Bitcoin Surges 10% to $87,000, U.S. Stocks Follow

Bitcoin (BTC) is currently trading above $87,000, exhibiting a series of higher highs and higher lows in the short-term time frame. This upward trend coincides with the U.S. stock markets aiming to surpass significant resistance levels, suggesting a potential broader market shift.

Billionaire entrepreneur Robert Kiyosaki introduced a new acronym, "FOMM," which stands for "Fear Of Making Mistakes." He believes that this fear is what keeps people from seizing the opportunity presented by Bitcoin. Kiyosaki argues that those who act on the "fear of missing out" (FOMO) will accelerate into generational wealth, while those with FOMM will miss out on one of the greatest wealth creation opportunities in history. He predicts that the FOMM crowd will only act once Bitcoin surpasses $200,000, at which point they will deem it too expensive.

Kiyosaki advises listeners to conduct their own research and not rely solely on mainstream media narratives. He recommends learning from pro-Bitcoin experts such as Geoff Booth, Michael Saylor, Mark Moss, Larry Lepard, and Raoul Pal, as well as those who criticize Bitcoin. He emphasizes the importance of free information available on platforms like YouTube and reiterates his belief from "Rich Dad, Poor Dad" that making mistakes is a part of learning and growth.

In the short-term time frame, Bitcoin's price continues to make higher highs and higher lows, with the current 4-hour candle reaching a new higher high. The price is also breaking through the resistance at $87,000, which could lead to a short squeeze if the bulls maintain their momentum. However, a downside break from the ascending wedge is also a possibility, potentially leading to more sideways price action before a definitive rally.

On the daily chart, the next major resistance level for Bitcoin is at $91,400. The Relative Strength Index (RSI) shows a potential break of the descending trendline, which would be the first upside break since the price moved through the $91,400 resistance. This comes after the lowest low for the RSI since August 2023, indicating a potential shift in momentum.

In the weekly time frame, Bitcoin is experiencing a solid bounce from the $80,000 horizontal support level, with the potential to reach the $91,400 resistance. The RSI on this chart shows a decent bounce from the important structure at 44.00, and if it breaks through the descending trendline, it would be bullish. The Stochastic RSI continues to show upward momentum, suggesting that significant upside momentum could be on the horizon. The winds of change are indeed blowing through the crypto market, with Bitcoin leading the charge.