Bitcoin’s Current Structure and Outlook (2-Week vs. 9-Day Chart)

Looking at Bitcoin’s 2-week and 9-day charts side by side, it’s clear that Bitcoin is experiencing a pullback. Despite this, its overall structure remains solid, indicating a healthy retracement rather than a breakdown.

Key Observations:

1. 2-Week Chart:
• Bitcoin has broken through 70K, a significant resistance level, putting us in uncharted territory.
• As long as Bitcoin stays above 91,000, the structure remains bullish. If it drops below this level, we may see the start of an altcoin season, where capital flows into altcoins as Bitcoin consolidates.
• The neckline and Fibonacci retracements align with critical support levels, suggesting a pullback to build momentum.
2. 9-Day Chart:
• The current candle on the 9-day chart is strong and indicates price is consolidating.
• This pullback is likely a move to accumulate volume for a push through the 100K level. This is a psychological barrier, and breaking it would signify a major milestone for Bitcoin.

What to Watch For:

1. Higher Highs in 2025:
• Since Bitcoin is now in uncharted territory, it’s essential to see higher highs form in 2025 to confirm the continuation of this bull market.
• Breaking through 100K could lead to the next phase of growth, with Fibonacci extensions pointing to potential targets like 112K and beyond.
2. Altcoin Season Trigger:
• If Bitcoin drops below 91K, the momentum could shift to altcoins as traders and capital rotate out of Bitcoin.
• This aligns with historical patterns where Bitcoin consolidates after a strong rally, allowing altcoins to thrive.


Final Thoughts:

Bitcoin’s structure looks healthy despite the pullback, with strong support around key levels. The 9-day candle suggests that this retracement is a preparation for a push through 100K. However, the next big test will be maintaining support above 91K and creating higher highs in 2025 as we navigate uncharted territory.

It’s an exciting time for Bitcoin, and while my analysis leans bullish, I’m watching closely to see how the market reacts as we approach these key milestones.

P.S I do not like Bitcoin :)