🚨 Bitcoin Just Closed Its Most Bullish Weekly Candle of 2026 And Nobody Believes It

Hinzugefügt: 2026-05-12

[00:00:00]Bitcoin just gave us one of the strongest weekly closes that we've seen in quite some time. And yet somehow the majority of the market still remains cautious, skeptical, and outright bearish at times. That's usually not what we see near a major top. It's actually what we see during the beginning stages of a much larger move.

[00:00:16]Uh, and in today's video, we're going to be breaking down why this recent weekly candle specifically could be signaling the next leg higher here for Bitcoin and why sentiment just still hasn't caught up to the price action and why that disconnect may actually be the fuel that drives this market even further. We're going to dive into the key levels that matter, what the charts are telling us on the higher time frames, and why so many traders may still be positioned the wrong way heading into the next few weeks. Because if there's one thing that the markets love to do, it's to move the opposite way that the crowd is expecting.

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[00:02:29]All right, folks. So, here I have the weekly time frame here on Bitcoin. And again, we were looking for uh just this last week, right? Where at the end of the week, I wanted to see Bitcoin closing above that November 25. So, the the year of 2025, that's not November 25th. So, that's last year's November low, right? So, if we scroll over here, we can see that that's where we originally came down to on this initial drop from the all-time high at 126. Big little, you know, liquidation event, what, however you want to view it at this point. Natural pullback realistically. Um, but this is a big zone that we were looking for uh to see us come back above and close back above on a higher time frame. Now, if you zoom in, of course, we're, you know, teetering around this region for really the last few days here. This is the 4 hour time frame now. And you can just see how we've kind of, you know, gotten above this region, lost it, kind of come back above it again, holding it now as support. Likely that we'll kind of flirt around here for a little bit. And now that we have the higher time frame, again, we have a weekly candle close above that level. uh now we are going to be looking for the next sizable candle to close which is going to be the daily candle now and then next week's as well.

[00:03:34]So in the ter in the interim however I will say that between the last week's candle close so yesterday and then the next week we can still see something along the lines of a small pullback and I say small that's pretty sizable honestly about 8 to 10% uh down towards our monthly target here right so this is for the month of May uh this is an average of price high time frame that's just like it's got a high probability of being met there's no guarantee it doesn't have to but if I had a specific specific level on the chart that I was interested in and looking for a pullback. If I am looking for a short-term short, you know, a shortterm short this week or just looking for where Bitcoin could and would pull back to before even knowing what any of the news is going to be this week, right?

[00:04:17]Like, of course, there's going to be some tweet that pops off and if if a pullback like that occurred, everybody would blame it on something. But I'm here to tell you that ahead of time that we could easily see Bitcoin drop down to this $734,000 area. This would effectively take out this would effectively take out all these more local lows here, right?

[00:04:35]Including this one wick that we got on bit by bits chart. I don't think it was on all of them. Um, but it would just be a more, you know, short-term little liquidity grab essentially, but taking out the lows. But either way, like that aside, uh, again, this is a very probable thing to keep up with here is that we could see that move down there.

[00:04:55]Again, high time frame average. This is a monthly pivot. So this is the average of last month likely to get met this month. All right, seven out of 10 hit.

[00:05:03]So three don't. So something to keep in mind. Again, probabilities based here.

[00:05:07]But that's really still what I'm looking for as far as any type of uh you know opportunity right there, right? So however you're looking at that, whether you're looking for a short, looking for that next long, I'm already obviously long from these uh levels down here with spot buys around 61,000. Uh and then my last leverage play at $66,000, right?

[00:05:27]So, I'm in at 66K. Looking for that $93,000 target overall. Uh, very short term though here in the next coming days here. We could very well see a little pull back down to that 738 $74,000 region. But aside from that, again, let's take a peek at that uh overall big weekly candle. This is a very very strong looking chart here now, right?

[00:05:48]And we are just doing nothing but reclaiming and regaining key levels week after week. We knew that $75,000 was a really big level that we wanted to see reclaimed. We saw the weekly candle kind of wick into it a couple weeks back.

[00:06:03]Next candle [snorts] closes above this one back tested 75,000. We are now pushing up to our next major area which is that November low again pointing over here. And we are seeing weekly closes above that as well. Right. So, even though we're kind of back testing it now and we could easily get a move down here, close this week, this week back up here, maybe make it look like a little wick at the end of it, still nothing is wrong there, right? So, if you're looking for any type of an opportunity on Bitcoin, it's at $74,000 if we get it, which is the key word. But aside from that, bias still from me is targeting higher. We're moving up towards our overall target of that $93,000 from our shark uh that we printed as we made that 60k low.

