On Thursday, Bitcoin flashed a potential “Buy” signal in the Market Sniper Discord for any recorded coaching members.

This is a screener that scans ~40 assets that are covered most by the Market Sniper community, and let’s us know when a “buy” signal might be coming.

It’s a “potential” buy signal because the Market Sniper Indicator hasn’t flashed a buy signal yet.

Jesse’s bitcoin note in the Discord

Jesse followed up yesterday with this post:

“Good morning @everyone, is RSI daily on Bitcoin about to breakout out?"

“We've been watching this downward trend line for more than a month. Obviously not financial advice, but we are still in buy the dip season, imo. RSI closed above more aggressive green trend line & bot alert in recorded coaching on Thursday as an early signal.

“We talked about that a healthy correction could last 30, 45, 60 days and from the top we are pretty close to a 45 day correction. Not too mention the halving happened yesterday.

“There are still cautions as there usually is right before a breakout.

“[But there’s] bullish divergence on MACD histogram. We talked about how the bearish divergence is cleared imo, etc, etc, etc, etc... lol 🙂 

“Now let's go hit some of the $ANF targets, if an old clothing brand can do it, why not BTC? Monthly & weekly chart are still ultra bullish AND the monthly pending reversal candle has disappeared & is why candle close > wick.

“A lot of the altcoin charts below had slight bullish divergence.”

Then Jesse posted 16 more alt coin charts with RSI trendline breaks that you can see too if you join the Market Sniper Discord.

The bear case

On the livestream on Friday, Jesse also reiterated that it’s still possible that bitcoin puts in another lower high before breaking out.

Here’s what those charts looks like:

The halving is behind us

One more note: the bitcoin halving is behind us, and that has tended to be quite bullish over the next 500 days.

Jesse retweeted this chart earlier, showing post-halving returns:

• 2012 halving: 92X

• 2016 halving: 30X

• 2020 halving: 8X

• 2024 halving: ?

What you notice about each of these returns is that they become less over time, so you might not expect another 8X this year. But if history repeats, this could be another bullish period for bitcoin and cryptocurrency altogether.

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Disclaimer

The contents of this newsletter are expressed in my opinion only, none of which is financial advice. Always do your own research as this information is intended for educational & entertainment purposes only.