$BTC 🐝 BTC UPDATE It was a tough analysis which took hours but ended up with a simple solution — here it is on the chart.
I do NOT think Bitcoin can go lower than $80,000 here, even hardly lower than $84,000 by some high timeframe candle.
The reason is quite simple — we are cooked otherwise. So, we either consider the first half of 2025 as a part of the bull cycle and find a LONG entry OR we accept that top was already marked and we're heading to $50k now.
I don't see many signs that the bull cycle is over. There are some, no doubts, but I believe we will see $120,000 - $125,000 on Bitcoin before the bear market starts.
💠 As for now, this still looks like a consolidation, potential Diamond pattern with the bottom around $84,000 and top around $108,000. As long as we stay inside this pattern, the market is bullish for me and all setups I am looking for are bullish.
It also correlates with all other major crypto assets that are still above crucial supports but this is the topic of next posts. #btc #BTCDipOrRebound
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