- Huge wins in the Empire community, including a massive 1040% Litecoin trade by Head Coach Matt Foyle!
- Bitcoin struggles below $100K—are resistance zones and retracements on the horizon?
- S. government Bitcoin movements spark questions—could we see major selling pressure?
Litecoin Hits Big!
First up, a huge shoutout to Empire Head Coach Matt Foyle, who pulled off a 1040% gain on Litecoin! Using his Advanced Harmonics strategy, Matt nailed an entry at $84.22 and exited at $128.10 with a 20x leverage position. Litecoin has been on fire since its pre-election lows of $60, now up 123% on spot trading.
Crypto Market in Overdrive
The crypto market has been absolutely buzzing, with November’s monthly exchange volumes hitting $2.9 trillion, the highest in three years! This wave, which a lot of traders are calling the “Trump Pump,” has brought institutions, ETFs, and retail investors flooding into the market.
Bitcoin spot ETFs alone pulled in $6.87 billion, with outflows of just $411 million. Numbers like these are insane, but they show how much momentum the space has right now. Is it sustainable? Time will tell….
Bitcoin Hovers Under $100K
Bitcoin’s been hanging just under the $100,000 milestone, and it’s making traders question whether the momentum is fading. On the weekly chart, I’m seeing a potential Hanging Man candlestick pattern—something that can signal resistance when buyers start struggling to push the price higher.
Momentum indicators like the CCI are also showing signs of cooling off, which, in my opinion, is normal after such a massive move. Personally, I’m looking at retracement zones around $88,000 and $83,000, with the latter lining up with the 50 EMA on the daily chart. Do I think this will happen overnight? Probably not. But let’s be real, nothing goes straight up forever, no matter how much we’d love it to.
For now, I’m strapped in and ready to see what the next few weeks bring as we head toward the holidays.
Volatility and U.S. Government Bitcoin Moves
Market volatility is red-hot, and things took an interesting turn with the U.S. government transferring $1.9 billion worth of Bitcoin to Coinbase. While reports indicate only 10,000 BTC were sold, the rest—9,800 BTC—went to a newly created address.
With the government holding 183,850 BTC worth $17.7 billion (about 0.93% of the total supply), any significant sell-offs could trigger downward pressure on Bitcoin’s price. We’ve seen this before, and it’s worth keeping an eye on. Could this be a final move by the Biden administration before Trump takes office? Only time will tell.
Personally, I think it would be crazy for the US Government to sell its Bitcoin but we’ve seen this before with the German Government selling their Bitcoin at $57,600.
Win Big with Empire & Swyftx!
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- 30 days free Premium Subscription to Empire Crypto Trading (valued at $250).
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Check out the full details on the Swyftx website.
Written by Matthew Stella. At the time of writing this article, Bitcoin was trading at $95,120.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. The author takes no responsibility for any financial losses incurred as a result of trading or investing based on the information provided. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.
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