🚀 Bitcoin reached our 48,000 target within days – should you SELL now?

👇1-10) On January 26, we wrote that we were no longer bearish and expected that the nearly one-month-long consolidation was about to reverse despite marginally missing out on the 38,000 downside target by merely 522 points (actual low 38,522).

👇2-10) By January 29, we wrote that the downside wave (4) was completed, and new highs were coming. While most of our subscribers received a tactical buy signal a few days earlier when Bitcoin traded at 40,100 (note from February 7), we identified the 43,800 level as a critical breakout level that “could quickly move [Bitcoin] to 48,000”.

As we have now reached 48,000 – what should investors do?

👇3-10) On February 5, our note outlined that February tends to be bullish, and our analysis indicated that 52,000 would be reachable. In February, Bitcoin has a 70% probability of showing positive returns with average returns of +8%, based on historical precedents.

👇4-10) On February 6, we analyzed how Bitcoin tends to increase by +11% from three days before Chinese New Year (therefore, the rally should start on Wednesday, February 7, approximately Bitcoin @ 43,000) and last until early next week. These are just approximations. Last year, when we sent out this analysis, a re-tweet about our analysis received 245k views, and 24 hours later, Bitcoin was up +10%.

👇5-10) This year, with some delay, the media picked up on our analysis, as traders and market commentators were looking for an explanation for why Bitcoin had rallied so swiftly. This is creating positive momentum, and ALL regions positively contribute to Bitcoin’s rally, not only US flows, as we saw in January.

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