BITCOIN: The Calm Before Target or the $100k Trap?

[Igor Pereira]

Traders, it's been a long time since we've updated our Bitcoin analysis, and for one good reason: the mid-game is dragging. In the last month, the market was basically lateral, scored only by some "scam pumps" (fake highs) here and there.

By Igor Pereira Financial Market Analyst

However, the current technical structure suggests that we are approaching a resolution. Below, I detailed the two possible paths and where I am allocating my royal capital.

We're cutting laterally through an internal dome structure. Predicting exact timing now is almost impossible; the price can drop at any time or continue in this lateralization for weeks.

• The Technical Target: Regardless of the delay, my reading remains: 76-$68.5k is the next potential target relevant down.

• Price Action: The 4-hour chart shows this clear compression, with the price stuck below the moving averages and trend lines.

• My Position: Honestly, it's hardly worth opening sold positions (Short) at these chop levels. I did not open new positions in SBIT (Short Bitcoin).

I still believe that it is much more likely that the market will fall before it goes up sustainablely. But the market loves to punish most.

• Dead Cat's Pull: If we have another high score, he'll probably find a roof in ~$94 k. The goal would just be to attract more purchased retail positions (longs) to then lock the price or drop it.

• The Alternative View ($104k): Other macro analysts are warning for a possible race to $100k - $104 k. This would form a massive pattern of "Head and Shoulders".

• Trade: If Bitcoin runs up to $100k+, would be the potential moment to enter sold (Short). It would be the perfect liquidity opportunity.

While Bitcoin decides whether to die slowly or take one last breath, my capital has been much better used in Gold (XAUUSD) ), Silver (AGQ) and Platinum/Paládio (SPPP) in the latest Premium reviews here in ExpertFX . The cost of opportunity to get stuck in a side bitcoin is high when precious metals are in parabolic trend. I'm prioritizing exposure to PGMs (Platina Group Metals) shares for ExpertFX Premium members at the moment.

Bitcoin's in nobody's land.

1. Viets: Bassist (Bearish) targeting US$76-68.5k.

2. Short trigger: Only if there's a pump stretched to $100k-$104k.

3. Focus: Leave Bitcoin aside for now and focus where there is clear trend (Metals), Gold, Silver, Platinum, these are all broken and lateralized.

If I decide to get sold into Bitcoin in case he comes up, I'll let you know here publicly. Be safe and that's what I can go through right now, while the euphoria wants to absorb liquidity, we look at it and we prepare before it happens.

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