[00:06:45]And one of the big, you know, pieces that go into the market that we always like to look at here is fear and greed.

[00:06:51]And for the most part, this entire rally up from 60,000 to 80,000, a $20,000 move, a 30% plus move, uh, the market has been overly cautious, as you should.

[00:07:02]There's nothing wrong with that. I'm just pointing out that not only do we have a bullish setup, but the sentiment still has room here. like we don't want to be looking for it's less likely when we're seeing you know extreme greed you know pour into the market at times that we see more upside you know coming our way. Uh at least you know that's that's just what history has kind of shown us there. But if you [snorts] look around right now again even though we're trickling into the more neutral territory it's still pointed more so towards fear. Meaning that again it's just people are bearish here right? So people are trying to come in and short this market. they are bearish because of the four-year cycle be, you know, believing fully that it's just a guarantee that Bitcoin has to, it must be in this one-year bare market as it traditionally is. And maybe it does play out that way. But regardless, there's just endless opportunities in this market again where we could see sizable moves to the upside even if the overall trend is to the downside. Uh, and you're going to and many get really scared out of those opportunities because their overall thought is that it's just going to head lower over time. So, and if that's the case and if you're just looking for, you know, big only, you know, bottom of market discounts because everybody's going to get that right, I'm sure, uh, then that's fine. But for me, I'm looking for the opportunities as they come each and every single day.

[00:08:16]Bull market, bare market, there's always opportunities in this market. And again, $60,000 to about 93 uh is the play that I'm, you know, heavily invested in right now, which is also going to trickle into the altcoins. We've already seen several altcoins uh you know exploding with 100% moves like such as and others here. Uh so I'll actually be making another video probably later this week just kind of dedicated to the altcoins. So do me a favor and drop me the altcoins in the comments section that you'd like me to cover in that video. But aside from that, yeah, Bitcoin nice bullish close for the week essentially back testing that November low right now. All right.

[00:08:53]Uh I want to point out that it can easily still get that pull back to 74.

[00:08:56]Nothing's broken. I mean, just looking at this overall uh move here, right? You got your higher highs, your higher lows, higher high. Even if we came down to that, you're still looking at higher low. That would be a really nice projection spot to get that next push up to about 93. Um, but if we don't get it, of course, like I said, we're regaining that level right now, that that 80,500 give or take. Uh, and we want to see us uh holding that on the weekly close again this week and getting that next push up that I do believe is still fully inbound. And I'm targeting that $93,000 mark around June July. So that's kind of been my um continued target area of time again based off of the shark harmonic that's given us the target level. Uh we can actually look and utilize areas of fib times to kind of give us an area where we could see pivots basically in the market of time. So that a lot of that aligns with June. Uh and I've covered that very heavily inside the market intel discord community. So, if you want to join that and get a little bit more uh in-depth detail about that, you can. Quick look at the ETF flows as well. Uh we had a little bit of selling over the last two days here on the 8th and the 7th here, right? So, you see 268 uh and 145. So, 200 that's these are uh these are outflow days. So, this is just like when you're looking at this overall chart, these are uh when you're not having the parenthesis, that's an inflow day or buying. If you have the parenthesis, that's an outflow or selling, right? So, uh, sizable one on the 7th, won't won't lie. You know, about 268, we had 145 the day after that. So, collectively, uh, over 400, you know, between those two days. So, that's not a, you know, something to completely ignore. I bring that up because it's, again, when we see these type of inflows and outflows, it doesn't necessarily immediately uh, correlate to the price action. uh we see that you know times where we get these big inflows and price seems a bit stale for a few days but a few days later it seems to kind of like put you know add into the market moving uh I don't necessarily lean too too much into them personally but I do just like to pay attention for them and and really they do correlate to some degree here so uh with that like sizable little sell there over the last couple of days kind of does give me the inkling that we do see a move where we get that pull back to like $74,000 right draw in a lot of people to again be coming in shorting this market really heavily. Everybody would probably get extremely bearish at that point. I'm sure it would be met with some kind of negative news catalyst only to get everybody extremely bearish right into the key level of support that you could look for that next long opportunity, right? And everybody miss it again.

[00:11:23]Price action comes back, stops everybody out in that sense. So, um yeah, so I am keeping it relatively simple here, right? So, November 25 low, what we want to hold on a high time frame basis.

[00:11:35]Shortterm we could come down to 74, 73.

