Bitcoin - Must go down to retest this pattern + new ATH soon!Bitcoin recently broke out of the head and shoulders pattern and made a pretty strong uptrend. That's a sign of strength that Bitcoin will be ready to continue in the uptrend and go to a new all time high, but not yet! I still think that Bitcoin should retest the previous Head and Shoulders pattern at around 113,300 USD. It's because this is an important liquidity level and there are a lot of orders from traders, in other words - it's a strong point of interest.
Alt season continues, so is it still good to hold Bitcoin? Not really, in my opinion you should be selling Bitcoin and prepare for a huge 2026 bear market. I expect Bitcoin to go down to 60k - 70k, but this is for another analysis. I really do not recommend buying Bitcoin, rather focus on altcoins, such as LINK or ADA. There is a potential of 50% to 200% profit in the next weeks, this is not possible on Bitcoin!
Bitcoin is relatively weak, that's why a retest of the pattern makes so much sense. In a strong bull market it may go up, but in a weak bull market we see a lot of retests. It's even possible that Bitcoin will go a little bit below the head and shoulders neckline to test the 112k level or so. So be prepared for it!
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
BTCETH.P trade ideas
BTC: From Triangle to Flag → 118K?Let's take a look at the recent market context. Bitcoin climbed aggressively, creating a powerful impulsive leg upward.
That rally formed the pole of our bullish flag, a clear continuation pattern.
After that, price consolidated, shaping a tight, downward-sloping flag, while overall momentum stayed bullish.
The critical moment came just recently when price broke out of the flag with real strength.
A decisive breakout candle!
So the bias is clear — the bullish flag is active, the breakout is confirmed, and the projection points us toward 118,000.
The structure is clean, the momentum is strong… and the market is telling the story.
Bitcoin: Easy Monetary Policy Means Buy Pullbacks. Bitcoin has rejected the 118K resistance for now, but with the FOMC behind us and an EASY monetary policy agenda ahead of us, I would be looking for buying opportunities. The current rejection of resistance is confirming the consolidation which may persist for some weeks or months but based on the current environment, there is a greater probability of a bullish break out.
The economic environment plays a key role here. Based on the history of FED rate cuts, the S&P is very likely to be higher over the coming year as a result. This implies short term pullbacks should be viewed as buying opportunities and I believe the same will be for Bitcoin. UNLESS something fundamentally changes. Like the FED changes its policy for some unexpected reason, etc.
This easy monetary policy makes a strong argument against my Wave 1, Wave 4 overlap confirmation event that occurred in Bitcoin when it briefly broke the 108K area. Since the environment favors inflation, the current consolidation developing in Bitcoin can still be the broader wave 4. This implies there is a bullish wave 5 ahead which is in line with Fed policy. The consolidation break can be very similar to how Gold behaves which recently broke out to new all time highs. Keep in mind, I am not one of these "Bitcoin is going to a trillion" Michael Saylor people, I am just interpreting the price structure through a fundamental lens.
So for swing traders and investors: I am looking for any price move back to major support levels like 113K (See chart), 108K or even the 105K area (extreme). Over the short term, pullbacks that seem dramatic can unfold which is why waiting for major levels is key. Upon such a retrace, I will be looking for reversal confirmations like pin bars etc. Also I will use my Trade Scanner Pro to define risk and profit objectives on smaller time frames like the 4H AFTER the predetermined support is reached like 113K.
Thank you for considering my analysis and perspective.
123 Quick Learn Trading Tips - Tip #8 WHERE & WHEN or WHAT size?WHERE and WHEN or WHAT size? Build an Empire?
In the war of trading, many soldiers focus only on scouting the perfect battlefield. They spend all their energy finding the perfect place ( 'where' ) and the perfect moment ( 'when' ) to launch an attack on the market. They believe a flawless entry point is the key to victory. 🧠
However, winning a single skirmish doesn't mean you will win the entire war .
A wise general knows that long-term victory depends less on one heroic charge and more on managing the army .Your capital is your army.
The secret to winning the war is not just knowing where to fight, but knowing how many troops to risk in each battle.
Committing too many soldiers—using a position size that is too large —to a single fight can lead to a devastating loss that ends your entire campaign.
But by deploying your troops wisely, you ensure that no single loss can ever wipe you out. This allows your army to survive and live to fight another day. This is how you conquer.
"To be successful in the world of trading, it is important where and when we enter, but to remain successful , what's important is what size we enter with."
