A rally is setting up for Bitcoin! Here is why

Added: 2026-05-12

[00:00:00]Hello guys, welcome back to yet another video. As I promised you guys, we're going to do a markets look ahead for next week since it's currently Sunday and we are about to get the weekly candle close here. And we also were looking at the macro 0.31 that was sitting at around 80.5K 8.6K depending on on what exchange or what chart you're using. Currently, it's 4 hours left until the weekly candle close and market seems very strong here. So, I'm kind of guessing we're most likely going to close above the 0.31, which is just going to show that Bitcoin is super super strong here. But this is not the only sign that we're seeing that Bitcoin is currently strong here. We're also seeing it in the open interest. And we just see the the same thing we've been talking about here for the past two months here. We see it even again today very very clearly here. And this is not a sign that you want to ignore here where we can see Bitcoin has been trending higher today while open interest is basically have been trending lower. And we can see here very clearly just the past to basically the previous highs here. Bitcoin is quite close to the previous highs here again while we can see the open interest is keep lagging behind. So we see this over and over again happening how the open interest comes down. It's very sensitive to Bitcoin's price action. So of course when we see the spikes that's when we be start to be cautious. But this is a very healthy price movement overall for Bitcoin. We still see that there's not too much leverage in the market. And the leverage that is coming in is getting wiped relatively quickly here. And this usually sets up uh for a very strong uptrend. And that's why I believe that Bitcoin is most likely going to continue higher here because this trend since the lows here has not changed because we saw this entire move up here. Every time open just was retracing very nicely here. Once again, open just has retraced nicely and it's taking a long time for the leverage to reenter the market. Very very bullish here overall. So, as of now, I'm not really calling for any massive pullback. I mean, if we would have gotten the weekly candle close above the 0.31, I would have been more open-minded to some kind of pullback here and before then we resume higher.

[00:02:02]But as of for now, it seems like this uh 0.31 basically has been broken here. We can zoom in here on the 4hour time frame. I mean, we saw here the original touch. We got this nice pullback here very very accurately, but nothing significant here. After that, we broke above it. we came slightly below it and more or less we spend the majority of the time this week above the 0.31. So I'm not really going to look too much into this. I mean as I said at some point Bitcoin is is going to break the 0.31 as because previously we rejected here from the 0.31 here last time. So we had one rejection we had here a second rejection on the normal chart on sorry on the chart. Then we go on the normal chart and right now we we got a super small rejection and right now it seems like we're breaking it. Very typical. we cannot always reject from the 0.31 here.

[00:02:50]So that's that's a very bullish thing that we're seeing currently here on Bitcoin. Moving on to our pitchfork that we have the we discussed earlier this week. We spoke about Bitcoin going potentially to 90K and the more I'm looking at the market at the moment, the more I believe that this is actually the most likely scenario at the moment here.

[00:03:09]So, as I said, we currently broke resistance and just looking at the raw price action here. There's a basically an empty volume gap here right now on Bitcoin here. So, we're currently in an empty volume gap here all the way up towards 86K where we see we're going to face the first resistance. But as for now, looking left here, there's not much resistance here currently. So, it's not going to be difficult for Bitcoin to head towards the uh supply zone here sitting at 86.3K.

[00:03:35]And then we have the median line up here. So I believe I mean if we're going to head into the the supply zone, we might basically see some kind of rejection, but most likely the algorithms they're going to try to push price up to the median line. So the midline is really going to be the line in the sand here for me to confirm like is is the bare market completely over.

[00:03:53]Uh and that's going to basically show if we can can manage to break 90K. As I've been saying, I think this time is slightly different. I think too many people are focused on when the bare market is going to bottom and they think the market is going to move just like it has did previous bare market. We get a clear bull market, a clear bare market.

[00:04:10]But this time could be a bit different here uh for Bitcoin. It could basically chop more sideways here. We could basically have a more timing based low bare market where we come up to 90K have a deeper pullback back inside the range form bare market low somewhere here even though the the lowest low was here before we enter a bull market. There's a lot of scenarios currently on the table, but we're going to take it one day at a time. I think there's no point trying to speculate too much into the future and more just following the price action as we've been doing day by day. And so far the market is showing us strength. So that's not something you want to ignore and just try to short the market here.

