If this pennant pattern keeps going, Bitcoin's price might head upwards, breaking through the $35,000 mark and even reaching past the recent high of $35,280. In a really optimistic scenario, Bitcoin could make a big jump to hit the $40,000 level, maybe even touching the $40,153 resistance level. That would be a whopping 20% increase from where it is now.

Right now, Bitcoin is giving us mixed signals about what's coming up in the short term. However, some investors are keeping an eye out for a possible approval from the US Securities & Exchange Commission (SEC) for a Bitcoin ETF. They're also counting down to the Bitcoin halving event, which is about 187 days away. And there's some hope coming from the recent words of the Fed Chair, Powell, which caused the US Dollar to drop a bit. That's good for Bitcoin because it tends to do better when the US Dollar is weaker. So, it's a waiting game to see how things play out.

⚡ Unlocking Financial Literacy

In this captivating interview conducted by the Croxroad Podcast, we dive into the inspiring journey of Yzer, an innovative Bitcoin education platform, led by the visionary entrepreneur Sanjna Mehta. With a passionate commitment to making Bitcoin knowledge accessible to all, Sanjna and Yzer are transforming financial education in a game-changing way.

Sanjna Mehta, a dedicated Bitcoin advocate, embarked on a mission to bridge the gap between traditional finance and the decentralised world of cryptocurrencies. Inspired by her background in economics and a profound belief in the transformative potential of Bitcoin, she founded Yzer, a platform that empowers individuals to understand the intricacies of the financial world. Sanjna's journey is not just about building an educational platform but about empowering individuals to take control of their financial destinies.

Yzer is not your typical Bitcoin education platform. It introduces innovative features like human-readable identification methods and game-based learning. Users learn through interactive classes, quizzes, and games, making the educational journey engaging and fun. Yzer takes learning a step further by offering interactions with Bitcoin experts, including interviews and live sessions. Users can ask questions and discuss topics related to Bitcoin and the future of the financial world.

Yzer envisions mass adoption of Bitcoin education, challenging misconceptions and offering a promising alternative to traditional currencies. As the global economic landscape evolves, Yzer's emphasis on financial literacy and empowerment has the potential to usher in a new era of Bitcoin adoption, both among seasoned enthusiasts and those who are just beginning to explore the world of Digital currencies..

This thought-provoking interview with Sanjna Mehta is just one of many engaging conversations you can find on the Croxroad Podcast's YouTube channel. By subscribing, you'll gain access to exclusive episodes and insightful discussions like this one. Join the ever-growing community of learners and explorers – subscribe to the Croxroad Podcast's YouTube channel today! Your path to financial empowerment begins here.

Yzer is more than just a Bitcoin education app; it's a tool to empower individuals in an ever-evolving financial landscape. As you embark on your journey to financial empowerment, Yzer invites you to join the ever-growing community of learners and explorers. Download Yzer now and let's unravel the mysteries of finance together.

⤴️ Upside Tasuki Gap

This pattern is called a "bullish continuation candlestick." It's like a thumbs-up for an ongoing uptrend in the price of something, like a stock or crypto. This pattern involves three candles on a chart. The first one is a big green one, meaning the price went up a lot. The second one is also green, showing that the price continued to rise after a little jump in the opening price. Now, the third one is a downer, it's red, indicating a drop in price, but it sits in the gap between the first two green candles. This setup often suggests that the upward trend will keep going. It's like a brief pause before the party continues.