📉📈 Bitcoin’s Make or Break Moment – Eyes on $116,500 🧠⚡
Hey Traders! Quick BTC update following the full market breakdown I just posted.
👉 Watch the full update here: S&P 500 on the Edge – Crypto Awaits the Signal 🔥
🎯 Let’s zoom in on Bitcoin:
– Price is consolidating right at the MAJOR/BIGGEST level
– The previous ascending channel has now become a key area of interest
– Reclaim $116,500 → opens the path to a bullish continuation
– Dip below $115,000 → exposes a move toward $110,000
We’re in a ⚖️ 50/50 zone — but now with added structure.
🟦 I’ve marked $116,171 as a reaction level before the breakout test at $116,525
🟥 The downside becomes very real under $115,000
I like being bullish — but I’m not going to FOMO in.
The chart is demanding my attention right now.
💬 Where I Stand in the Market:
✅ I prefer Bitcoin over stocks — especially as the S&P 500 sits at all-time highs under pressure (post)
✅ Ethereum remains stronger than BTC at this stage — better structure, stronger trend
❌ I do not prefer altcoins over BTC right now — many remain under resistance and lack leadership
S&P 500 still holds the macro key. Until we get clarity there, all crypto positions require careful planning. But inside this space, I’m going ETH > BTC > Alts for now.
🔑 Final Note:
This setup is forming in real time. If BTC breaks above $116,500, I’m ready to turn bullish again.
Below that? I stay cautious, composed, and prepared.
One Love,
The FXPROFESSOR 💙
Disclosure: I am happy to be part of the Trade Nation’s Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Awesome broker, where the trader really comes first! 🌟🤝📈
