Long

Bitcoin - New all time high soon! (Follow this channel)

Updated

Bitcoin is breaking out of the bear market structure and creating a new uptrend that will lead to an all-time high! This thesis is supported by the fact that after the halving event, Bitcoin always goes up (statistically, 100% probability). The halving event took place 1 month ago and cut the reward for mines by half. It's recommended to trade with the trend to increase the probability of success in your trades.

From a technical perspective, Bitcoin has been moving in the ascending parallel channel, so you can definitely take advantage of that and buy/sell Bitcoin at the upward sloping trendlines! With TradingView, you can set an alert, and when it hits, you will get notified.

What are the resistances on the way up? As I mentioned, the upward-sloping trendline of the parallel ascending channel is the first one. The second one is the FAIR VALUE GAP (FVGAP) which was created in April 2024. Usually, the start of the GAP and the end of the GAP are strong levels by themselves. You can use these levels for your short-term trades with leverage. These resistances Bitcoin needs to break before a continuation to a new all-time high; I don't see any other significant levels worth mentioning. Always choose the strongest levels to increase the probability of success.

I am bullish on Bitcoin, and I believe we will see prices above 100k in Q3/Q4 2024. Let me know in the comment section - are you still waiting for a big crash to buy the dip? Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.

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Next week (20 May - 26 May) should be bullish!

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New parallel channel on the 1h chart:

Trade closed: target reached

Profit target reached. Trendline hit. Good profit on BTC long.

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Bitcoin just hit the red trendline mentioned in the analysis! The pump is strong. Right now, I recommend waiting for a pullback because Bitcoin created a huge GAP and these GAPS tend to be filled.

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The price of Bitcoin created a total of 3 parallel channels. The third one is pretty much exponential and not really sustainable. But you can use it as support or resistance for your short-term trades. Right now, I am still waiting for lower prices:

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Donald Trump Now Accepts Bitcoin Donations, Making Good on Crypto Promise

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Update: Bitcoin still wants to go lower, expecting lower prices. 65k is not impossible, and 68k is extremely likely at this point. Prices below 60k are no longer possible.

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Strong levels to watch in the upcoming pullback:
67400 - FVGAP
65762 - LIQUIDITY

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What will be the ultimate target for the bull market in 2025?
See my analysis on the weekly LOG chart.

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Bitcoin continues in the downtrend on the 1h chart. I am expecting a consolidation, but probably not the bottom. We will see further price decreases. A good buying opportunity will be at the bottom of the parallel channel!

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Bitcoin hit 66 350. Was this the bottom? Probably not! Still expecting one more crash.

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So summer in knocking on the door and what is happening with Bitcoin during the summer season? Pretty much nothing, price action is relatively boring and choppy. True fun beings at the end of August.

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We will active another trade on Bitcoin, once we hit the major trendline! You can also setup an alert for it, so you do not miss this opportunity.

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My estimated end of the bullish cycle: August 2025.

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Following bull trap is preparing for market participants. We can see a blue trendline, but do not try to buy it / long it!

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A lot of people are asking me, Was this the bottom and we will go to an all-time high? In my opinion, definitely not! We will see lower prices below 66k

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The market usually moves from liquidity to liquidity. Where is the next high liquid level/zone? Do not forget that whales need your orders.

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Bitcoin price action is a little bit choppy, but expecting a liquidity sweep above the previous swing high (see picture above) and then a crash!

Xanrox

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