In short: The ParadiseTeam sees Bitcoin ETF inflows returning for a second straight week. And Simon reads the daily as still bullish toward a $79,000 target. He expects a first-wave push into $65,000 to $70,000 resistance, then a secondary-wave pullback near $61,000 as the ideal long setup.
Are Bitcoin ETF inflows really back?
Yes. US spot Bitcoin ETFs just logged a second straight week of net inflows, breaking nearly two months of redemptions. The previous week saw about $75 million put back in. Simon treats this as a real shift in demand, but not yet a green light.
He is still holding bullets in USDT and waiting for stronger confirmation before loading aggressively. You can track the same positioning shifts on the live funding board.
Why is $79,000 Simon’s main target?
Because it stacks confluences. Simon points to a daily expanded flat pattern with the C wave pointing toward $79,000 at the highest probability. Fibonacci retracement levels, the first-wave Elliott structure and a CME futures gap all sit there.
That CME gap was created on 18th May and is still the closest one open, so a push to $79,000 would close it. Simon says these confluences make the level act like a magnet. More context lives in the Bitcoin analysis hub.
What resistances block the path to $79,000?
Several. With Bitcoin trading around $66,000, Simon flags the immediate Fibonacci cluster, then $65,000 and $67,000 as the next tests. Above that sits a daily moving average trend line near $70,000, confluencing with the 1.618 level and 70,700.
He describes resistance like a wall: the rule of three means the third touch usually weakens it before a proper reclaim on rising volume. Simon expects a fifth wave to carry the first-wave push toward $69,000.
Where does Simon want to long Bitcoin?
On the pullback, not the resistance. Simon wants the secondary wave to form, then a long entry around $61,000. A stop can sit below $54,000, or tighter below $56,000, with $79,000 as the last target.
He calls that a six versus twenty-eight risk reward, and stresses that reward-to-risk matters more than win rate. His approach to sizing and stops mirrors this capital preservation guide.
Do funding and sentiment support the setup?
Mostly yes. Simon reads the odds of a long squeeze on Bitcoin at just 4%, with funding turning negative on BitGet, OKX, Bing X and Kraken. That points to short-squeeze fuel, not exhausted bulls.
CVD and open interest are making higher highs alongside price, showing commitment. The 4hour fear and greed reading nears 80, a mild warning, while the daily sits neutral. Simon sees no bearish divergence yet.
Frequently asked questions
How much did Bitcoin ETFs take in last week?
Simon says US spot Bitcoin ETFs logged a second straight week of net inflows, breaking nearly two months of redemptions. The previous week saw about $75 million put back in. He frames this as early evidence that demand may be returning, though he wants more confirmation before acting aggressively.
Why does Simon target $79,000?
$79,000 sits at a cluster of confluences: Fibonacci retracement levels, the first-wave Elliott structure. And a CME futures gap from 18th May that is still the closest one open. He says these make $79,000 act like a magnet, the highest-probability destination for the current C wave.
Where would Simon enter a long?
He wants to long the secondary wave, not the resistance. He points to an entry around $61,000 once he sees the pullback, with a stop placed below $54,000 or tighter below $56,000. And $79,000 as the last target. He describes this as a six versus twenty-eight risk reward.
What is the $44,000 level about?
Simon says the fifth wave, an ending diagonal from around $121,000, has a high-probability path toward $44,000, a level the ParadiseTeam has watched for over a year. He sees $55,000 down to $44,000 as a reaccumulation zone, similar to the 2022 zone near $24,000 to $15,000.
Is a long squeeze likely right now?
Simon reads the odds of a long squeeze on Bitcoin at just 4%, with funding turning negative on exchanges like BitGet, OKX, Bing X and Kraken. That points toward short-squeeze fuel instead. He notes 4hour fear and greed near 80, but says trader positioning does not scare him yet.
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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