See also
28.08.2026 07:19 AMBitcoin has increased by $18,000, but over the past week it has been unable to sustain its growth. Of course, this could be a pause. Bitcoin often pauses within strong trends and then resumes a powerful move without correction. Thus, Bitcoin's inability to continue moving upward at this time does not mean the end of the "upward impulse." However, it should be noted that neither Ethereum nor Bitcoin has yet to break the downward trends that began last year (CHOCH lines remain unbroken on the daily timeframe). Therefore, no matter how sharp and strong the current rise is, one should count the chickens before they hatch. In any case, no trading signals have been generated in recent days, and all movement is just another pump. Currently, a bearish trend is maintained.
Meanwhile, former Binance CEO Changpeng Zhao stated that in the next bullish cycle, Bitcoin will surpass gold in capitalization. Additionally, Zhao mentioned that governments will increasingly spend on purchasing Bitcoin for their reserves. Currently, the market capitalization of gold exceeds that of Bitcoin by about 10 times. However, the former CEO of Binance believes that this gap will narrow, and ultimately, Bitcoin will take the leading position. At the same time, Zhao notes that central banks and governments of many countries have built entire systems of reserving around the dollar and gold, so the transition to Bitcoin reserves will take a considerable amount of time. Nevertheless, over time, up to 50% of government reserves will consist of Bitcoin, Ethereum, and some other cryptocurrencies.
Zhao had also mentioned earlier that buying one Bitcoin will soon become challenging for many investors. First, because the available amount of Bitcoin for purchase will decrease over time. It is already estimated that about 10-20% is considered permanently lost, and many holders do not intend to sell. Secondly, the price of Bitcoin will constantly rise due to limited issuance and declining supply. Thus, "digital gold" will only become more scarce with each passing year.
On the daily timeframe, Bitcoin continues to form a downward trend. The trend structure is identified as declining, with the CHOCH line located at $82,800, where the last LH (Lower High) was formed. Only above this level can we consider the downward trend to be complete. The last and only bearish FVG has been pierced through and turned into a bullish IFVG. Thus, this area becomes a POI for long positions in the future. Bitcoin has not yet broken the downward trend, but over the past two weeks, the chances of completing the bearish trend have sharply increased. Nevertheless, there is a high probability of forming a flat. This means that the price may remove liquidity from the last LH and begin a new decline.
On the 4-hour timeframe, it is evident how Bitcoin has literally soared into space. Analyzing the 4-hour timeframe now makes little sense, as movements are too strong. Therefore, signals in the coming days should be sought on the daily or even weekly timeframe.
Bitcoin continues to form a downward trend despite the strong rise this week. We continue to expect a decline with a target of $57,500 (the 61.8% Fibonacci level from a three-year upward trend), although this level has essentially already been worked out. However, we do not believe the downward trend is complete yet. The last bearish FVG pattern has been canceled, and there are essentially no POI areas for short positions on higher charts. However, on the weekly timeframe, the current rise can be classified as a correction. We understand that the current rise of the first cryptocurrency bears very little resemblance to a correction, but this does not provide a strong enough argument for opening longs. The current movement resembles pumping without forming patterns and signals. From the high of $82,850, liquidity may be removed, potentially triggering a decline in the first cryptocurrency and confirming a transition to sideways movement.
