Bitcoin could surprise with new ATHs- one of the more tricky analysis since technically BTC could be in a HTF downtrend so looking for very high upside targets is not the best idea
- that said, there are some interesting developments here:
1. PA has broken the very clear downtrend line
2. S/R flip just recently confirmed on the 4H time-frame suggests the bull strength is real
3. perhaps most importantly, Bitcoin has traded differently to US equities for the last couple of days with SPX heading sharply lower but Bitcoin not really following and even rallying (something unheard of until this year!)
It is too early to tell whether this is a new dynamic between the two and certainly far too early to say that Bitcoin has become a risk-off/alternative asset but with Trump fundamentally changing the flow of goods, services and most importantly capital it may be time to discard all the old, known asset correlations aside.
High conviction that Bitcoin heads to at least the 92k - 94k region. Possibility of a surprise run towards previous and perhaps even new ATHs is present and would be confirmed if Bitcoin starts holding the 95 - 96k level.
Ultimately, it is rather likely that the upcoming move is fake/nothing but a bear rally and lower prices are expected or at the very least it is unlikely upside PA for Bitcoin gets sustained in the long term UNTIL
.. as long as Solana is not trading below 80$, chances are we are still in a bear(ish) market.
