$BTC - It's time for a weekend update!


We saw a brief deviation below the high-timeframe support range aligning with the April 2025 bottoming formation.
Again, as I’ve said many times before, these fakeouts are designed to wreck overleveraged traders, not investors. They are meant to trigger long stop-losses before a more durable reversal to the upside.
Because of this, over the coming days, I’ll be tracking one final key POI before scaling out of my hedges.
Even though the price has reclaimed the lost high-timeframe support range, it still has not reclaimed the 1D Bull Market Support Band around $78.5K, which has been a strong reversal zone over the last couple of months.
If that level gets reclaimed, I would flip bullish on the low-timeframes, as that would confirm this was only a brief fakeout before a more durable continuation to the upside, until then, I remain cautiously bullish.
BTC0.79%
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