- Navid Jafarian
Why did the overconfident general lose the market war?
For every battle, he knew the perfect location to attack, but his only strategy for troop size was " ALL IN! " 😂
Command your capital like a master strategist, and you won't just win trades, you'll build an empire .🏰
Look forward to our next tip!
Bitcoin will break resistance level and continue to move upHello traders, I want share with you my opinion about Bitcoin. The market dynamic for Bitcoin has undergone a significant shift, with the prior bearish trend being invalidated by a strong breakout from a downward channel. This reversal has established a new bullish market structure, with the price action for BTC now being methodically guided higher within a well-defined upward channel. This pattern has been confirmed by multiple rotations between its support and resistance boundaries, originating from the 108400 - 109400 buyer zone. Currently, the asset is undergoing a healthy correction after testing the upper part of the channel, and the price is now approaching a critical confluence of support. This area is defined by the ascending support line of the channel and the major horizontal 109400 support level. The primary working hypothesis is a long, trend-continuation scenario, anticipating that buyers will defend this support confluence. A confirmed bounce from this area would signal the end of the correction and the resumption of the primary upward trend. This move is expected to break through the intermediate 117500 resistance level. Therefore, the TP is logically placed at 119600, targeting the upper resistance line of the channel. Please share this idea with your friends and click Boost 🚀
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Bitcoin will Retest Support Before the Next Leg UpHello traders, I want share with you my opinion about Bitcoin. The market structure for Bitcoin has seen a significant shift from bearish to bullish, following a strong reversal from the 109300 - 110000 buyer zone. This pivotal move led to a breakout from a prior downward wedge, invalidating the bearish trend and establishing the current, well-defined upward channel. The price action for BTC has since been constructive, creating a series of higher highs and higher lows within the boundaries of this new channel. Currently, the asset is undergoing a healthy corrective phase after being rejected from the highs, and the price is now trading at a critical inflection point, close to the ascending support line of the channel. In my mind, this pullback represents a classic trend-continuation opportunity. I expect that the price will bounce from the channel's ascending support line. I think this rebound will have enough momentum to break through the 117500 Resistance Level and continue its rally towards the major seller zone. Therefore, I have placed my TP at 119500. Please share this idea with your friends and click Boost 🚀
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
BITCOIN This is where the fat lady sings..Well this is o secret. We've pointed that out many times before but it couldn't be more relevant than now as Bitcoin (BTCUSD) is approaching the end of its 4-year Cycle.
So where does the 'fat lady sing'? According to the 1M RSI, at the top of its historic 15-year Channel Down. Which by the end of this year it should be above (the vastly oversold condition of) 90.00.
Is there enough time to left to do so? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
BITCOIN 1W Stoch RSI completed a Bullish Cross. Expect new ATH.Bitcoin (BTCUSD) just completed a Bullish Cross on its 1W STOCH RSI and that's the first time it does so since April 07 2025. That was as we know, the previous market bottom of the Trade War correction.
In fact, every 1W STOCH RSI Bullish Cross has been a buy signal within this Bull Cycle's Channel Up (since November 2022), most of which huge. The April 2025 Bullish Leg rose by +65.92% and that has been the 'weakest' one of this Channel Up.
As a result, if we get the bear minimum of +65.92% this time around too, expect a new High around $175000, which should be the Cycle Top and in our opinion the absolute maximum that this Cycle can give.
Do you think we will go that high? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
Bitcoin - The path remains clearly bullish!💰Bitcoin ( CRYPTO:BTCUSD ) remains bullish either way:
🔎Analysis summary:
For the past 1.000 days, Bitcoin has simply been heading higher. Considering that the previous bullruns lasted about 800 days, Bitcoin is ready for a correction. But market structure tells us, that Bitcoin remains bullish, even if we see a short term correction in the near future.
📝Levels to watch:
$50.000, $1.000.000
SwingTraderPhil
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION
BTCUSD – Aiming for Higher Targets 👋Hello everyone, great to see you again! What are your thoughts on BITSTAMP:BTCUSD ?
Here’s my bullish outlook: Bitcoin is still holding its upward structure within the ascending channel. After bouncing from the support area around 110,000 USD, price has regained momentum and is now testing nearby resistance at the time of writing, aiming for the first resistance target at 123,500 USD.
If this resistance is broken, the bullish momentum could continue strongly, with higher targets at the upper boundary of the channel. Both the 34 EMA and 89 EMA are supporting this outlook. As long as BTC stays above the ascending trendline, the bullish scenario remains dominant.