[00:04:44]Uh just because people are telling you, oh, we're in a bare market. We're not going to bottom until October and stuff like that. I think we should respect what the price is showing us and so far it's showing us strength. So I believe right now we are due for higher and we're also start starting to see that in the altcoin market altcoins are starting to pump here a bit. Not saying that altcoins have bottomed but we can see there's basically interest again coming back into the crypto markets and usually when we start seeing alts popping off a bit there's probably more money to be that is going to pour into altcoins and some retail FOMO is also going to come in later on. So I believe as of for now the direction remains to the upside. H moving on to our eight hour time frame chart here. This is what we discussed yesterday during the Discord live stream. So let me just remove some levels here to to make the chart clear here. But this is kind of the the most important levels that I have mapped out currently here for Bitcoin. So on the smaller time frame, we had this very beautiful 1 2 3 4 5. So this in the yellow here. Let's map it out. The fifth wave here. And I believe that most likely the fifth wave has finished. And I still would like to see a pullback here. I mean, we're going to see that tomorrow. Uh we could also pump higher.

[00:05:54]It's it's difficult to predict this fifth wave here on the smaller time frame. But this was a very perfect textbook aliot wave 1 2 3 4 5 where we had pulling from the first wave to the third wave here with a very perfect 1 2 3 4 right into the 0.31 and then a fifth move higher just as we discussed here in the telegram. I'll post a chart here.

[00:06:14]You can see it. So make sure guys by the way I plug the telegram link down below.

[00:06:18]So it's completely free to join. You get access to all my charts. Make sure you are inside the telegram. So that was basically our first prediction here. We we spoke about this move higher. And then if we zoom out here, I believe probably we are due for even larger move that's going to take us towards the 90k.

[00:06:34]Basically this target here. Uh so I believe some kind of fourth wave is still going to form here on the larger time frame or the 8 hour time frame.

[00:06:42]That's going to look something like this here. I mean, every alot wave looks a bit different, but something like this, I mean, this third wave could maybe extend a bit higher before form the fourth wave. We have to see how that's going to play out, but I would like to see this fourth wave forming here. That would give us a nice opportunity to probably go long here. And what I'm looking at here, we have three major lows here. As you can see, I mapped out the arrows here where I'm drawing the 0.31. So, the first 0.31 I'm going to draw from the the first wave of the smaller time frame a lot wave count. So basically from the lows we had here in March towards the highs and that gives you a very nice target here at 77.3K and then of course we have the second wave low as well. So you can basically what you want to do is stack your fibs here and also from the first wave here.

[00:07:26]And this gives you a very juicy target here all the way from 77K all the way down to 75K where I would love to DCA and basically start opening longs here.

[00:07:35]If we get get some pullbacks here, I'm going to long with size here and try to catch the the fifth wave towards to towards the upside towards 90k. Once again, this doesn't mean I'm calling say telling you guys to short. I mean, the price could continue higher and we just have to readjust the fibs here. The fibs are just showing you where the next support is. Just to make that very very clear here. They're not showing you or price is going to retrace to the fibs because we don't know yet if this is a confirmed fifth wave top here. The fifth wave could continue higher here and then we have to readjust the fibs here to higher levels and they're going to they're going to switch. I'm actually working on an indicator to do do that for you. So you don't have to manually uh drag the fibs. I'm actually very excited about this. So it's going to show you display on the chart always where the next support is uh for you.

[00:08:21]But we have some two important supply zones here. I suggest you draw them. We see the first supply zone we have tested here once. Let's see if we can get an ABC here and then before higher. That's kind of my game plan for the week ahead.

[00:08:32]But overall, I'm feeling pretty bullish here overall uh on Bitcoin. We can also look at the liquidation heat map. This is a two week liquidation heat map. We can see we have decent amount of liquidity at 78K all the way down to 77K, which would uh correlate with this demand zone here and also correlate with the first uh Fibonacci here at 77K. So, I would really like to see Bitcoin take out this liquidity here, bounce higher.

