Bitcoin’s Gonna Breakout… Or Is It? 🤔

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So, Bitcoin‘s down a bit, because, you know, strong US employment data. Who doesn’t love a good jobs report, am I right? 🙄 But don’t worry, the overall structure is still super bullish, because, why not? 🤷‍♂️ New highs are coming, allegedly.

The Megaphone Pattern: Because Who Doesn’t Love a Good Megaphone? 📢

Some crypto analyst, Mister Crypto (real name, I’m sure), says Bitcoin just retested a bullish megaphone pattern. And, boy, does he have a chart to prove it! 📈

Apparently, a bullish megaphone pattern is like a big, broadening structure with higher highs and lower lows. And then, BAM! Breakout to the upside! 🚀 It’s like a rollercoaster, but with more money.

Another analyst, Jelle (no relation to the jelly-filled donut), says Bitcoin’s still trading in a local range, but it’s all good because previous local highs are now support levels. Yay, support levels! 🎉

There’s just one more resistance level to overcome: $112,000. No big deal, right? 🤑 And then, it’s off to the “thin air” zone! Sounds like a real place, doesn’t it? 😂

On a longer time frame, Bitcoin’s approaching a rising trendline. Because, you know, trendlines are a thing. 📊 And once it breaks above that, “sky is the limit”! 🌟

And if you zoom out even further, some trader, Merlijn the Trader (real name, I swear), says Bitcoin’s in the final phase of a three-year uptrend. The final phase! 🎊 It’s like the last season of your favorite TV show. And the price target? $240,000! 🤑

Short Squeeze: Because Who Doesn’t Love a Good Squeeze? 🤗

Bitcoin might also benefit from short liquidations. Because, you know, shorting is a thing. 📉 And if Bitcoin surges past $111,000, over $30 million in short positions could be wiped out! 💸

Short liquidations are like a big game of musical chairs, but with money. And when the music stops, everyone buys back in, and the price goes up! 🎶 It’s like a short squeeze! 🤗

But, you know, there are risks. Because, you know, risks are a thing. 🤔 Bitcoin might flash a rare signal on the three-month chart, and then, BAM! Brutal sell-off! 😱 Down to $40,000! 🤯

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2025-07-05 08:43