This could be the chance for buyers to keep control of the market. Do you agree? Share your thoughts with me!
BTCUSD: Rally Back to 116000 ResistanceHello everyone, here is my breakdown of the current Bitcoin setup.
Market Analysis
The market for Bitcoin has seen a structural shift after breaking down from its prior Upward Channel. This event signaled a loss of bullish momentum and led to a sharp decline down to the major horizontal Support at the 112000 level.
Currently, the price has found significant support in the 111500 - 112000 Support zone and has initiated a bounce. The market is now in a potential reversal phase, but I believe the conviction of the buyers still needs to be confirmed with one final test.
My Scenario & Strategy
My scenario is built on the idea that the 112000 Support is a major area of demand that will ultimately hold. I'm looking for a strong and confirmed bounce from Support zone. This would be the key signal that the corrective low is in place and the market is ready to reverse its course and begin a new rally.
Therefore, the strategy is to watch for this successful retest. It would validate the long scenario, with the price then expected to rally back up to the point of the initial breakdown. The primary target for this move is the 116000 Resistance level, which also aligns with the Resistance Zone.
That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
BTCUSD (Bitcoin / USD) chart on the 3H timeframe:BTCUSD (Bitcoin / USD) chart on the 3H timeframe:
Current price: 112,663.
BTC has broken below the trendline and Ichimoku cloud, confirming strong bearish momentum.
A major support at 113,000 has been broken.
The chart clearly marks a downside target.
📉 Target: Around 108,000 – 108,200 (as per your chart’s marked “Target Point”).
⚠ Key zones to watch:
Resistance (turned from support): 113,000 – 114,500.
If BTC retests this zone and fails, the move toward 108,000 becomes more likely.
If BTC closes back above 115,000, it could invalidate the bearish move.
👉 So my chart’s main target = 108,000 zone.
Bitcoin: Buying Opportunity at Support Before the Next RallyHello everyone, today I’d like to share a brief analysis of Bitcoin BINANCE:BTCUSD and some key developments in the market.
Currently, Bitcoin is experiencing a mild correction after a strong rally in recent weeks. During this phase, Fair Value Gaps (FVGs) are appearing, which could provide opportunities for the market to fill price inefficiencies and continue its prior trend.
From a technical perspective, Ichimoku Cloud shows that the price is hovering around the Cloud area, a crucial region in determining Bitcoin’s next move. If Bitcoin fails to hold above its current support, we could see another slight correction before continuation.
Macro Factors Impacting Bitcoin:
US Bitcoin Reserves: The US government’s recognition of Bitcoin as a national reserve asset has strengthened investor confidence.
Corporate Adoption: Companies such as MicroStrategy are ramping up Bitcoin purchases, injecting significant capital into the market.
Monetary Policy: The Federal Reserve’s rate cuts may enhance Bitcoin’s appeal as a safe-haven investment.
Bitcoin Outlook:
Although Bitcoin is currently in a slight pullback, I anticipate that after retesting the key support zone between 113,000 and 115,000 USD, Bitcoin will attract strong buying pressure and begin to recover. If it holds these levels, the market is likely to resume its bullish momentum toward the next resistance levels, with the first target at 116,000 USD.
Therefore, if you are monitoring Bitcoin, the 113,000 – 115,000 USD range is a strategic area to consider buying, with expectations of continued upside momentum in the near term.
Wishing you successful trades and always exercise caution in your decisions!
BTCUSD Respecting Trendline – Eyes on Resistance ZoneBitcoin is maintaining its bullish structure, respecting the ascending trendline on the daily chart. Price recently reacted from the support zone and is now consolidating near 116,000. As long as the trendline holds, a potential move toward the resistance area around 122,000 – 124,000 remains in play.
Key points:
Trendline support acting as a guide for higher lows
Current consolidation above 112,000 demand zone
Resistance area: 122,000 – 124,000
Break above resistance could open room for further continuation
This analysis is for educational purposes only, not financial advice
Bitcoin - Will Bitcoin break out of range?!Bitcoin is above EMA50 and EMA200 on the four-hour timeframe and is in its ascending channel. If the downward trend continues towards the specified demand range, we can buy Bitcoin with appropriate risk-reward.
Bitcoin’s rise to around 121,000 and its arrival at the specified supply range will provide us with its next selling position. It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and capital management in the cryptocurrency market will be more important. If the downward trend continues, we can buy within the demand range.
