Are we witnessing just a short ‘bounce’ or are we truly out of the woods? The honest answer is simple: we are not out of the danger zone yet. In my latest video, I’ll show you exactly where the market stands, where the pitfalls are, and what I’m looking for to make my move.
No Reason to Panic on the Big Picture for Bitcoin #
Let’s start with the good news. On the higher timeframes, the trend for Bitcoin is still simply ‘up’. As long as the current market structure remains intact, there is absolutely no question of a bear market. Based purely on price action, we are still in an uptrend.
My ‘Ultimate Dream Scenario’: Grabbing Liquidity #
However, there is a specific scenario that I find very interesting and that I secretly prefer. That is grabbing liquidity one more time by dipping below the last ’low’. Many people panic when the price drops below a support level with a wick, but as long as we don’t lose structural price levels on the weekly chart, this is actually a buying opportunity.
We’ve seen this before: a sharp dip that sows fear, followed by a strong upward move.
The Path to $106,000 Bitcoin and Maybe Even a New All-Time High #
When we zoom in to the 4-hour chart, however, we still see a downtrend with lower highs and lower lows. To truly flip this trend, we need to break above $106,000. If that happens, I dare say we will probably see a new all-time high again.
On the lower timeframes, there is now a crucial resistance zone for Bitcoin. This is the last point that caused a new ’low’. If we manage to reclaim this area? Then the turnaround begins and we will quickly look at targets around $95,000 and $99,000. If we don’t break through, the chance of a further decline remains high.
Trade What You See #
I don’t make it more complicated than it is: ’trade what you see’. I am interested in both shorts on a rejection at resistance, and longs on a successful breakout or support at the bottom. The market offers opportunities on both sides, as long as you patiently wait for the right confirmation.
Of course, I explain everything clearly and extensively in my video. You can watch it below!
Watch the full video analysis on YouTube
Vincent is a trader, investor, and a core member of Team DoopieCash. His passion for financial markets began at a young age; he has been actively trading and investing since he was fifteen. Vincent focuses specifically on trading Bitcoin and investing in proven growth assets like stocks. He is a firm believer in the power of technical analysis as the ultimate ’edge’ to turn off emotions and make rational decisions. In his daily analyses and videos, Vincent clearly distinguishes between his three pillars: investing, spot trading, and leverage trading.