Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) remain above a key weekly support zones, reinforcing confidence that the broader long-term uptrend remains intact.
Bitcoin’s Resilience Signals Long-Term Confidence
Crypto trader Jelle noted that despite weakness on lower timeframes and the daily chart, Bitcoin is still holding critical weekly support, preserving its long-term bullish structure.
Short-term price action may look shaky, but the higher-timeframe trend has not broken.
Macro conditions are also turning supportive. Quantitative tightening has ended and rates are moving lower, an environment that has historically favoured risk assets, particularly Bitcoin.
Jelle added that extended periods of weakness have been a recurring theme this cycle, often flushing out weak hands before the next leg higher. The current pullback fits that pattern rather than signalling a structural breakdown.
Are We Witnessing A Bullish Divergence?
Jelle shared that he already took substantial profits earlier in the bull run and now holds a smaller BTC “moonbag,” roughly 15% of his original position.
Given the current setup, he sees no reason to sell further and is content waiting for the next move.
He also maintains a sizable Ethereum position, noting ETH’s relative strength during BTC’s consolidation. The expectation is for ETH to outperform once Bitcoin regains momentum, with profits taken gradually.
However, a sustained move below $2,500 would trigger a reassessment.
Image: Shutterstock
Recent Comments