[00:08:55]That would be the absolutely perfect setup. But usually when we get such a perfect setups, they don't always tend to fill. H So we have to see how that's going to develop here. Uh but we can see there's a lot of liquidity below us here. Not too much above us. We can also zoom out on the one month time frame.

[00:09:12]Let's see what the monthly time frame is showing us. Yeah, the monthly as well.

[00:09:15]We can see there's not too much liquidity above us. There's decent amount of liquidity below us here. So it would be nice to see a pullback. Once again, pullbacks are not guaranteed, especially if this is uh uh usually these strong moves, they don't they don't tend to give too many buying opportunities because there are a lot of people that are trying to buy in. So, it's it could be also the max pain scenario that price just wants to to move higher here. So, just keep that in mind. Moving on to Ethereum here.

[00:09:43]Ethereum once again is trying to is still inside the fourth wave here. As I've been telling you guys, I'm getting really really bullish here on Ethereum.

[00:09:51]I'm get almost ready to call for two 2,800. I think it's just uh not too many days left here before this fork is complete. I mean, Ethereum has been ranging here for quite some time here. I was looking at 2,217 to sweep these lows here. I would love to enter at these levels here, but as I said, the four wave could very well be and we're getting ready for a move higher. So, add Ethereum to your watch list. Uh you definitely don't want to miss this move.

[00:10:17]I mean, it's just not too many days or weeks. ahead once we start breaking the macro 0.31 here there as I said there's no resistance here so it's going to be a straight line up to 2800 you can zoom out here on the weekly time frame you can see it's very clearly how we have been rejecting from the macro 0.31 pulled from the highs to the lows and when you see this pattern here I mean the the the selling algorithms are going to run out of selling power here and sooner or later Ethereum is going to print a massive green candle and I mean we can speculate that's probably also going to be quite bullish for altcoins as well. We can also see some altcoins starting to pop already today. I mean, we are seeing uh Solana already like starting to pop here and I think it's getting ready to expand from its range here. So, very interesting times ahead of us here at the moment.

[00:11:04]So, yeah, kind of a bullish video here.

[00:11:06]I mean, I don't want to to tell people to start buying into at the highs here, but I'm giving you just my game plan here. Any pullbacks, in my opinion, are to be bought. Moving on to the total crypto market cap. Let's go to the total crypto market cap chart here. The total crypto market cap also has room for a bit higher. We spoke about u the 2.7 4 trillion which is the macro 0.31 where the total hasn't hit yet. So also that's something I'm paying attention to. So it could be that Bitcoin was a bit higher here. Probably going to correlate with the total hitting the 0.31 before we get some kind of pullback and then maybe we can resume towards the upside. So really keep in mind to the total crypto market cap here because the 0.31 is different on the total compared to Bitcoin because we haven't yet hit it but we're super close to it and then we had once again our macro pitchfork here hitting the lows that we predicted back in February.

[00:12:01]I mean now in hindsight it's quite easy to say that I mean these median lines they are super super uh important and we can see once again how heavily they are used by algorithms. I'll I'll post a chart here on the screen which we shared in the telegram back in February. very very beautiful so far. I mean we still have some resistance above us here on the total but otherwise other apart from that I'm seeing quite clear skies towards uh until we hit 90k here. I mean market is showing a lot of strength once again looking at the open interest. So that's all it for me today. I'll still update you on X if we get a bullish or bearish candle close but it seems like to me we're going to get a bullish weekly candle close here on uh on Bitcoin here. So that's all it for today. I'm very excited for next week. I'm expecting more volatility coming in. And if you guys want my live updates, make sure you're inside the Discord as well as the Telegram. Thanks so much. Have a great Sunday evening.

[00:12:54]See you again, guys tomorrow. Bye-bye.

[00:13:03]>> You come for the king, then you best not miss. Only fools try to counter a cobra's hiss. Going long from the bottom, short from the top with medium precision. He just don't stop. Going long from downtown from the 031. Talking smash TP out and the cobra's done. Snake and bake. Snake and bake. King cobra.

[00:13:23]Snake and bake. Snake and bake. King cobra.

[00:13:30]King cobra. Cobra. Cobra.