Everyone online is buzzing that Bitcoinâs cycle top might already be in, and a bear market could be starting. Letâs jump into the charts đ§ and check if thereâs any real sign of a top.
BTCUSD (Monthly)
đ On the monthly chart, not much drama â still looking healthy â . Price is above previous highs and clearly trending upwards.
BTCUSD (Weekly)
đ Currently, Bitcoin is consolidating above its previous highs. As long as it stays above, the chart still looks strong đȘ
đ Structurally, this chart stays bullish even if it dips to $100K. Itâs far, but on the high-timeframe, the structure supports it.
đ Range bounded
While social media is full of noise đą, zooming out shows Bitcoin has been trading in the same range for 5 weeks. Everyone flips between ultra-bullish and ultra-bearish, but price barely moves.
â ïž Concerning part: Thereâs one thing on the chart that catches attentionâŠ
đ» Thereâs a weekly fake-out on Bitcoin â also called an SFP (Swing Failure Pattern).
đ Looking at history, weekly fake-outs usually signal a strong move in the opposite direction. Even the 2021 top happened after a fake-out, so this pattern canât be ignored âĄ.
My market thoughts: I personally donât think the top is in yet. One candle isnât enough to decide the future; I focus on structure, and itâs still bullish đ
đ€ Not sure if Bitcoin will just pull back slightly above $112K or drop deeper to the $100Kâ108K zone. As long as the structure holds, things look fine đ.
Everyone got too hyped about Altseason last week đ„. Market makers love shaking out late buyers.
So far, no crazy top signals. ETH is still below its 2021 ATH, most altcoins are struggling đ«. True market tops usually have euphoria and huge moves â we havenât seen that yet.
I might be wrong, but Iâd love to hear your thoughts đŹ.
