$BTC multi-timeframe analysisCRYPTOCAP:BTC is currently at a critical juncture, with three distinct trends emerging on the same chart:
Weekly Bearish Downtrend (Green):
This 1W bearish channel remains intact. Despite bullish optimism, CRYPTOCAP:BTC has not broken out of this green channel, meaning we are technically still in a bearish trend.
Daily Recovery Bullish Uptrend (Red):
On the 1D timeframe, CRYPTOCAP:BTC has been following a recovery bullish channel. However, this channel is now colliding with the top of the bearish weekly channel, creating significant resistance.
Hourly Bearish Downtrend (Yellow):
A new bearish downtrend on the 1H timeframe has formed as a result of CRYPTOCAP:BTC failing to break through the top of the 1W green bearish falling wedge.
Potential Scenarios:
Bullish Scenario 1:
If CRYPTOCAP:BTC breaks through the $90k resistance level and exits the weekly bearish channel (green), it could signal a strong long position and confirm the end of the downtrend, marking a reversal.
Bearish Scenario 2:
If CRYPTOCAP:BTC continues to follow the yellow downtrend and breaks down through the red recovery channel, this would invalidate the recovery and indicate further downside potential.
Outlook and Timeframe:
In my bearish warning from February 2025, I projected the end of the bearish consolidation by May 2025. If the bearish Scenario 2 plays out, it will confirm that this early warning was once again accurate.
However, if CRYPTOCAP:BTC manages to pump above $90k and sustain this level for at least a week, it would signal an early consolidation (one month ahead of schedule) and suggest that we are out of trouble.
Conclusion:
Watch for a confirmed breakout or breakdown.
Patience is key; wait for confirmation before making significant moves.
As always, DYOR (Do Your Own Research).
