EL-SHADDAI
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Bitcoin Update: The Cruel Break Unfolds
As I mentioned in yesterday’s update, the biggest concern was the potential trendline break on $BTC—and here we are. It happened, exactly as anticipated, and “cruel” is the only way to describe it.
Now that $98K support is lost, the brief upside move was merely a bearish retest of $98K before the price turned lower. All signs point to $92K as the next target. Beyond that, $85K comes into play, a more significant level due to its untapped nature. While it’s less likely to be hit, the market is unpredictable, so we can’t rule anything out.
For now, I’d still avoid opening new positions. As I highlighted last time, $BTC.D (Bitcoin Dominance) still has room to run—far from being done. The next key resistance sits at the 60% level, and if $BTC drops impulsively, expect another 20% decline in altcoins as $BTC.D surges well beyond 60%.
While this might sound grim, it’s actually an opportunity for those patient enough to wait. Once $BTC.D spikes, you’ll have a once-in-a-lifetime chance to accumulate quality altcoins ahead of the next rally. Remember, we remain bullish on the long-term as long as BTC holds above the $90K daily low.
I’ve taken a lot of heat over the last two weeks for urging profit-taking, but here we are—40% down on most assets. Let me say it again: a major spike in $BTC.D (potentially up to 70%) has historically been a catalyst for an altcoin rally. But surviving that drop won’t be easy—it’s going to be ugly, and I won’t sugarcoat it. My goal is to prepare you, not to comfort you. I told you to beware all those crypto gurus urging you to buy now… they are clueless or dishonest. Wait for the bottom with clear signs of reversal, only then you buy “ strong coins “.
Stay disciplined, and trade safely. The opportunities are coming, but only for those ready to seize them. If you want to grow with me, click here to copy my trades and 💰🚀. Cheers!
As I mentioned in yesterday’s update, the biggest concern was the potential trendline break on $BTC—and here we are. It happened, exactly as anticipated, and “cruel” is the only way to describe it.
Now that $98K support is lost, the brief upside move was merely a bearish retest of $98K before the price turned lower. All signs point to $92K as the next target. Beyond that, $85K comes into play, a more significant level due to its untapped nature. While it’s less likely to be hit, the market is unpredictable, so we can’t rule anything out.
For now, I’d still avoid opening new positions. As I highlighted last time, $BTC.D (Bitcoin Dominance) still has room to run—far from being done. The next key resistance sits at the 60% level, and if $BTC drops impulsively, expect another 20% decline in altcoins as $BTC.D surges well beyond 60%.
While this might sound grim, it’s actually an opportunity for those patient enough to wait. Once $BTC.D spikes, you’ll have a once-in-a-lifetime chance to accumulate quality altcoins ahead of the next rally. Remember, we remain bullish on the long-term as long as BTC holds above the $90K daily low.
I’ve taken a lot of heat over the last two weeks for urging profit-taking, but here we are—40% down on most assets. Let me say it again: a major spike in $BTC.D (potentially up to 70%) has historically been a catalyst for an altcoin rally. But surviving that drop won’t be easy—it’s going to be ugly, and I won’t sugarcoat it. My goal is to prepare you, not to comfort you. I told you to beware all those crypto gurus urging you to buy now… they are clueless or dishonest. Wait for the bottom with clear signs of reversal, only then you buy “ strong coins “.
Stay disciplined, and trade safely. The opportunities are coming, but only for those ready to seize them. If you want to grow with me, click here to copy my trades and 💰🚀. Cheers!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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