Bitcoin: To the Moon…or Back to Earth?! šŸš€

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So, the $BTCā€¦ itā€™s dithering, naturally. Like a bureaucrat faced with a yes/no question. Itā€™s arrived, or nearly arrived, at that fateful intersection – a rising trendline, all hopeful and optimistic, colliding with a downtrend, a testament to the inherent pessimism of the market. On Friday morning (a Friday, mind you! The universe clearly enjoys a good prank) it dared to poke its nose through that downtrend. The bulls, those ever-optimistic simpletons, are now, allegedly, back in control. But will they stay in control? Or is this all a grand illusion, a phantom limb of a breakout? One shudders to thinkā€¦ šŸ˜©

Will this breakout be legitimate?

It appears to be happening, or at least the market is claiming it’s happening. Frankly, I’ve heard more reliable predictions from a fortune cookie. The $BTC price is attempting a breakout, yes, with a frankly rather pathetic little candle body. Still, early days, dear reader, terribly early. A fakeout looms, as always, ready to snatch hope from the jaws of the bullish.

Observe, if you will, the 4-hour chart – a tangle of lines, a testament to mankindā€™s desperate need to impose order on chaos. The $BTC price was edging towards the apex of a triangle, a point of no return. Saturday was the absolute deadline for this sentiment. Now, it seems, the moment may be upon us. But let us not celebrate prematurely. Remember 2018? Remember the ā€œthis time is differentā€ pronouncements? Yes, tragic.

For the bulls to truly claim victory, they requireā€¦ well, evidence. One candle body above the downtrend is a start, but hardly conclusive. We need two, preferably three, daily candle bodies bravely holding their ground. Only then might we cautiously whisper the word ā€œlegitimateā€. And then, then the real challenge begins: breaching that $90,000 horizontal resistance. A task akin to arguing with a particularly stubborn goat.

Breakout or fakeout?

The daily timeframe, that vast expanse of time where fortunes are made and lost, reveals the sheer scale of the task ahead. The bulls, bless their naive hearts, need to simply hold the current level through this entire weekend. Not a small feat, given the marketā€™s penchant for dramatic reversals. They must then assault those blue lines on the chart, those smug horizontal resistances. A herculean task to be sure šŸ’Ŗ.

But should the bears regain control (and let’s be honest, they often do) and push the price back below both trendlines, prepare for a lengthy and disheartening journey. We could find ourselves wandering the desert of bearish sentiment for months, or even witness a full-blown collapse, a descent into the depths of horizontal support. Itā€™s all rather depressing, isnā€™t it? šŸ˜­

Is everything about to change for Bitcoin?

The weekly chart, that grand, sweeping vista of price action, suggests that a successful breakout here could propel the price back to the all-time high. A return to the glorious days, a re-test of that 8-year trendline. Perhaps a dizzying ascent to $130,000. But dare to imagine, dear reader, what might happen if we shatter that 8-year trendline? The possibilitiesā€¦ they are almost too terrifying to contemplate.

We now wait, with bated breath, for the unfolding drama. Keep a keen eye on the weekly Stochastic RSI, a fickle beast at the best of times. Currently, itā€™s posturing for a downturn, but indicators are known to change their minds, particularly when bribed with sufficient volume.

Gold, silver, stocks… they’re all enjoying a lovely little party while Bitcoin has been left nursing a regrettable hangover. This, my friends, is about to change. Bitcoin is at its absolute nadir against most other assets. And when you reach the bottom, well, the only way is up. Assume Bitcoin will start balancing things out as we approach the end of the year, through Q1, and maintain momentum into Q2. Though frankly, the sheer unpredictability of it all makes predicting anything pointless. Donā€™t say I didnā€™t warn you! šŸ¤”

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2025-12-26 14:08