BTC has finally broken out of its descending wedge channel! I’ve seen people claim otherwise, but they’re wrong! Both the daily and hourly charts confirm the breakout, and BTC is now sitting above the descending trendline, using it as support.What’s next?
The most likely scenario is a correction to around $65.5k before a push to $71k. A new rising wedge pattern has formed, and we’re currently at the top, which is acting as resistance. The MACD is also hitting a top resistance level, and the RSI is at 63, signaling it's overbought and needs to reset. There’s also an RSI bearish divergence on the daily timeframe that needs to play out.
All these factors point to a small pullback, reintegration into the rising channel at $65.5k, followed by a breakout and consolidation around $70k.
However, another scenario could unfold. With Trump almost certain to win the election, investors may already be positioning for a pump. This could cause an anomaly, pushing
BTC directly to $71k without consolidation, driven by FOMO. In this case, we’d see a pump to $71k and then consolidation between 
65K and $71k until the MACD and RSI reset lower.Let’s see how it plays out—Sunday afternoon should set the tone for the week ahead.
Note
People are expecting BTC to drop hard to 58k, but I don't think that's likely. To understand what's next, look at the weekly timeframe.We’ve already reset the MACD and RSI after the massive pump caused by ETF buying. However, there was a huge bearish divergence: despite bearish indicators and overbought conditions, the ETF buying pressure prevented
BTC from experiencing the correction it needed to go higher.This shows the strong global buying pressure for $BTC.
We’ve had a MACD bullish cross on the weekly, which suggests a significant and potentially long push to the upside. This will counter any attempts by those aiming for liquidity at $50-60k.
BTC is headed towards a solid 70k-80k range, with a top at 95k before consolidating. Will 95k mark the bull market’s peak? I don’t think so, but I do expect a 20% pullback once we reach that level.Trade fermée: cible de profit atteinte
We did it! Another prediction that was accurate. I will publish a new idea when things are a bit stabilized. Now it is hard to say if we will have a breakthrough or a rejection.Note
We got a breakthrough! BTC at 76k. I will soon publish a new idea.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.