Follow us on:


Will Bitcoin’s Bullish Structure Break? (Analysis)

Will Bitcoin's Bullish Structure Break? (Analysis)
Will Bitcoin's Bullish Structure Break? (Analysis)

The recent decline in Bitcoin’s price has raised concerns about the sustainability of its bullish structure. While the 1-hour timeframe shows resistance at the 50 EMA and 50 SMA, Nick believes that the price is on the verge of a reversal, with limited upside potential and increased downside risks.

Potential Reversal Scenarios

Nick describes a fifth-wave movement to the upside, suggesting two potential scenarios: a reversal pattern or a corrective structure, often labeled as WX y x Zed. If the former occurs, Bitcoin could experience a sharp decline, potentially revisiting the $2,420 support level.

Preference for Short Positions

Given the fragile state of Bitcoin, Nick recommends adopting a cautious approach, favoring short positions over long positions. This strategy aligns with the expectation of a reversal and the potential for further downside movement.

Key Support Levels

Nick identifies several potential support levels that could halt the downward momentum: $36-37K, $30-31K, $24-26K, and $19.8-21.8K. These levels could act as temporary resting points before the price resumes its trajectory.

Market Manipulation and Historical Pattern

Nick explores the possibility of market manipulation, suggesting that the DXY’s strength and supply-demand dynamics could contribute to price fluctuations. He also draws parallels to historical capitulation events, indicating that a healthy correction to the downside could be in the cards.

Opportunity for Future Parabolic Runs

Despite the anticipated correction, Nick remains optimistic about Bitcoin’s long-term prospects. He sees this correction as an opportunity to enter positions before the cycle turns bullish again, potentially leading to future parabolic runs.


Nick paints a picture of Bitcoin nearing a potential reversal point, with limited upside potential and increased downside risks. Short positions may be favored over long positions, and key support levels could provide temporary respite. However, the overall outlook remains positive, with the possibility of a healthy correction paving the way for future parabolic runs.

Call to Action

Nick encourages viewers to like the video if they found it helpful, subscribe to the channel for more content, and tap the bell to receive notifications for future updates.

Leave a comment

Your email address will not be published. Required fields are marked *