$BTC 🐝 BTC UPDATE Fun fact, says a lot about current state of the market: - $BTC price on my previous BTC UPDATE (4 days ago): $89,213 - $BTC price on this BTC UPDATE: $89,288
Overall, I am still locally bullish here. There was a bearish pennant, it worked out but the price quickly returned back to the resistance and now compressing one.
Breakout of the $89,500 — bullish.
Going LONG in case of this breakout makes sense. Main three targets and two additional ones are on the chart.
$BTC 🧐 Historically, once Gold peaks in its growth cycle, Bitcoin starts to rally too. It happened:
- Back in 2012 when Bitcoin grew up for 12,000% over 2 years
- Back in 2016 when Bitcoin grew up for 3,100% over 2 years
- Back in 2020 when Bitcoin grew up for 550% over 2 years
- And now….
🙌 There will definitely be some lag — the growth won’t start instantly the moment Gold stops pumping. But here’s the key thing to keep in mind: this time, you won’t have to wait for the next Bitcoin halving to see a massive breakout above ATH in crypto.
Most likely I will be wrong on this one, but this is how I see the chart right now. Too many people in short, sentiment is extremely bearish. We don't fall when everyone expect it.
This is only one argument though. Profile volumes show huge purchases too.
Don't open high leveraged positions guys, x5 - x7 is maximum. The next week will do its best to rug all of us, no matter who you are, bear or bull.
Back to the chart: LONG from $87,600 is okey, LONG from $91,000 breakout also good. But again, current market is very difficult to preict. Safest option - stay with no position.$BTC
Perfect! We avoided entering at market in time, and BTC dropped almost to 88,200.
Here’s how to enter properly: wait for price to reach 88,200, then watch for confirmation — 1–2 candles that hold the level and close above it. That’s your long entry, and you can move your stop to break-even after confirmation.
You can use the same approach at 86,500 and 84,500 as well.
Don’t rush. Build positions smartly.$BTC
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