Notice the black lines on this chart...
The lower line marks the January 2025 wick low.
The second line, a bit higher, matches the December-November 2024 wick low.
Last week Bitcoin smashed this resistance range and is now safely trading above it. The break of this support turned resistance turned once more support is a major bullish development.
The action as it is happening now on the weekly timeframe puts Bitcoin back in the same conditions as before the March 2025 breakdown.
Notice the entire period after the March 2025 breakdown and April recovery, this is a classic stop-loss hunt event, liquidity hunt or bear-trap. The action moved below support just to quickly recover.
This can also be read as a "failed signal."
The bears attempted to move the market lower but failed. A failed signal turns into a strong signal contrary to the initial direction of the move. So if this is a failed bearish signal it translate from a TA perspective into a strong bullish signal. This works because it reveals a double-bullish dynamic. The failed bearish continuation after breakdown reveals bears weakness, the successful recovery reveals bullish strength; two points for the bulls.
Now, the active weekly candle/session did not wick lower to test the "strong support" price range, between $89,250 and $90,500, black lines on the chart, no, instead the action is happening safely above this range.
Bitcoin is super strong right now. Strong support.
If Bitcoin were to move lower and challenge this support zone, this would become a unique opportunity, a very strong opportunity, an amazing opportunity to buy LONG with high leverage or simply accumulate more if you are spot.
If it drops, awesome, a unique buy opportunity.
If it continues higher right away we are good because Bitcoin has been green four weeks straight.
It doesn't get any better and we have the support of the entire Altcoins market which is starting to heat up. I told you we would see slow steady growth, it doesn't happen in a day because are in a long-term bullish phase but oh boy, oh boy, oh girl oh boy it will grow.
By late May 2025, everything will be green 2-3 levels up. That is, minimum 200%-300% up and that is just the start. You've been warned.
Thanks a lot for your continued support.
Feel free to follow if you enjoy the content.
Namaste.
The lower line marks the January 2025 wick low.
The second line, a bit higher, matches the December-November 2024 wick low.
Last week Bitcoin smashed this resistance range and is now safely trading above it. The break of this support turned resistance turned once more support is a major bullish development.
The action as it is happening now on the weekly timeframe puts Bitcoin back in the same conditions as before the March 2025 breakdown.
Notice the entire period after the March 2025 breakdown and April recovery, this is a classic stop-loss hunt event, liquidity hunt or bear-trap. The action moved below support just to quickly recover.
This can also be read as a "failed signal."
The bears attempted to move the market lower but failed. A failed signal turns into a strong signal contrary to the initial direction of the move. So if this is a failed bearish signal it translate from a TA perspective into a strong bullish signal. This works because it reveals a double-bullish dynamic. The failed bearish continuation after breakdown reveals bears weakness, the successful recovery reveals bullish strength; two points for the bulls.
Now, the active weekly candle/session did not wick lower to test the "strong support" price range, between $89,250 and $90,500, black lines on the chart, no, instead the action is happening safely above this range.
Bitcoin is super strong right now. Strong support.
If Bitcoin were to move lower and challenge this support zone, this would become a unique opportunity, a very strong opportunity, an amazing opportunity to buy LONG with high leverage or simply accumulate more if you are spot.
If it drops, awesome, a unique buy opportunity.
If it continues higher right away we are good because Bitcoin has been green four weeks straight.
It doesn't get any better and we have the support of the entire Altcoins market which is starting to heat up. I told you we would see slow steady growth, it doesn't happen in a day because are in a long-term bullish phase but oh boy, oh boy, oh girl oh boy it will grow.
By late May 2025, everything will be green 2-3 levels up. That is, minimum 200%-300% up and that is just the start. You've been warned.
Thanks a lot for your continued support.
Feel free to follow if you enjoy the content.
Namaste.
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💥💥💥 Early 2025 Results (NEW)
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🚨 You need PREMIUM trade-numbers to profit from Cryptocurrencies —Best timing & amazing results! 👉 lamatrades.com (Since 2017)
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
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.