Bitcoin: Massive Resistance Above!

Added: 2026-05-12

[00:00:00]Hi legends. Hope you're all having a fantastic day. Let's do a quick little update here on the price of Bitcoin.

[00:00:05]Some of the key areas from a resistance perspective and also from a support perspective that I'm currently keeping an eye on. Yes, I know Bitcoin is pushing here to the upside and can it stop? Will it see a rejection? And this is what we need to figure out. Remember to smash up that like button. Let's get into it. First thing I want to highlight over here is you can see during this entire range, this is where the most amount of volume was traded during this entire range. First thing I want to highlight is when I switch on my support and resistance, you can see that price is aggressively pushing here to the upside. And the first major area of resistance is this high volume node at around $84,000.

[00:00:42]So, can Bitcoin absolutely smash through this level? We'll have to see. But this is a major area of resistance that I'm currently keeping an eye on for a rejection for potential shorting opportunity. From a momentum perspective, you can see that Bitcoin has broken this downs sloping trend when you connected from the all-time high to this little pivot. And now Bitcoin has broken out and performed a beautiful retest on the trend. And now the question is, can it get acceleration here to the upside? Remember that area of resistance that I've pointed out. It needs to smash through that level and close daily candles above to confirm continuation to the upside. Otherwise, that could be a rejection zone. But the most important thing to mention that the momentum that Bitcoin has now created here to the upside can also be tracked from a momentum perspective. Basically from a trend line perspective. Okay, it created a wave, it bounced and now what you want to see is continuation to the upside. So if Bitcoin comes back to this trend that could potentially signal a buying opportunity to join the momentum to the upside. Something else that I want to point out over here, as per the support and resistance that I've just shown you here on the higher time frames, you can also see that when you take an anchored VWAP from the all-time high, you can see the rejection that took place when price tapped this area for the first time. And now price is approaching this zone again. Here you've got the anchored VWAP ever so slightly just below the 0.7 Fibonacci. And as per that major area of resistance, you can see that price has formed a little order block over here. So for the bulls, this area needs to break through with high volume and I would like to see volume increase to confirm momentum to continue to the upside or this could be the rejection zone for a slight deeper correction perhaps back into that trend where I will be looking for that longing opportunity. But definitely a zone where I will be paying attention for a potential short. Now a couple of IOT wave scenarios that I quickly want to point out is from the low that was created here at around $60,000. This could be a three-wave structure in a W three-wave structure to complete your X-wave. And now for the Y-wave, it has to form an ABC to the upside where that rejection area that I've just highlighted from a resistance perspective is also the minimum target for the C-wave here to the upside. Okay.

[00:02:53]When I measure from a Fibonacci perspective, the A and the B wave, the 0.618 618 is around about $83,000 which is in confluence also with that $84,000 resistance area that I've just pointed out on the higher time frame. So as you can see that this little order block over here which is also the 12 order order block that I've highlighted has confluence with a minimum target for your C-wave also the one extension on the lock marmy scale that has not been claimed. So definitely an area where I will be paying attention for potential short. Next scenario is basically a simple ABC to the upside. Okay, a contracting diagonal in a wave A, three-wave structure in a wave B, and a fivewave structure here in a C-wave. As you can see, that 1:1 extension has still not been claimed, which is a very common target for the C-wave. A little bit further up the 1.236, which is also a level that I will be keeping an eye on. $87,000 292 at the 1.236 and $82,000494 at the 1:1 extension, which it looks Bitcoin wants to claim in the coming hours. Remember, I will keep my community on Telegram up to date in terms of when I plan to enter, if I do enter, when I'm taking profits, where I'm placing my stop-loss because on the smaller time frames, that is where I share um my trading setups and how I approach the markets inside of my community. If you want to be part of the community for the smaller time frame analysis and how I approach the markets, remember the link is down in the description. Write the word access, send it to me on Telegram. Here's my telegram. And I'll send you the instructions on how to join the community. Something that I also want to highlight, Tubit is running an amazing deal at the moment. If you haven't tried out Tubbit yet, you can win up to $8,810 in rewards. You get upgraded to VIP status 1 for one month just by signing up and you get $30 to trade with as a features bonus. Also, the more money you deposit, you also get trial funds to trade with. And the more you trade, more money gets air dropped into your account. So, if you're not part of the community just as yet, that is where I share my personal analysis in terms of how I approach the markets, especially on the smaller time frames. Now, let's continue with the analysis. Looking at this local structure here on the 4hour time frame, first scenario that I would like to point out is this scenario over here where the structure is potentially coming to an end. You can see a 1 2 3 4 and this fifth wave could be coming to an end. And it also lines up with all the resistance that I've just highlighted slightly above um based on all the other scenarios that I've pointed out. So this could be a rejection point where this entire structure corrects itself. Okay, forms a higher low and continues or this is that big C-wave that I've just pointed out in the previous scenario or that wxy and this is the end and price falls down in an impulsive structure to potentially even go and claim the low at $60,000 again. Then the most bullish case scenario is where price just continues to the upside. Okay, I do see that there's a lot of bullish sentiment in the air at the moment. And here is a scenario that supports momentum to the upside. Wave five already completed which gives you a wave 1 three-wave corrective structure in a wave two. And now price is gearing up and gaining momentum to go and complete a third impulsive wave here to the upside. So in this scenario, price is either just going to continue to the upside to go and complete that third wave in nested one twos or at a bare minimum, okay, come back, finish this wave, come back for a retest on the trend that I've highlighted and then continue momentum in a fivewave structure to the upside because remember each wave needs to have five waves inside of it. So this could be this structure could be coming to an end. Okay? 1 2 3 4 5 and now you have your third wave. And because you have one over here, you still need a three-wave corrective structure in four and another five to the upside, which could potentially take Bitcoin even to $100,000. And that is basically your Bitcoin update in a couple of minutes.

[00:06:47]Let me know in the comment section if you guys do enjoy these shorter little updates where I really just get to the point. But remember, if you want more detailed analysis on the smaller time frames, where I'm planning to enter, I'm basically just sharing how I personally approach the markets and when I enter trades inside of the Telegram community.

[00:07:03]first link down in the description. DM me the word access. Hope to see you inside. Until the next one.