Bitcoin е на прага на 5mo. winning streak – историческа bullish индикация за нов ATH.

Despite the recent correction in the largest crypto asset, BTC is heading for a fifth consecutive month of gains – a similar winning streak was last seen in the post-covid bull market.
-The difference between then and now is that in 2021 we had ultra-loose monetary policy and zero interest rates. We are currently at the exact opposite pole – high interest rates in QT conditions /quantitative tightening/. Juxtaposed like that, the current winning streak looks even more impressive.

-Also – in 2021, a few months after a similar multi-month hype, Bitcoin reached its all-time high of $69K.

Many traders will probably ask themselves the question – can the current winning streak be taken as an early indication of a potential new record high?
-When BTC first went on a 5mo winning streak the price was around the previous ATH /$19K/ which led to a subsequent correction and consolidation choppy market over the next 12m.
-The second 5mo. winning streak was formed with a breakout above the previous ATH /$19K/ and a subsequent extrapolation of the momentum, which shot the prices to the levels of $57K, and a few months later it also reached the previously untouched record of $69K
-With the currently forming 5mo winning streak – the price is quite far from the ATH levels, while the momentum shows an aggressive bullish charge – similar to that of 2021. – which could be taken by crypto traders as an early indication of reaching a new all-time high in the next 12m.

Despite Bitcoin’s correction shortly after the launch of the first Spot BTC ETFs, the largest crypto-asset is heading for a 2% monthly gain for January, and record cash flow to funds shows that investors are optimistic about the long-term prospects of the crypto sector.

The upcoming halving of Bitcoin is the long-awaited main event by crypto traders. This event, which happens once every 4 years. expected on April 19, 2024. and provides the fundamental support for BTC’s continued growth.

The key is in tomorrow’s session, prices are above $42.5K so that we can actually have 5mo. winning streak. Key to the finish will also be Fed guidance / tomorrow at 21:30. – 30 min. after the decision on interest rates./ At the moment, no surprises are expected from the Fed, but a softer than expected tone from Powell would give the necessary crypto boost to extend the rally, since the crypto sector is one of the most sensitive to interest rates politics.

In conclusion: If there is no surprise tightening from Powell tomorrow and BTC manages to hold above $43K, I expect Bitcoin’s winning streak to continue, with the next rally barrier being $50K, which could be reached as early as February.