Bitcoin continues to fluctuate within the $110,000 to $117,000 range, as reduced capital inflows into ETFs combined with intensified profit-taking exert mounting pressure on its upward momentum. In this environment, the derivatives market—driven by the strong presence of futures and options contracts—plays a central role in balancing and shaping market direction. Profit-taking by 3–6 month holders, alongside losses realized by recent buyers at price peaks, has fueled selling pressure across the market.
On-chain liquidity still maintains a constructive structure, but signs of gradual weakening are evident. Meanwhile, net ETF inflows and outflows have declined to around 500 BTC per day, significantly undermining demand from traditional finance (TradFi), which had previously been a key driver of rallies in March and December 2024.
Following the mid-August all-time high, market momentum steadily weakened, dragging Bitcoin below the cost basis of recent buyers at the top and pushing the asset back into a range-bound structure. The critical question now is whether this reflects a healthy consolidation phase or the beginning of a deeper corrective cycle.
While dip-buyers provided some support, the primary selling pressure originated from experienced short-term holders. Data shows that 3–6 month holders have been realizing approximately $189 million in daily profits (based on the 14-day moving average), accounting for nearly 79% of total short-term holder realized gains. These figures indicate that many investors who entered the market during the February-to-May correction used the recent rally as an opportunity to lock in profits—creating considerable resistance against upward continuation.
In addition to profit-taking from seasoned short-term holders, recent peak buyers also capitulated by realizing losses during the pullback, further amplifying selling pressure. Alongside on-chain dynamics, assessing external demand through ETFs remains crucial, as these instruments have been pivotal in driving the current market cycle.
Since early August, net inflows into U.S. spot ETFs have sharply declined, currently averaging around 500 BTC per day (14-day moving average). This is far below the levels of capital inflows that had previously supported the bullish phase of the cycle, reflecting weakening momentum from TradFi investors. Given the central role of ETFs in fueling Bitcoin’s recent uptrend, the slowdown in flows makes the market’s current structure noticeably more fragile.
Meanwhile, blockchain-based prediction platform Polymarket has announced a new collaboration with Chainlink. The partnership aims to launch 15-minute crypto prediction markets featuring rapid settlement and industry-leading security standards.
The integration of Chainlink’s oracle technology with Polymarket’s trading infrastructure is expected to enhance user access to accurate and reliable data, delivering a new experience in short-term prediction markets. This collaboration could mark a turning point in the development of innovative trading instruments and price forecasting tools.
BTCUSD Long: Awaiting Bounce from Channel SupportHello, traders! The prior price auction for BTCUSD was controlled by a downward wedge, which guided the price to the major 110000 DEMAND level. A strong bullish initiative from this demand zone caused a reversal and a breakout from the wedge, establishing the current bullish market structure and shifting control to buyers.
Currently, the price action is being guided by a new ascending channel. The auction has recently pushed up to test the significant horizontal supply at the 117600 level and is now in a corrective pullback phase, heading towards the lower support line of this channel for what I see as a critical test.
My scenario for the development of events is a continuation of this uptrend after the corrective dip completes. I believe the price will find strong support on the ascending demand line of the channel. In my opinion, a successful bounce from this dynamic support will confirm that buyers are still in control, triggering the next impulsive wave higher and breaking the 117600 supply level. The take-profit is therefore set at 120300, targeting the upper resistance line of the channel. Manage your risk!
Trading is Hard: Lessons From the Market's BrutalityTrading is Hard: Lessons From the Market's Brutality
Woke up today to news that reminds us just how unforgiving this game is:
“In the past 24 hours, over 404,000 traders were liquidated, with total liquidations reaching $1.7 billion. The largest single liquidation order was a $12.74 million COINBASE:BTCUSD swap on OKX:BTCUSD OKX.” - The Block
That's the reality. And if anyone ever tells you trading is easy, be wary of such people.
This post isn't meant to scare you away from trading. It's meant to show you the harsh truth of what you're signing up for. Better to see it clearly now than learn it expensively later.
🔻 The Brutality of Trading
Trading is hard. Brutal. Merciless.
The market doesn’t care how smart, strong, or experienced you are. It will humble you, strip you, and leave you helpless if you let it.
The “perfect” strategy - if it exists at all - is not enough.
Risk management cannot be overemphasized.
Emotions creep in, no matter how disciplined you think you are.
And even when you’re standing tall, one wrong step can knock you flat.
