Bitcoin Turns Back Up _ But the Real Test Is Ahead

May 14

As I expected in the previous idea, Bitcoin(BTCUSDT) started dropping and hit all its targets—full target down. But now the question is this: in recent hours, Bitcoin has started rising again with solid momentum. One of the reasons for this increase—just like previous weeks—is Bitcoin being influenced by the S&P 500(SPX500), which had significant gains during those hours.

At the moment, Bitcoin seems to have broken the resistance lines and the resistance zone($80,800-$80,380). It looks like we should expect a pullback into these areas.

From an Elliott Wave theory perspective, given Bitcoin’s recent bullish momentum, we could anticipate a 5-wave impulsive structure in the coming hours.

I expect that after completing its pullback to the resistances, Bitcoin will start rising and could reach at least $81,690, attacking the 200_SMA(Daily). We’ll need to see if it can break that dynamic resistance or not.

First Target: $81,690

Second Target: Cumulative Short Liquidation Leverage($82,800-$82,000)

Stop Loss(SL): $79,991(Worst)

Cumulative Long Liquidation Leverage: $79,000-$78,000

CME gap: $84,560-$83,215

CME gap: $78,545-$78,220

What’s your view on Bitcoin? Can it continue its recent bullish run, or should we be ready for a market surprise?

💡 Please respect each other's opinions and express agreement or disagreement politely.

📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.

🛑 Always set a Stop Loss(SL) for every position you open.

✅ This is just my idea; I’d love to see your thoughts too!

🔥 If you find it helpful, please BOOST this post and share it with your friends.

May 15

Trade active

May 15

Trade closed: stop reached

Stop Loss was touched

Transparency is always important to me, and I will announce if the Stop Loss(SL) is touched

May 15

Note

More dumps

May 15

Note

Bitcoin Still Looks Bearish

After touching the $80,000 level, Bitcoin could still move lower from here.

At the same time, the S&P 500 appears to be losing its ascending channel structure, which may signal weakness in the broader market.

The U.S. Dollar Index (DXY) is also likely to continue its upward trend, while the U.S. 10-Year Treasury Yield remains bullish as well.

Overall, the macro conditions still suggest a bearish outlook for Bitcoin.