Bitcoin Double Bottom Breakout!

Added: 2026-05-05

[00:00:00]Bitcoin is breaking through the upside and is getting a breakout from this double bottom pattern that we have been creating. We are breaking above the neckline and this point will be crucial for Bitcoin and at the same time the stock market is exploding to the upside so we'll need to talk about that exactly in today's update video. We'll need to talk about the next Bitcoin targets that we can have a look into having a look into the to the liquidity cluster into this Bitcoin CME gap is sitting above us and many more things we will need to talk about because I am currently opening up a shorting position. We'll need to talk about that shorting position, why I'm doing so. We are currently starting to touch the Bitcoin EMA ribbons. We have gotten our first touch point and we are starting to see some greed again returning towards the market. So, we'll need to talk about that exactly and many more things in today's update video. So, as always, let's get started with that shorter time frame and yes, we are seeing a breakout to the upside.

[00:01:07]We are breaking above that previous level of resistance or initial previous support over here turning into resistance and right now we are getting a clean breakout above. So, this is looking extremely good and I've got nothing else to say honestly because in a shorter time frame I do not want to get anything confused. I am definitely still very bullish and pretty optimistic about Bitcoin. Honestly, I have been quite optimistic about Bitcoin for a pretty long time. I've been buying a lot of spot Bitcoin at these exact bottoms exactly like I've been sharing and exactly like I've been saying in my platinum group which is by the way free to join with the first link down below.

[00:01:53]I've been buying spot at the exact bottom over here. I've been opening up a leverage trade right over here which by the way I've been exiting during these peaks and after that I have been getting quite bullish and optimistic about Bitcoin again and I have been saying if Bitcoin is going to be breaking above these previous highs, I will be watching out for my next trade. More about that a little bit later but yes, I have been very bullish. I've been very optimistic about Bitcoin. I've got nothing else to say and currently we are seeing a breakout to the upside from this double bottom pattern which is looking absolutely beautiful and I see mm not a lot of people actually talking about this double bottom pattern. I do not think that this double bottom pattern is being highlighted enough because of its significance because of usually it is playing out very well and because of the price target. Because having a look into the price target of this double bottom pattern breakout, well in my opinion I want to be taking it from this uptrending level of support and then from the middle of the neckline and there you go. If you place this on towards our level of the point of the breakout, well in that case we have a target sitting at $89,000 level. And now if you open up the Bitcoin liquidity heat map, we definitely do see that at around that level there's still a lot of liquidity sitting at around these levels at around the 87K use dollar level, at around the 85K use dollar level and on top of that we also do have a open CME gap at the 83.4K use dollar level.

[00:03:28]So, in my personal opinion, I would definitely not get too bearish yet on the Bitcoin shorter time frames.

[00:03:36]I definitely do think that Bitcoin can be pushing a little bit further to the upside. I definitely do still think so and I'm still quite optimistic. However, you might say ah yeah but in the recent few videos you have been stating that you wanted to short Bitcoin, right? And yes, I've been opening up a shorting position. More about that exactly a little bit later but I just want this part to be very clear and I do not want to cause any confusion. Yes, in a shorter time frame I am still optimistic and I will still expect higher targets just like I've been expecting for a very long time for Bitcoin.

[00:04:16]However, keep in mind that maybe on that two-hour time frame we are creating a bit of a bearish divergence.

[00:04:22]We are currently trading inside of a weekend so possibly we can be seeing a bit of a cool off to be retesting this breakout to be getting a perfect retest of previous resistance turning into support right now and that would actually be a very bullish setup if you're still looking for long positions in my personal opinion. However, I will not be doing that myself. I will be starting to short the market and I will explain exactly why a little bit later.