🎭 The Illusion of Perfection
Even seasoned professionals with years of experience still get crushed. I call it the trading pandemic : when a chain of events clouds judgment, breaks confidence, and brings down even the best.
The truth is: there’s no perfection in trading.
Stay long enough, and the market will test you - again and again.
It reveals more about you than about the trade itself:
Your patience
Your greed
Your fear
Your discipline when everything is falling apart
👥 Walk With the Pack, Think Solo
Communities and mentors are valuable, but use them as mirrors for blind spots, not crutches for decisions. They are human. They are imperfect. And they, too, make mistakes.
✅ Smart engagement looks like:
Sharing your analysis and letting it get torn apart before risking real money
Learning from others’ post-mortems, not copying their live trades
Listening to people who’ll call you out when you’re overleveraged or emotional
Stress-testing your risk management, not validating your bias
❌ Dangerous dependency looks like:
Jumping into trades because “everyone else is doing it”
Asking “what should I buy?” instead of “what’s wrong with my thesis?”
Copying position sizes without understanding their risk tolerance
Seeking comfort instead of seeking truth
📝 At the end of the day:
Only you know your risk profile
Only you know what you can afford to lose
Only you know the weight of your current life situation
So walk with the pack, but think solo. Listen, learn, but take ownership. Once you hit that button, responsibility is yours alone.
Trading alone blinds you to perspectives that could save you. Trading by committee blinds you to your own judgment.
The balance? Use others as radar, but you’re still flying the damn plane.
♾️ The Infinite Game
Trading is not a sprint.
It’s not about quick wins this week and liquidation the next.
This is an infinite game.
The real goal is survival, staying in the market long enough to keep playing. That’s the edge. That’s what separates traders who last from those who burn out.
Accept your losses early.
Cut them when you must.
See them as tuition fees in the school of trading.
The market doesn’t care about your degree, your confidence, or your Discord signals. It humbles everyone equally. Every loss, every liquidation, every “I’ve figured it out” moment crushed, these aren’t just money lessons.
They’re the mirror. They show you who you are under pressure.
⚔️ Final Word
You don’t have to win every battle. You just have to stay alive in the war.
The survivors aren’t the ones who never fall. They’re the ones who get back up, learn what the pain taught them, and return smarter - not just harder.
Even in defeat, rise again. The market only truly beats the trader who quits.
Survival is victory. Rise, learn, and keep playing the infinite game.
ANFIBO | BTCUSD Analysis – Weekly Trading PlanHi guys! It's me, Anfibo. My plan last week gave us a good profit selling from 118,000 USD to 115,000 USD.
And over the past weekend, BITSTAMP:BTCUSD consolidated in a sideways range, consistently holding above key support. However, with the opening of the new week’s Daily candle, the market decisively broke down through this support zone, signaling that selling pressure is now taking clearer control.
From a technical perspective, the next critical support levels to monitor are:
• $113,000
• $111,000
• $109,500
Around the $110,000 region, I view this as a pivotal area to consider initiating spot entries or building larger long-term positions. This zone is not only a technically strong support level but also carries significant psychological weight for institutional and large-scale flows.
Imo, in the short term, BTC may still attempt a retest of the $115,000 level before resuming its downward trend, depending on lower-timeframe reactions. This creates an opportunity for traders to capitalize on corrective moves.
>>> My Trading Plan for the Week:
(1) SELL SCALP:
– ENTRY: around 115,000
– SL: 117,000
– TP1: 113,000
– TP2: 110,000
(2) BUY SETUP:
- ENTRY: 109,000 - 111,000
- SL: 107,000
- TP1: 117,500
- TP2: 122,000
- TP3: 128,000
This strategy is designed for short-term trades, taking advantage of volatility within the current range. For long-term investors, patience will be key—waiting for BTC to approach $110,000 or lower provides a strategic opportunity to restructure portfolios and scale into positions at more favorable prices.
👉 Conclusion: BITSTAMP:BTCUSD has broken out of its weekend consolidation and is now entering a fresh leg down. Short-term traders should look to sell corrective bounces, while long-term investors should focus on accumulation opportunities near $110,000 - a level that could serve as a “strategic entry” for the upcoming cycle.
WISH EVERYONE A NEW WEEK FULL OF ENERGY! ;)
Bitcoin Peak Coming in 45 Days?The above chart compares Bitcoin’s previous market cycles (2017 and 2021) with its current trajectory in 2025, aiming to identify whether history might be repeating. It highlights how long Bitcoin’s bull runs last, how steep the crashes are afterward, and when the next peak and correction could happen.
