A closely followed Crypto analyst thinks it’s very unlikely that Bitcoin (BTC) is already printing the top of the Bull Market for $110,000.
In a new video update, Crypto Strategist Cheds tells 49,800 YouTube subscribers that it remains strong as BTC prices trade as the long-term uptrend in Bitcoin surpasses multiple moving averages on the weekly chart.
Bitcoin is just taking its breath after climbing from around $74,000 from its 2025 low, analysts said.
“I think it’s hard to get the top here… how can you get the top? Take a look at this weekly chart. By definition, it’s a price that’s above the rising EMA (exponential moving average) 8, and it’s a stage 1 uptrend in the sense that this incredible price distance is a pretty good slope to 200, and upwards 200.
So it’s strong enough. There’s no way to get the top right yet. We certainly know that we are integrated. ”
Source: Cheds/YouTube
In 2021, Bitcoin won the crater because it failed to delete the $69,000 level twice. The bullish loss of momentum caused the bear market, which reduced BTC to $16,000.
For now, Cheds provides an overview of the levels to see Bitcoin consolidate.
“For me, $88,500 is the last level you need to keep if $96,000 is tested and fails. And it’s a zone, not a number… None of the kind is based on the information available.”
At the time of writing, Bitcoin is trading at $101,957.
https://www.youtube.com/watch?v=a-w1iorl6h4
Generated Image: Midjourney
