Has Bitcoin bottomed? Gareth Soloway, Chief Market Strategist at Verified Investing, digs into the Bitcoin chart and the past two cycles to answer whether this is the start of a new bull market or another lower high inside a downtrend.
Gareth walks through the descending trend line breakout on Bitcoin, why the move stalled where it did, and the one thing the chart still has not done. Price has run more than 40% off the low and pushed to roughly $82,300, sitting just under the prior pivot high near $82,865. Until that level is taken out, Bitcoin is still making lower highs and lower lows, and Gareth explains why a single higher high would change the structure of the entire chart. Video by Gareth Soloway.
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Chapters
0:00 Has Bitcoin bottomed
1:16 The descending trend line breakout
1:48 Why this is not a confirmed bull market yet
2:40 Two bear flags converge to cap the rally
4:52 What a higher high would change
5:25 The 2017 and 2021 cycle bottoms
6:53 Why the current cycle is 100 days short
7:44 Gold cycles, M2 and the digital gold case
9:50 21% versus 42%, the bounce comparison
11:58 Rumble Wallet
12:53 Ethereum bull flag holding
13:40 Hyperliquid short setup near $91
14:15 Zcash negative divergence and downside targets
15:44 Final thoughts
Probability over emotion, being the casino instead of the gambler, and why following the charts beat chasing fear and greed.
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