Bitcoin: Waiting For A Change In Structure
Bitcoin is showing solid momentum, and it feels like we’re nearing a significant shift.
The recent action, particularly after retesting those lows from August, is giving us a clearer sign that the structure is changing. We're back near the top of the range that Bitcoin has been stuck in since March, and while we haven't seen the price above the July high just yet, the overall pattern suggests that a breakout could be around the corner.
What’s crucial now is to not overthink short-term fluctuations. Yes, pullbacks will happen, but they look more like pauses rather than real reversals. We’re seeing Bitcoin build momentum for what feels like the early stages of a bigger move. The key thing to watch is whether Bitcoin can finally push through that $70,000 resistance. If it can, the picture changes dramatically.
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We’re not far from the midpoint of Bitcoin’s four-year cycle, and the monthly chart shows a clear upward trend. Even if Bitcoin doesn’t break out immediately, it feels like it’s just a matter of time. It’s possible we’ll see more consolidation, but the general direction is up.
Any pullbacks into November likely won’t be as deep as previous corrections. Instead, they will likely be short-lived dips that set up the next leg higher. Patience is essential here. Trying to time every small move can cause you to miss out on the bigger picture, which is that Bitcoin is building towards an eventual breakout above its all-time highs.
The overall feeling is that we are on the brink of something big. Whether it happens in the next week, month, or even early next year, Bitcoin is primed to make a big move upward, and it’s just about staying in the game long enough to ride that wave when it comes.
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Written by Timothy Assi, a popular investor on eToro.
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