$BTC Testing the breakout level again. The wicks make it look decent but it is key to close the weekly at or above this area.
You don't want to be hanging around the same support for too long. Needs to get going at some point, above $87K it should ignite some excitement again.
$BTC Did end up closing above the May highs on this weekly candle.
Still looks good as long as it keeps doing that. If not, you got your easy to follow level right there to watch.
If at some point during this trend up, we'd see a larger drawdown, the bull market support band would be the first level to watch. That one is moving up by about 1% every week so even if price remains stable, it will catch up pretty quickly.
$BTC retesting $83K, the same level I flagged earlier as a long zone.
US open in about an hour.
This is where it gets decided.
Hold $83K → continuation toward $87K.
Lose it → $80K retest likely.
$BTC Holding the retest after sweeping the stops below $83K.
But the bulls need to get this moving from this area soon, a loss of this current region would see us test the mid $70Ks where it meets the Daily 200EMA & Bull market support band.
$BTC sitting right at $83,000. This level decides the next move.
Reclaim → $87K highs in play
Rejection → $80K retest
Volatility incoming.
Which way are you leaning? 👇
#BTC
Interestingly, the two EMAs (purple 50-week EMA & green 21-week EMA) are converging and slowly building confluence in the mid- to high $70,000s
Over time, this confluence will occur at higher prices given the dynamic nature of the EMAs
More, a Golden Cross is set to occur over the next several weeks
Historically, whenever a pullback has taken place into the two EMAs in early Bull Markets, the pullback bottom would not be too far off, especially whenever deviations below the EMAs would occur
After all, successful retesting of the two EMAs in new Bull Markets has sustained bullish momentum for price
$BTC #Bitcoin
$BTC:
Exactly these days one year ago, Bitcoin was trading at the top around $124,000. I had sold every single coin I owned and was busy building a massive short position. I called for the crash, I called for the start of the bear market, and my target was $60,000.
Then October 10 happened. A day I will always remember. Altcoins losing up to 95% in one single day, the market getting completely destroyed within hours. The most brutal event I have ever witnessed, and at the same time one of the most profitable days of my trading career. While the market was bleeding, my shorts were printing.
Later, I closed all those shorts in the $60,000 region and started buying spot. Exactly the region I had been calling for since the top. I traded the move down and then positioned myself for the move up.
Now, one year later, I’m building shorts again between $86,500 and $89,500. Every pump into this region gives me another opportunity to add, and the largest orders are waiting between $88,000 and $89,500.
For more: https://t.co/Qx4dZU40Lk
$BTC The $85K level has been getting tested almost on a daily basis. Every time it tends to see some sort of reaction both as support and resistance.
Above, there's a lot of marginally lower highs sitting at $87K+. The same below with the $83K region.
I am expecting a squeeze to occur the moment either of these levels breaks.
Whales have stopped sending bitcoin:native to exchanges.
Their summer run of net deposits lasted over three months, twice as long as any other since 2023.
It ended in late August, and the flow has stayed negative since.
bitcoin:native long-term holders stayed in profit this entire cycle.
No bear market since at least 2015 has done that.
In each prior bear, LTH-MVRV fell below 1 at the cycle low, putting the cohort underwater.
This time it bottomed above 1 and is now climbing again.