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Nov '25 • General discussion
Bitcoin (BTC) Update
As readers of the Market Roundup Newsletter, all of you know we have been tracking the strong possibility of a meaningful top having been put in on BTC. The first chart is a refresher of that thesis: Bearish wedge breakdown + bearish momentum divergence on a large scale.
The 2nd chart zooms in on the prior wedge support and alternate trendline. It is worth noting that BTC's recent rally retested the underside of the wedge support perfectly before rolling back to the downside. That retest would appear to confirm that that support was valid, in which case we would not expect the alternate trendline to hold. That trendline currently sits at around 98K.
A break of that line would add additional confirmation of our bearish thesis. In that scenario, target #1 on the way down would be the 74K level.
Let everyone know in the comment section below how you might trade this!
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Bitcoin (BTC) Update
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