[00:11:37]nothing's broken at that point. Uh otherwise, still fully anticipate a uh a move up towards our $93,000 uh target here in the coming weeks. Now, oddly enough, Bitcoin is at a major area where we could see that 10% pullback, like I said, to the 7374. And we just so happen to have the S&P 500 finally reaching that key target zone that if you've been, you know, following my videos even before I was here on Data Dash. Uh this is a target zone that I've been looking for for better part of two years. Uh so we're coming into it. Uh there's been obviously a lot of bumps in the road on on how we got here, right? a lot of news and uh wars breaking out and carry trade things and [snorts] um overall the technical analysis is still playing out which is just you know incredible to see. It's also just incredible to see where the markets are in total. Um while I know that many people aren't fully, you know, experiencing or having a good experience with the markets right now, meaning that a lot of people uh that aren't able to, you know, get invested right now. the uh inflation is really high and and it it's it's not just so like hunky dory for the majority of people. It's actually probably a max pain scenario right now that I feel like as I look across like the the average people um that aren't true just you know like dieh hard investors it's it's really hard to enter this market right now uh even for myself right like I always am saying like I can't buy on you know big rallies like this can't buy on green days I'm always going to be looking for and prepared for big days like this right your big red days and even with the market reaching these all-time highs it doesn't feel that that great for a lot of people, right? So, um, but for the people that are invested, you know, congratulations.

[00:13:21]These are, you know, really exciting times for those folks. And, uh, yeah, we're reaching a really, really big key region right now that if we're going to see, uh, the next little pullback from, I do think it comes from here. All right, so 74 to7,700. We're at $7,400 right now at the time of recording. So, we could see something like a 5 or 10% pullback from this region here. And again, they' just be coming back for uh potentially another higher low before we get another move to the upside here, folks. But could be a zone where we actually cool off for a little bit. All right. Uh we did have this little cool off which took what the almost couple months here. This was December, January, February. Yeah. So like two or three months of this like kind of like just flatline here. Obviously we got that cool down. Nice little run up into this region. This is probably where we're going to hit our head at again here for a couple of weeks. So, it could be a little shift where, you know, we get this little cool down in the S&P, potentially Bitcoin gets a rally out of it after, you know, the the potential pullback in Bitcoin as well. Uh, either way, keeping them somewhat separate at the same time, but like, you know, the convergence here, I think, is just more so in line with that idea that if we do get a little pullback on on Bitcoin, I could see it correlating with a little bit of a cool down here on the S&P. And two zones I'm looking at for a pullback, too. Very simple, just the previous highs here coming in around that $7,000 mark, give or take. I'd probably give it like a few hundred window in there, like 6700 to 7,000. Uh, you know, see something like along those lines here.

[00:14:50]Uh, otherwise, the gold pocket uh of this current move sits about 60. Oh, well, there it is. 6,700. So, in that couple hundred move I just mentioned uh takes us from these highs into the gold pocket. And then there is this gap here.

[00:15:03]Let's see. Uh I imagine many would target that. Um if we were to get a pullback. So for for me, I' I'd want to have if I'm looking for this to continue up, I'd want to probably frontr run that gap a little bit and look for this gold pocket as the the major uh you know key level below. Uh but yeah, we'll we'll keep this in mind next coming weeks. I just want to f focus more so on the fact that we're hitting a major major ma like multi-year um target essentially. Uh even though we're in price discovery right now, it's actually really incredible to be able to, you know, identify these areas uh to where we can still see resistance in the chart. Uh so um, you know, we we'll see how these kind of like play out over the next few weeks here, but just know that 74 to 7700 is the next major zone where if S&P is going to get a little uh cool down, it's probably going to come here.

[00:15:53]Uh so just kind of keep that in mind right as we walk into the next coming weeks. All right, everybody. That's going to wrap it up for today's video.

[00:15:58]As always, the market continues to reward patience, discipline, and paying attention to the bigger picture, not the emotional noise that dominates social media dayto-day, right? So, right now, Bitcoin showing some very strong signals on the higher time frame. And if sentiment continues lagging behind price action, I feel that this move may actually still have much more room to run. And if you would like deeper market breakdowns, daily updates, my key levels, my trade setups, and access to our private community, make sure to check out the market intel Discord community over at data-pro.com. You can actually try out Market Intel completely for free for 7 days. So, if you've been waiting, so if you've been wanting more structured analysis and daily market coverage, now is the perfect time to join us. Thank you all so much for watching. If you enjoyed this video today, be sure to leave us a like, subscribe to the channel if you haven't done so already. Again, drop me a comment down below. Which altcoins would you like me to cover in a future video this week? Uh, are you still bullish here or do you think that the market is basically setting a big trap and we're about to crash to the downside? Right?

[00:16:54]So, I'd like to know what you're all thinking out there in the audience. Uh, take care everybody. I'll see you on the next video. And until then everybody, cheers.