Hey traders! 👋
Bitcoin’s currently hanging around $94,100, and it just broke out of a multi-month diagonal resistance with strong volume and a solid daily close above all the SMAs and EMAs—bullish reversal confirmed! 🔥
Here’s what I think might play out between now and June:
Phase 1: Rally Toward Higher High (Now → May 1st)
Target: ~$99,600 (key horizontal + trendline resistance)
BTC is making a strong parabolic move with increasing volume and RSI confirming strength.
Break above $96 K → quick push toward psychological resistance near $100 K.
Expect a local top (HH) to form around late April to May 1st.
Phase 2: Pullback & Higher Low (May → June 1st)
Target Zone: ~$83 K–$86 K (confluence of multiple support zones + volume shelf)
A healthy correction is expected after tagging the upper resistance.
Formation of a higher low (HL) will validate a long-term uptrend.
Time-based support appears aligned with early June, matching your HL arrow.
Phase 3: Trend Continuation (Post June 1st)
If BTC forms a higher low and maintains structure, the next move targets:
$105 K–$109 K (Fibonacci extension + ATH zone)
Break above $99.6 K would flip this into macro bull territory
Key Levels to Watch:
Resistance $99,600 Horizontal + trendline rejection
HL Zone $83 K–$86 K Fib & breakout base, HL formation
Support $79.4 K 0.5 Fib — invalidation if lost
Summary:
BTC is in the midst of a potential higher high formation, targeting ~$99.6K by early May. A correction is then likely, forming a higher low in the ~$83 K–$86 K range into early June, setting the stage for a macro breakout run.
Bitcoin’s currently hanging around $94,100, and it just broke out of a multi-month diagonal resistance with strong volume and a solid daily close above all the SMAs and EMAs—bullish reversal confirmed! 🔥
Here’s what I think might play out between now and June:
Phase 1: Rally Toward Higher High (Now → May 1st)
Target: ~$99,600 (key horizontal + trendline resistance)
BTC is making a strong parabolic move with increasing volume and RSI confirming strength.
Break above $96 K → quick push toward psychological resistance near $100 K.
Expect a local top (HH) to form around late April to May 1st.
Phase 2: Pullback & Higher Low (May → June 1st)
Target Zone: ~$83 K–$86 K (confluence of multiple support zones + volume shelf)
A healthy correction is expected after tagging the upper resistance.
Formation of a higher low (HL) will validate a long-term uptrend.
Time-based support appears aligned with early June, matching your HL arrow.
Phase 3: Trend Continuation (Post June 1st)
If BTC forms a higher low and maintains structure, the next move targets:
$105 K–$109 K (Fibonacci extension + ATH zone)
Break above $99.6 K would flip this into macro bull territory
Key Levels to Watch:
Resistance $99,600 Horizontal + trendline rejection
HL Zone $83 K–$86 K Fib & breakout base, HL formation
Support $79.4 K 0.5 Fib — invalidation if lost
Summary:
BTC is in the midst of a potential higher high formation, targeting ~$99.6K by early May. A correction is then likely, forming a higher low in the ~$83 K–$86 K range into early June, setting the stage for a macro breakout run.
Trade active
Bitcoin is approaching the critical resistance point, eyes open.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.