In short: In this breakdown Simon stays bullish on the daily Bitcoin structure but bearish on the weekly. He is watching whether aggressive buying near resistance gets absorbed or accepted. A confident break above 64,800 within two days keeps bulls alive, while a reclaim of 62,500 opens a long setup at 61,000 to 59,000.
Is Simon bullish or bearish on Bitcoin right now?
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Simon holds two views at once. On the weekly timeframe he is bearish, with the market structure still pointing toward the 44,000 mark as a final fifth wave. On the daily timeframe he is bullish.
On the daily chart the A and B waves are complete. Simon expects the C wave to drive price toward 79,000. That level carries heavy confluence, so he treats it as a magnet and a strong resistance wall.
From that wall he expects a rejection back below the previous low of 58,000. You can follow his running read in the Bitcoin analysis breakdowns.
What Bitcoin levels is Simon watching?
The key line is 62,500, the low of the E-wave. A break below opens the path toward his buying area at 61,000 to 59,000. Until that breaks, Simon cannot confirm the fifth wave is finished.
On the 4 hour chart he still sees a possible ending diagonal toward 69,000. If price reaches 69,000, he would be interested in a short. His target from there sits at 61,000 to 59,000.
On the 1 hour chart, support sits near 63,300 and 62,900. Resistance caps price at 64,800 and 64,400. He wants a confident break and retest before trusting continuation.
Will the aggressive buying be absorbed or accepted?
This is the video’s core question. On the 1 hour chart price is pushing into resistance. The buying looks aggressive, with cumulative volume delta rising from around 63,800.
Open interest has printed a much higher high as futures positions stack up. Simon notes the sell walls are already absorbing some of that pressure. This positioning shows up on the crypto funding board.
If bulls cannot reclaim resistance quickly, that buying gets absorbed. Price would then likely push lower toward the 62,500 support. Simon wants a confident break within two days, or he expects a reversal.
How does Simon plan to trade this setup?
Simon is patient here. He wants confirmation of the secondary wave before opening a leveraged long at 61,000 to 59,000. That setup only triggers once market makers show they are buying.
The stop loss would be tight, placed below the low. He may set it under the 1.272 Fibonacci level, with exit targets near 79,000. That gives him a strong risk reward.
Simon frames trading like poker, where you size your bet to the odds. He puts survival first and builds the plan around losing streaks. His focus on risk and position sizing keeps the account alive.
Frequently asked questions
Is Simon bullish or bearish on Bitcoin?
Both, depending on the timeframe. On the weekly chart Simon is bearish, with the structure still pointing toward the 44,000 mark. On the daily chart he is bullish, reading an expanded flat that should send the C wave toward 79,000 before a rejection lower.
What is the key Bitcoin level in this video?
The 62,500 level, the low of the E-wave, is the pivot Simon watches. A clean break below it raises the odds that price moves toward his buying area at 61,000 to 59,000. Until 62,500 breaks, he cannot confirm the fifth wave is complete.
Where would Simon look to go long?
Simon is waiting for the secondary wave before a leveraged long at 61,000 to 59,000. He needs confirmation that market makers are buying at that zone. His stop would sit tight below the low, possibly under the 1.272 Fibonacci level, with targets near 79,000.
What does absorbed versus accepted mean here?
Accepted buying means price holds the push and breaks resistance, so the trend continues higher. Absorbed buying means sell walls soak up the aggressive orders near resistance. Simon warns that if bulls do not reclaim resistance within two days, the pressure gets absorbed and a reversal grows likely.
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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