[00:04:51]First of all, if you want to get to know the exact updates in absolute real time for my trades and my exact game plans, what I'm doing in absolute real time, make sure to join the platinum group group because over here I'm always sharing a detailed game plan about my trades, why I'm executing that in absolute real time, what I'm doing in real time, etc. So, make sure to join the platinum group with the first link down below. It is free to join so yeah, make sure to check it out. Anyways, yes, I have been starting to open up these shorting positions even though I might think that Bitcoin might come up a little bit higher and I will instantly say that I am depositing even more money into this account so I will be placing even more trades, even more short orders even higher because like I've been saying, I do think that Bitcoin can be headed even higher. So, that is why I want to be averaging into a new entry, averaging into this new swing trading position. Keep in mind my liquidation price is sitting at the $91,000 level and remind remind us about the target which was sitting at the $89,000 level of this double bottom breakout, right? So, in the case that we're going to be seeing that target getting fulfilled, I'm still not going to be getting liquidated and I'm still going to be averaging in to my to my trade higher and higher if the Bitcoin price were to pump higher and higher. So, that is going to be my game plan. I already want to build up this position slowly. The higher Bitcoin will go, the more I'm wanting to add into my position. Again, if you want to get to know the exact trades and the exact entries I will be placing, I'm going to be sharing it in my private Telegram group which again is [laughter] free to join and is definitely very valuable.

[00:06:35]That is why I'm stating it again.

[00:06:38]Anyways, I'm building up this shorting position even though I think in a shorter time frame Bitcoin can come a little bit higher. Keep in mind this position is a swing trading position. I will remain to keep this trade open for the following next few weeks, maybe even for the next few months. I've also gotten this US oil trade open from the exact peak which we have also opened publicly with our community on our X profile. I've highlighted this in my YouTube videos. I've highlighted this and again in my platinum Telegram group, I've shared every single little thing about all of the entries like you can see also shorted on the hyperliquid.

[00:07:18]Good morning keeping it all open. I'm done with oil blah blah. So, yeah I'm sharing everything in real time in my platinum group. We have shorted the exact oil top. I will remain to keep this one open for the following few weeks just like I will keep this Bitcoin trade open for the following few weeks.

[00:07:35]Yes, I do think again we can be coming a little bit higher but eventually I do think in the coming few months Bitcoin is going to be seeing further continuation to the downside. Keep in mind Bitcoin is still technically trading in a bear market. We haven't gotten any invalidations in my personal opinion yet. We haven't gotten any on-chain metrics really signaling and indicating that bear market bottom yet that we need to be watching out for our bear market bottoms. We haven't really had the true fear in the market yet, the true capitulation where most people, even the Bitcoin believers, might start to hesitate a little bit into Bitcoin's thought process. So, I do not think that the bear market bottom is in just quite yet and we're actually seeing quite the opposite. We're seeing euphoria again returning just ever so slightly into our market with the stock market hitting new all-time highs and going absolutely ballistic. By the way, I will talk about this a little bit later a bit more.

[00:08:43]However, because of this people are getting euphoric. People are getting euphoric about Bitcoin too at this current moment and this is happening while Bitcoin is hitting a cluster of resistance. We are hitting these downtrending levels of EMA ribbons.

[00:08:59]While keep in mind I'm definitely open for the idea that we were to break these EMA ribbons just like for example we have done over here, right? But that is only in the case if I do think that the bear market bottom has been hit.

[00:09:13]Yeah, the bear market bottom has been hit if the on-chain indicators are completely reset, if we're seeing complete fear in the market which is not what we're seeing right now. We are seeing euphoria again. We are seeing greed again. We are seeing no capitulation yet in the market while we are hitting this massive level of resistance which makes me believe that we're still trading in a bear market and ultimately while we are dipping our toes a little bit deeper inside of this cluster of resistance, we can go a little bit higher again but ultimately I do think that we're going to be getting a rejection from of that level. So, that is going to be my thought process. That is what I ultimately do think is going to happen and that is why I want to be shorting from this very big cluster of resistance over here. Now, if you're going to be getting interested in trading yourself as well, make sure to be checking out that we actually link with that link down below. Big deposit bonuses are available, and also there's going to be a 25% trading fee discount available. So, that is definitely very valuable. Make sure to check it out with that link down below if you're interested in trading just like I'm currently doing over on the we actually exchange. I definitely love it. There's no KYC required. Big deposit bonuses.