🔶 2017 Peak
- Bitcoin topped out in December 2017.
- After the peak, BTC crashed by -84%, dropping from around $20K to nearly $3K.
- The bear market lasted about 1 year of decline, followed by roughly 1,065 days of bull run from the bottom before a new cycle peak.
🔶 2021 Peak
- Bitcoin peaked again in November 2021.
- Price fell by -77%, retracing from nearly $69K to about $15K.
- Similarly, the downturn lasted around 1 year of drop, and the recovery phase extended for about 1,065 days of bull run from the bottom.
🔶 2025 Peak?
- If the pattern repeats, the next top could align around late October 2025 and reach the $140K–$150K range.(1,064–1,065 days from the December 2022 bottom).
- In every cycle, Bitcoin’s crash percentage has decreased, suggesting the asset is maturing. If this pattern repeats, we could see a 60–70% drop, pushing the price back toward the $40K–$60K range.
Conclusion
Bitcoin’s historical cycles suggest a repeating rhythm of 1 year of decline followed by ~3 years of recovery and growth. Both the 2017 and 2021 cycles lasted about 1,065 days from bottom to top, with each new bull run setting higher all-time highs and each crash becoming less severe.
If this pattern continues, Bitcoin could potentially reach the $140K–$150K range by late October 2025, before facing another correction in the 60–70% range, possibly pulling the price back to the $40K–$60K zone.
While the market shows signs of maturity with institutional adoption and reduced crash percentages, history reminds us that sharp corrections often follow euphoric peaks. For long-term investors, the lesson remains clear: cycles repeat, but opportunities also return.
BTCUSD Short Setup After Trendline BreakBTCUSD just made a decisive break below the main trendline, a clear signal that bearish momentum is building. Sellers have stepped up, and the tone of the market has shifted — control is now in their hands.
In the short term, I’m watching for a retest of the broken level. What used to be support may now act as resistance. If buyers can’t push price back above that zone, it confirms weakness and opens the door for continuation lower, with 112,000 as the next key target.
Traders should keep an eye on bearish signals like rejection wicks, bearish engulfing candles, or strong sell volume. A clean reclaim above resistance would invalidate the bearish bias, but until then, sellers remain in control. Let’s see how this unfolds.
Bitcoin: Bullish Engulfing Setup Into FOMC Week.Bitcoin has formed a minor impulse structure and is currently showing a potential wave 4. The fact that it has initially rejected the 116K area resistance, but has barely retraced is a sign of strength. No wave 1, wave 4 overlap lap means a bullish wave 5 is more likely. A 5th wave can see price testing the 118 to 120K area this week. This puts my B wave scenario that I spoke about a week earlier into question which is the nature of subjective wave counts and why it is important to stay flexible.
This week we have the FOMC meeting where the FED is expected to cut interest rates by AT LEAST 25 basis points with an increasing possibility of a greater cut. Keep in mind the 25 point scenario is priced in. If they cut as expected, the focus will be on the press conference and how Powell responds to questions. This is where the market can fluctuate wildly depending on what hints he provides about future rate cuts, etc. Such a catalyst can be substantial enough to push Bitcoin into the 120K area, which will also move the other major markets dramatically as well.
What will invalidate the current bullish setup is a break back below the 113K support. IF this occurs as a result of the upcoming meeting, or any other reason, it will strengthen my B wave argument that I made the week earlier. So at this time, swing trade longs make sense, just be prepared for a dramatic change. IF for whatever reason price tests the 123Ks or higher, that will point to a potential run to the 130KS because it will confirm the current formation is still part of a broader wave 4. Yes it can be confusing, and when it is, focus more on the market structure itself.
Thank you for considering my analysis and perspective.
BTC eyes on $117,868: Semi-Major Genesis fib caused last TOPShown here is a single fib series in three different time-frames.
The Genesis Sequence (from birth) has called all major turns.
Now approaching a "semi-major" ratio of this life-cycle fib set.
It is PROBABLE that we orbit this fib a few times.
It is POSSIBLE that we break and retest for next leg.
It is PLAUSIBLE that we reject and drop to sister fib.
.
See "Related Publications" for previous charts, such as this TOP CALL from October 2024:
Hit BOOST and FOLLOW for more such PRECISE and TIMELY charts.
=========================================================
.