A Crypto analyst closely followed that it is very unlikely that Bitcoin (BTC) has already printed a bullmarkt top at $ 110,000.
In a new video update, Crypto-strategist Cheds tells his 49,800 YouTube subscribers that the long-term recording of Bitcoin remains strong because the price of BTC transactions above several advanced averages on the weekly map.
According to the analyst, Bitcoin just takes a breathing break after the climb of his 2025 low point of around $ 74,000.
“I think it is difficult to name a top here … How can you call a top? Look at this weekly graph. By definition, it is one stage one upward trend in a certain sense that it is the price above a rising EMA (exponentially progressive average) 8, and with this incredible price distance to a rising 200 and a rising 200.
So there is sufficient power. There is no way to call the top yet. We know for sure that we consolidate. ”
Bitcoin cratered in 2021 after he had eliminated the $ 69,000 level twice. The loss in Bullish Momentum led to a bear market that sent BTC to $ 16,000.
For now, Cheds sketches levels to watch while Bitcoin consolidates.
“$ 88,500 for me is the last level that should hold when $ 96,000 is tested and failed. And it is a zone, not a number … No form of top is not based on available information.”
At the time of writing, Bitcoin acts for $ 101,957.
https://www.youtube.com/watch?v=a-w1iorl6H4
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