[00:10:32]It's a safe and reliable and secure exchange in my personal opinion, but obviously no financial advice. You should always do your own research, right? Now, definitely talking about the greed aspect, well, we can definitely see some greed again. Now, having a look into the a Bitcoin fear and greed index, uh well, this one is still pretty low arguably, right? But, during bear markets, I do think that we're seeing uh these levels of fear getting reached for much longer than most people anticipate and more more much longer than most people expect. But, having a look into my timeline, by the way, I absolutely love and I like the writings that Axle really does.

[00:11:12]Nothing against him, but just talking about the greed aspect, well, we're seeing some greed in the market again, and that is basically because of Michael Saylor. I've got a lot of people coming up to me saying, "Oh, Michael Saylor is uh buying so many amounts of Bitcoin, and this might be a reason why we might be breaking that 4-year cycle now, right?" And all of the time, I'm saying the same thing. I'm always saying, "Yeah, maybe this time could be different, but I do not think so."

[00:11:44]I think that Bitcoin history is going to be repeated. I think that the 4-year cycle is going to be getting repeated. I still do think that we're trading in a uh bear market until proven otherwise.

[00:11:56]It is very important to set clear invalidations. If we do invalidate me with this trade over here, I'm okay with that. And in that case, I've already accumulated Bitcoin for the long term during this bottoming out phase. I've been dollar cost averaging into Bitcoin. I've set aside my spot holdings. So, I'm okay with that if we invalidate this uh trade over here.

[00:12:19]However, I will always be having a look into history, especially with this macro cycle stuff until proven otherwise. And there's always reason to believe otherwise. However, for me, it's going to be very simple. We have this mid curve, right? Where on the left side, everybody is saying, "Oh, yeah, I'm just having a look into Bitcoin uh 4-year cycle." A very dumb approach, right? And then we have the mid curve making up all these reasons of why the 4-year cycle could be different this time around. Um usually these mid curve people, well, they tend to lose out on the majority of the gains. They tend to miss out on the majority of the good trades to be made.

[00:13:01]And then we've got the right side, where we've got everybody knowing of the reasons of why this time could be different and why we could be getting invalidated, but we just stick with the 4-year cycle because it has just proven out itself.

[00:13:17]And usually that's that tends to be playing out. So, I do believe I'm on the right side of the curve right now, on the right side of the uh spectrum, right? Anyways, I will still be having a look into the 4-year cycle, just like, and this is very important to remember, just like I was having a look into the 4-year cycle at the exact peak. Okay? At the exact peaks, I was also having a look into the 4-year cycle. I was saying in all of my videos that I was selling Bitcoin, that we were getting to the far right edge of the Bitcoin 4-year cycle, and that we should have been very cautious, and I have been selling uh I have been saying that I was selling all of my spot holdings.

[00:14:03]So, yeah, just like I was doing it over here, sticking to the 4-year cycle, I will be doing it right now again right over here, and I have [snorts] been doing so during the last bear market bottom as well, just like I will be doing during this bottoming out phase again. For the long term, keep in mind, we are entering that bottoming phase. I am starting to accumulate Bitcoin for the long term. Anyways, yeah, that is my opinion on currently what is happening and why I do think we're seeing a bit of greed, and why I want I am wanting to go short in the market even though this time we might get invalidated, but I do not think so, right? So, that is my idea about the current market. Anyways, if you want to get to know the exact triggers in the market when and where I'm going to be opening up my next positions, because also I'm having a look into two altcoin positions which I'm looking to short. If you want to get to to know the exact insights about that, make sure to join the platinum group with the first link down below. We are trading with the community together.

[00:15:05]Right now, the chat is getting pretty active. So, yeah, make sure to join, and we can trade all together inside of this group. Uh first link down below, it is free to join. Check out the we actually links with that link down below.

[00:15:17]Anyways, if you want to get to know more insights about my personal life, make sure to follow me over on Instagram.

[00:15:23]During this summer, I'll be sharing a lot of content on my Instagram profile.

[00:15:27]So, make sure to follow me already.

[00:15:29]Anyways, if you did enjoy today's update video, make sure to like, subscribe, share it with your friends. Check out all of the links down below, and guys, I'll see you in another update video tomorrow morning.