$400 Away From $100,000: Bitcoin’s Big Moment Is Almost Here!

Bitcoin was just $400 away from reaching the monumental $100,000 mark—it’s so close, you can almost touch it. But the question remains: why are you hesitant? Once this psychological barrier is broken, Bitcoin could be unstoppable. Crossing the $100,000 milestone is expected to generate significant inflows and attention from mainstream media and retail traders. This surge of interest, which has been absent in recent years, may drive Bitcoin even higher, potentially leaving hesitant investors behind.

This is not the time to over analyse or attempt to time a pullback. Yes, pullbacks are inevitable—a 10-15% dip in Bitcoin could result in altcoins dropping by as much as 30%. However, let me pose this question: imagine it’s 10-15 years from now, and Bitcoin is valued at $500,000 or more. Wouldn’t you regret passing up potentially the last opportunity to buy Bitcoin under $100,000, all because you were waiting for a minor pullback that never came? Don’t let the possibility of a short-term dip deter you from the opportunity for generational wealth. The plan is simple: buy Bitcoin and hold.

Despite Bitcoin hitting another all-time high overnight, its dominance has fallen below 60%, indicating increased capital flow into altcoins. However, this decline in dominance is not significant enough to indicate the start of an alt season. The Altseason Indicator Index, which we discussed last week, is still at just 33. Since the index must exceed 75 to signal alt season, we are still a long way off. For now, Bitcoin is expected to outperform most altcoins.

For those feeling underexposed or worried they’ve missed the boat, now is the time to strengthen your Bitcoin position. This market remains in its early stages, presenting long-term believers with a prime opportunity. Contact your Stormrake Crypto Broker to seize this moment.

Stormrake Spotlight: ONDO ($1.0323)

Ondo has been consolidating patiently around $1, successfully forming a base at this level and appearing ready to break out. Although price action has been subdued over the past few days, Ondo remains over 10% up from our initial mention in the Morning Note and looks set to climb higher.

BTC/USD Key Levels and Price Action:

Bitcoin has achieved another all-time high, peaking at $99.6k—just $400 shy of the golden $100k level. The 21-day exponential moving average (EMA) continues to serve as a key support and is currently holding. If the 21 EMA does not hold, the 55 EMA is likely to act as support. While there are no significant price resistances, the psychological resistance of $100k remains critical. This could be further compounded by the bearish divergence observed, with prices rising while the Relative Strength Index (RSI) declines. This divergence might temporarily prevent Bitcoin from breaking $100k, leading to a retest of the 21 EMA or even the 55 EMA. However, this divergence is expected to be short-lived, with Bitcoin inevitably crossing the $100k threshold.

BTC Total ETF Flows for 22 Nov: $ - 61.4 Million (21 Nov saw an inflow of 1 billion)

ETH/USD Key Levels and Price Action:

Ethereum continues its bullish momentum, retesting a key resistance level at $3,370 while trading above all major moving averages. After being rejected four times in the past four days, ETH is testing this critical level again. If Ethereum breaks above $3,370, it could see a clear path to $3,528. On the other hand, another rejection would likely see the 21 and 55 EMAs acting as strong support.

ETH Total ETF Flows for 22 Nov: $ - 14.2 Million (21 Nov saw an outflow of 9.0 million)

Written by Alexandar Artis

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