Bitcoin monthly, bullish signals: A boom for the Altcoins

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Bitcoin monthly, bullish signals: A boom for the AltcoinsBitcoin all time history indexINDEX:BTCUSDMasterAnandaBTCUSD (Bitcoin) has a very strong bullish bias based on the monthly timeframe. Right now the action is happening above EMA55. Back in 2023, as soon as Bitcoin moved above this level it went on to grow for more than two years. This is the third green month in a row. Bitcoin has been green for three consecutive months and the action is happening above a very important support level, the March 2024 high around $73,700. This is the high reached after the launch of the spot ETFs and it took more than seven months for this level to break as resistance, now it has been recovered and is being used as long-term support. This month opened at a price of $76,315. There was already a wick higher and one lower, current action happening very close to the open. We have one week until the month ends and everything points to a green close. On a red close, nothing changes unless support breaks. As long as the action happens above support we can expect growth based on the long-term. Demand is very strong, supply continues to shrink. Fiat money printing is about to start with great momentum and this is taken as a bullish signal for the Cryptocurrency market, especially Bitcoin. Here we see how the market has been preparing and anticipating this event. BTCUSD on the monthly timeframe points to a price next of $93,175 followed by $100,000, this is the main resistance zone in the coming months. The most important support range sits between $69,000 and $74,000. Bitcoin can be considered hyper-bullish based on the long-term timeframe as long as it trades above $64,000 which matches a higher low from February and also EMA55. Everything points higher, with plenty of room left available for additional growth. The monthly RSI already went through a reset and started to curve. The MACD looks the same as back in December 2022, after the previous bear market bottom. The monthly STOCH is hyper-bullish after entering the oversold region. As Bitcoin grows, this will create a boom across the altcoins. Namaste.