$BTC has finally broken out of the downward parallel channe | SatoshiSwiss on Binance Square

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$BTC  has finally broken out of the downward parallel channel that has been in place since July 2024. Things are looking promising after the recent #FOMC  meeting. I am expecting $BTC to reach atleast 65k soon. 

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BTC

63,449.45

+1.12%

8.5k

0

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$BTC - beginning to recapture these recent peaks, it appears that 65k is in sight. It's time to take notice. Many of the altcoins I've mentioned appear ready to fill their gaps on the upside, especially $TAO and $AAVE . $SUI and $POPCAT have demonstrated exceptional strength in the past few weeks as well.

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Could the Altcoin season finally be approaching? The chart below illustrates the total market capitalization of altcoins, excluding the top 10. We have recently broken out of a significant parallel downtrend channel, which may be an early indicator of a potential Altcoin season. What are your thoughts on this? #altcoin #binance #bitcoin

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$BTC is on the brink of a significant upward breakout. In my last Twitter post, I mentioned how bullish the FOMC news was for $BTC, and we’ve since witnessed a strong upward momentum, just as anticipated. The ideal scenario for Bitcoin right now is to break out from the downward channel that has persisted since May 2024. If we can rise above $65K and exit this channel, I expect $BTC to reach at least $69K, with the possibility of setting a new all-time high. #bitcoin

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On the chart below, you can see the massive impact of the last FOMC meetings on $BTC . FED FOMC Meeting set for 11:30 pm today, post-market session. Projection: 25 basis points rate cut. Case 1: If the 25 basis points cut happens, expect a calm market response—it's already factored in. Case 2: If there's a surprise 50 basis points cut, we might see a rally. #Bitcoin #FOMC

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$BTC - It appears we're witnessing some de-risking activity ahead of the FOMC meeting. The recent surge following the reclaim of the $58k level has been fully retraced. It's challenging to discern how much of this movement is due to organic selling versus the market's reaction to the uncertainty leading up to Wednesday. To clarify the bias on higher time frames, we remain in a bearish market structure on both the daily and weekly charts. We've been observing consistent lower highs and lower lows since March, with the latest lower high recorded at $65k. As discussed last week, there was a potential higher low at $53k, which could potentially lead to a market structure break (MSB) if we manage to reclaim the $65k level. However, this development is still pending. At the moment, my stance is more neutral – there was some emerging bullish market structure since hitting $53k, but I would have preferred to see a continuation above $60k. Should we lose the previous higher low at $55.6k, my focus would shift towards seeking short positions targeting new lows. Tldr; It's advisable to take a step back and 'touch grass' until after the FOMC announcement on Wednesday afternoon, given the short-term directional uncertainty. #bitcoin

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