BitcoinLong
Bitcoin will go up only after 5 months in May 2025
I am super bullish on Bitcoin but also take a realistic view at the technical charts and fundamentals.
First to look at the fundamentals people are still too bullish the market sentiment is not switched to bearish and panic. That's not a good sign to move up.
The fear and greed index is still on greed, so people are not afraid to loose.
There has at lease to be a reset in the sentiment and I don't see that happen soon.
Everybody is hoping with Trumps inauguration the market will go up. But I believe nothing will happen.
The market will consolidate for a couple of months.
Q1 2025 price will not go up that will create the real fear and doubt that's needed. Because people expect the price will go up in Q1 and that doesn't happen.
People are going to get exhausted because it's taking too long, panic sell, ect.
All this will create a bull flag between 107k and 91k the bull flag will take till may - june.
From that point the price will move up.
Looking at the technicals:
From the last bull flag till now BTC moved 60% up. Looking at the current candles it's doesn't look organic that the price move another 60% within this month. The price has to consolidate to get the fuel to move another 50% to maybe 150K.
It looks so strange technically that BTC will make another bull move from here.I don't see that happen soon.
So off course I'm invested already because I was hoping that the price would move up straight away. But I will exit all my positions for BE. And wait for a better entry.
Because price will test the demand zone at 87K for sure before moving up.
First to look at the fundamentals people are still too bullish the market sentiment is not switched to bearish and panic. That's not a good sign to move up.
The fear and greed index is still on greed, so people are not afraid to loose.
There has at lease to be a reset in the sentiment and I don't see that happen soon.
Everybody is hoping with Trumps inauguration the market will go up. But I believe nothing will happen.
The market will consolidate for a couple of months.
Q1 2025 price will not go up that will create the real fear and doubt that's needed. Because people expect the price will go up in Q1 and that doesn't happen.
People are going to get exhausted because it's taking too long, panic sell, ect.
All this will create a bull flag between 107k and 91k the bull flag will take till may - june.
From that point the price will move up.
Looking at the technicals:
From the last bull flag till now BTC moved 60% up. Looking at the current candles it's doesn't look organic that the price move another 60% within this month. The price has to consolidate to get the fuel to move another 50% to maybe 150K.
It looks so strange technically that BTC will make another bull move from here.I don't see that happen soon.
So off course I'm invested already because I was hoping that the price would move up straight away. But I will exit all my positions for BE. And wait for a better entry.
Because price will test the demand zone at 87K for sure before moving up.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.