🚨 Blow-Off Top Brewing in
$BTC 🚨
We’ve nailed every target since late 2023: $43k, $50k, $60k, $73k, $48k, $82k, and $89k 🎯all hit with precision. Our patience has paid off, and I’m about to share even more valuable insights others won’t, because they want to capitalize on them themselves! This breakdown includes multiple scenarios, my opinions, data, and key invalidation points. 📊
Before diving in, I’d appreciate your support like, repost, and comment to help grow the channel and keep this content coming. These analyses take time, and your appreciation fuels the drive to keep sharing! 🙏
Macro Overview Recap:
If you haven’t already, check out my macro analysis on the inevitable recession. Understanding this is essential before diving into the charts.
Bitcoin Charts Analysis:
Elliott Wave Theory:
Our Elliott Wave (EW) analysis has been spot-on. We completed Wave 4 with an ABC corrective structure and entered a final impulsive wave (Wave 5), initially targeting $82k–$86k, hitting $89k as expected. We’re now meeting resistance around $89k–$90k, and need a sub-corrective wave within Wave 5, likely dipping to $68k–$73k based on Fibonacci levels. Don’t be surprised by a drop to $65k as a brief shakeout before the final pump to complete Wave 5. There’s also potential for BTC to hit $170k based on the 2.618 Fibonacci level we identified last year, though more structure is needed to confirm this.
Once traditional markets, especially the Nasdaq and S&P 500 tech stocks, correct, Bitcoin is likely to follow, leading to a blow-off top. At that point, BTC could drop to $17k–$25k, depending on the peak. This would form a massive ABC corrective pattern with Fibonacci targets at $55k and $31k before finding a bottom. This scenario aligns with a recession-driven market decline.
Invalidation Points:
This scenario could be invalidated if:
1. Markets reset/correct after 1-2 years.
2. Geopolitical tensions or wars are avoided.
3. A recession is avoided.
4. No black swan events occur.
However, if even one of these factors plays out, a market crash becomes highly probable.
Weekly Chart:
• Volume: Medium and consolidating - bullish signals emerging.
• RSI: Overbought, showing a bearish divergence since April. This is a high probability given the overbought zone but could be invalidated if RSI reaches 90.
• RSI Stochastic: Overbought but can remain so for up to a month.
• MACD: Bullish momentum, bullish cross, and lines above 0 are also bullish.
All indicators suggest BTC is gearing up for a blow-off top.
Daily Chart:
• RSI Stochastic: Overbought.
• RSI: Overbought.
• MACD: Bullish momentum, bullish cross, lines above 0 bullish.
• Volume: Strong with an “averaged” pattern.
The daily chart suggests a need for consolidation and finding solid support before another move up. A retracement is likely, aligning with our Elliott Wave (sub-Wave 4) expectation. We are getting over extended.
Liquidity and Liquidation Heatmap Insights:
Our liquidity and liquidation heatmaps on TradingView reinforce this outlook, showing significant liquidity pools aligning with our targets. Access the same tools at
dailycryptotrading.me
Conclusion:
I still strongly believe we’re forming a top, though the exact level is hard to predict. Based on our data and analysis, around $100k seems likely if the Nasdaq and S&P 500 also top out. This has been my outlook since late 2023. However, any catalysts like a recession, geopolitical changes, a black swan event, or significant market shifts could alter everything. Without these, BTC could reach as high as $170k at the 2.618 Fibonacci level, as projected in our Elliott Wave analysis from last year.
BTC’s high correlation with the tech sector makes it likely that a blow-off top is in play. We’re seeing the “Trump Pump” now, as election cycles often boost markets. But if Trump imposes tariffs on China and the EU, a trade war could hit the economy hard. Pair this with rate cuts likely to stoke inflation, and the macro picture points strongly toward a blow-off top.
In Short: BTC could reach new highs, but managing risk is crucial. All these are probabilities and not certainties. So while we’ve hit every target so far, nothing is guaranteed. Take this as free educational content to learn from and remember to do your own research! 🔍
#bitcoin #recession