In short: Simon and the ParadiseTeam say Bitcoin is testing resistance near 65 to 67,000 while whales stack more than $100 million in sell walls above. The daily bias still leans up toward 79,000, but 1-hour momentum looks weak. So Simon sees limited upside and waits to buy near 60 to 59,000.
Can Bitcoin break the $100 million sell walls above?
Whales built sell walls above the current price that together top $100 million. Bitcoin is trying to reclaim a minor edge trend line back into support at the same time.
Simon sees the upside as limited near the 65 to 67,000 resistance. He gives a rejection higher odds than a clean break, though he stresses these are probabilities, not certainties. You can follow the setup on the Bitcoin analysis hub.
What is Simon’s Bitcoin price bias right now?
On the daily, Simon reads multiple confluences for a reversal from 60 to 61,000 pushing toward 79,000 as the secondary wave.
Zoom out to the weekly and it is an expanded flat that, since 121,000, has been calling for the 44,000 golden ratio zone. Simon marks 55 to 44,000 as the likely exchange-of-hands area. Only after the market builds a long-term bottom does he look toward a new all-time high near 169,000.
Where does Simon want to buy Bitcoin?
Simon is watching the 60 to 59,000 support as a strong-probability, good risk-reward zone for a long.
He will not panic sell or short into a correction. Instead he plans to absorb the selling pressure there, but only with enough confluences and confirmations. That discipline of planning the entry, exit and invalidation before risking money is covered in his guide on position sizing and capital preservation.
What do funding and positioning show?
Open interest is rising and the cumulative volume delta shows aggressive market buying. Funding rates are turning positive as new longs pile in.
That combination lifts the long squeeze probability, which Simon reads on the crypto funding rates board. The fear and greed index sits at 60, neutral but greed-tinted, telling him retail is involved. That is why he stays ready to buy a flush rather than chase the highs.
Frequently asked questions
What target did Simon give for Bitcoin?
On the daily, Simon sees a reversal from 60 to 61,000 pushing toward 79,000 as the secondary wave. Longer term, his weekly expanded flat points down to a 44,000 golden ratio zone first, before a possible new all-time high near 169,000.
Why is Simon cautious on longs here?
The 1-hour chart made only a small higher high while momentum faded, so Simon reads whales absorbing the buying pressure and stacking sell walls above. Open interest and positive funding raise long squeeze risk, so he warns anyone long to be careful near resistance.
Where does Simon plan to buy Bitcoin?
Simon is watching the 60 to 59,000 support as a strong-probability and risk-reward zone for a long. He will not panic sell or short into a correction. Instead he plans to absorb the selling pressure there, but only with enough confluences and confirmations.
What does the MicroStrategy comment mean?
Simon notes MicroStrategy’s average buying price sits around 77,000, and that it, plus miners who entered around 2023, have never faced a rough bear market. He expects pressure to build as these institutions may capitulate, which could help form the long-term bottom.
MyCryptoParadise has run a professional crypto signals and trading-education service since 2016, led by founder Simon Mach and the ParadiseTeam. Simon records these sessions three times a week, and every episode lands on the Bitcoin video analysis hub.
Educational content, not financial advice. Crypto trading carries substantial risk; you can lose your capital. Past performance does not guarantee future results.
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