This week Bitcoin produced its highest weekly candle close ever at $106,454. 12-May 2025 weekly session.
The previous ATH based on candle close happened on the 9-December 2024 weekly session at $104,464.
The current high is 1.91% higher than the previous one. Volume is still basically zero on this chart...
Good evening my fellow Cryptocurrency trader—likely to be morning by the time you read this—how are you feeling in this beautiful day?
Bitcoin actually did better than expected but this is not surprising, because Bitcoin is always a surprise on the positive side. This already tells us that the new bullish cycle top can turn out being something completely unexpected, the institutional wave.
The volume...
There are many ways to extract targets so don't mind me using different methods and showing the different possibilities. It is good to have a broad market perspective. Instead of just one option, we can look at all the possible scenarios.
The standard All-Time High based on the previous cycle sits at $155,601. Four years later, hyper hidden inflation, etc., we know this is not it. This same level based on dollars value, $155,000, would be something like $189,000 or $206,000 today, so we are not going to consider this level to be the end of the 2025 bull market.
There is no 180K in this setup. The next target is the 3.618 Fib extension and goes to $209,125. This is more like it. This is a very strong level and there is possibility that Bitcoin can peak right below it.
The next one and last one is the 4.618 Fib extension at $262,649... Let's consider this number for a few minutes. Close your eyes, breathe... Think of Bitcoin, late 2025 or early 2026 and consider this number. Do nothing and just let any impressions come to you. Can be visual, auditory, kinaesthetic or just mental chatter, logical. Yes, it is possible! We keep beyond $250,000 on the cards. Share your impressions in the comments section by the way.
Low volume is natural. If you look at this chart from March 2020 through November 2021 there is no significant spike in volume. It is neutral. So this signal has no use for us at this point. The data-based conclusion is the fact that Bitcoin has been going up for six weeks and volume continues to be low. It was only high when the market hit bottom in 2022 and when it broke up above the 2017 peak in early 2023, that's the highest volume.
Look at this black line:
This is the golden ratio, 1.618 Fib extension in relation to the previous market cycle. It is very interesting. This same level from years ago worked as resistance in late 2024/early 2025.
Last week Bitcoin closed above this level and this week it wicked below and finally closed above. Definitely the action happening here around $102,000. So these numbers are good.
We have a certain price of $155,601 in the coming months, this will be a very strong resistance, the midterm bull market correction can happen here. After the correction bottoms, we will have wave 5 and this one must go beyond this level in order to be real, so this opens up $209,000. Unless $155,000 is the cycle top and ATH, we are set to experience Bitcoin trading above 200K.
My friend, it is my pleasure to write for you again today. Its been so long, I cannot believe we are still seeing each other, exchanging, talking, chatting, trading, reading, writing, fighting and making up just to keep on growing together. Where were you 7 years ago? Where are you now?
Thanks a lot for your continued support.
Namaste.
The previous ATH based on candle close happened on the 9-December 2024 weekly session at $104,464.
The current high is 1.91% higher than the previous one. Volume is still basically zero on this chart...
Good evening my fellow Cryptocurrency trader—likely to be morning by the time you read this—how are you feeling in this beautiful day?
Bitcoin actually did better than expected but this is not surprising, because Bitcoin is always a surprise on the positive side. This already tells us that the new bullish cycle top can turn out being something completely unexpected, the institutional wave.
The volume...
There are many ways to extract targets so don't mind me using different methods and showing the different possibilities. It is good to have a broad market perspective. Instead of just one option, we can look at all the possible scenarios.
The standard All-Time High based on the previous cycle sits at $155,601. Four years later, hyper hidden inflation, etc., we know this is not it. This same level based on dollars value, $155,000, would be something like $189,000 or $206,000 today, so we are not going to consider this level to be the end of the 2025 bull market.
There is no 180K in this setup. The next target is the 3.618 Fib extension and goes to $209,125. This is more like it. This is a very strong level and there is possibility that Bitcoin can peak right below it.
The next one and last one is the 4.618 Fib extension at $262,649... Let's consider this number for a few minutes. Close your eyes, breathe... Think of Bitcoin, late 2025 or early 2026 and consider this number. Do nothing and just let any impressions come to you. Can be visual, auditory, kinaesthetic or just mental chatter, logical. Yes, it is possible! We keep beyond $250,000 on the cards. Share your impressions in the comments section by the way.
Low volume is natural. If you look at this chart from March 2020 through November 2021 there is no significant spike in volume. It is neutral. So this signal has no use for us at this point. The data-based conclusion is the fact that Bitcoin has been going up for six weeks and volume continues to be low. It was only high when the market hit bottom in 2022 and when it broke up above the 2017 peak in early 2023, that's the highest volume.
Look at this black line:
This is the golden ratio, 1.618 Fib extension in relation to the previous market cycle. It is very interesting. This same level from years ago worked as resistance in late 2024/early 2025.
Last week Bitcoin closed above this level and this week it wicked below and finally closed above. Definitely the action happening here around $102,000. So these numbers are good.
We have a certain price of $155,601 in the coming months, this will be a very strong resistance, the midterm bull market correction can happen here. After the correction bottoms, we will have wave 5 and this one must go beyond this level in order to be real, so this opens up $209,000. Unless $155,000 is the cycle top and ATH, we are set to experience Bitcoin trading above 200K.
My friend, it is my pleasure to write for you again today. Its been so long, I cannot believe we are still seeing each other, exchanging, talking, chatting, trading, reading, writing, fighting and making up just to keep on growing together. Where were you 7 years ago? Where are you now?
Thanks a lot for your continued support.
Namaste.
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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.
➢ FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
Related publications
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.