- Bitcoin price is seeing bullish candles following several fakeouts this month.
- BTC price needs one upswing to justify the macro thesis.
- Invalidation of the bullish scenario is a breach below $37,650
Bitcoin price back and forth nature spells for a Wyckoff accumulation in play. Traders should expect more up-trend with games and fakeouts along the way.
“The spring is in”
Bitcoin price has been a complicated chart to swing trade as the “original cryptocurrency” has experienced several erratic trend changes within the last few weeks. On a psychological level, the fakeouts and traps could justify an accumulation phase implemented by smart money. Analyzing the technicals, it seems the low point (meant to shake out traders) of the accumulation, also known as “the spring,” may have occurred.
Bitcoin price currently trades at $40,300, a level intraday traders should be very familiar with. Analyzing the Relative Strength Index, the bulls could be increasing in momentum. If the Wycoff methodology plays out, the bulls will continue to see uptrend rallies with brief retracements into significant key levels this month.
BTC/USDT 4-hour chart
Traders willing to take an early risk should consider an intraday trading plan accompanied by a dollar-cost average approach to maximize potential profit and manage risk. The ultimate target for Bitcoin price still resides somewhere in the $51,000 zone to complete the Wave D of the macro Bitcoin triangle.
Invalidation of the bullish thesis is now the swing low at $37,650. If the bears can suppress the Bitcoin price back to this level, consider $34,500 as their next target resulting in a 15% dip from the current price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: ETH and Bitcoin stabilize as market digest Trump’s 25% auto tariff
Cryptocurrencies market capitalization surges by $14 billion on Thursday, hitting the $2.83 trillion mark. Bitcoin ETFs brought in another $89.6 million, reaching nine successive days of net inflows, according to Farside data.
Crypto Morning: BlackRock spends $107 million on Bitcoin, stablecoin launches, Shiba Inu boss still offline
BlackRock, a giant with $11.5 trillion in assets under management, spent $107.9 million to fund its BTC purchase on Wednesday. The move is consistent with demand for BTC among institutional investors.
Bitcoin range-bound as momentum indicator shows trader indecisiveness
Bitcoin price hovers around $87,000 on Thursday, as RSI indicator suggests indecisiveness among traders. Glassnode reports that BTC trades in a range-bound market, as on-chain profit-and-loss-taking events are declining in magnitude.
Curve DAO rallies as developer activity hits new ATH
Curve DAO price extends its gains by 8% and trades above $0.58 at the time of writing on Thursday, rallying over 15% so far this week. DefiLlama data shows that the CRV’s developer commits hit a new all-time high (ATH), surpassing 900 commits per month.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.