Trading Volume May Signal Tops & Bottoms For Bitcoin

In a new post on X, Santiment has talked about a pattern associated with the trading volume of Bitcoin. The “trading volume” here refers to a metric that keeps track of the total amount of the cryptocurrency that’s becoming involved in trading activities on the various centralized exchanges.

When the value of this metric is high, it means the traders are making a large number of moves on the market. Such a trend suggests interest in the asset is high. On the other hand, the indicator having a low value implies investors may not be paying much attention to the cryptocurrency as they are participating in a low amount of activity.

Now, here is a chart that shows the trend in the trading volume for Bitcoin and other top coins in the sector over the last few months:

In the above graph, Santiment has highlighted two large spikes in the trading volume of Bitcoin. The first of these, involving a movement of $84.08 billion in the asset, occurred at the start of April. Interestingly, this spike coincided with BTC’s tariff-driven dip. The other spike took place just earlier this month and saw the indicator hit a high of $90.90 billion. This time, the elevated trading volume came alongside BTC’s new all-time high (ATH) above the $124,000 level.

“Note that the two largest volume spikes from Bitcoin signaled the optimal time to buy (as prices were falling) and sell (as prices peaked to a new ATH),” explains the analytics firm.

What could be the explanation behind the pattern? Generally, the higher the trading activity, the more likely BTC is to observe some kind of volatility. This is because the moves being made by investors act as fuel for price moves.

Where the emerging volatility may lead the asset is hard to say based on the trading volume data alone, as it doesn’t separate between buying and selling moves. Spikes that come near price lows, however, can be signs of buying. This is what happened in April. Similarly, a particularly sharp uptick in activity after rallies, like the one seen earlier in the month, can be a sign of profit-taking.

At present, Bitcoin trading volume remains elevated, but its current value of $66 billion is clearly still a step below the levels seen during the aforementioned turnarounds.

BTC Price

Bitcoin has been facing sustained bearish momentum recently as its price has gradually been sliding down, with its latest value coming at $113,000.

A widely followed analyst and trader who accurately predicted the bottom for Bitcoin (BTC) in 2018 says the crypto king is primed to go higher after a recent correction.

The trader and analyst pseudonymously known as Bluntz tells his 326,100 followers on the social media platform X that Bitcoin is likely done correcting after falling below the $116,000 price level.

“Send it.”

Looking at the trader’s chart, he seems to suggest that Bitcoin’s ABC correction is done and BTC is now targeting new all-time highs at $127,000.

Bluntz follows the Elliott Wave theory, which states that a bullish asset tends to witness a new uptrend after completing an ABC correction.

Bitcoin is trading at $117,262 at time of writing.

Next up is the Bonk (BONK) memecoin. According to the widely followed analyst, BONK is “holding up remarkably well” amid a Bitcoin correction.

Bluntz suggests BONK has completed an ABC-wave pattern to the downside and is now poised to hit the $0.000044 price area.

“Not only does BONK look like a nice clear ABC has already been put in, but it held strong and defended the lows while BTC dumped…

I suspect a rage pump is imminent on BONK.” 

BONK is trading at $0.000035 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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An analyst with a history of making timely Bitcoin calls believes that BTC is gearing up for a huge upside burst despite struggling to clear the $110,000 level.

Pseudonymous analyst Dave the Wave tells his 153,800 followers on the social media platform X that he’s keeping a close watch on Bitcoin’s moving average convergence divergence (MACD) indicator on the weekly chart.

The MACD is a technical indicator that tracks the convergence and divergence of moving averages to gauge an asset’s momentum and trend direction while pinpointing potential reversal areas.

According to Dave the Wave, BTC’s weekly MACD suggests that Bitcoin is bullish and is primed to hit a diagonal resistance that has marked market tops since 2012.

“On the basis of the weekly BTC MACD extension, you’d expect another push up.” 

Looking at the trader’s chart, he seems to suggest that the MACD will rise to the diagonal resistance by the end of the year, just as BTC rallies to $160,000.

Zooming out, Dave the Wave says the monthly time frame supports his long-term bullish outlook on BTC.

“Longer-term monthly BTC MACD turning upward again…”

But in the short term, the analyst thinks that Bitcoin will slide to around $98,000, where it could potentially print a local bottom before sparking new rallies.

“Would it be such a terrible thing to see BTC price consolidate to just under $100,000 before moving up again? Surely, only snowflakes would think so…”

At time of writing, Bitcoin is trading for $104,348.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A trader and analyst who accurately predicted the Bitcoin (BTC) bottom in November of 2022 is warning that Ethereum (ETH) is looking bearish overall on the weekly chart.

In a new video, the trader pseudonymously known as DonAlt tells the 66,200 subscribers of the TechnicalRoundup YouTube channel that ETH needs to reclaim the $2,000 level as support to start looking bullish again.

“The ETH chart, we’ve just broken down a bunch, and it needs to reclaim a little bit to look bullish. So right now, it’s still quite aggressively bearish, but we had a little bit of a good week. Reclaim $2,000 and we can start talking about major trend shift that we haven’t had in a long time.”

DonAlt also says that ETH needs to hold two key levels as support on the daily chart to keep alive the chance for a bullish reversal.

“What cannot be lost is basically down here [at ~$1,670]. Like you don’t want to see any close below here and you don’t want to see any move below the impulse move [at ~$1,540].”

ETH is trading for $1,764 at time of writing, down 2.2% in the last 24 hours.

Looking at Bitcoin, the analyst says if BTC can hold $90,000 as support on the weekly chart, it would likely confirm a bullish trend.

“Below here [$89,000], very scary. Close above $90,000 [on the weekly], early signal that the trend has shifted back to bullish again.”

Bitcoin is trading for $93,506 at time of writing, flat on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A widely followed crypto analyst is warning that Bitcoin (BTC) is at risk of a sudden collapse.

In a new post on the instant messaging app Telegram, pseudonymous crypto strategist Crypto Capo tells his 121,953 subscribers that Bitcoin may collapse by more than 34% of its current value.

However, the analyst predicts that the flagship crypto asset will first head higher before a severe correction.

“Shorting here makes no sense at all. I’ll be looking at the $94,000-$95,000 zone for potential shorts, but for now, the smart move is staying net long.”

Looking at his chart, the trader says Bitcoin may plummet to $60,000 after tapping $98,000 as a local high.

Bitcoin is trading for $91,690 at time of writing, up 5.1% in the last 24 hours.

Next up, the analyst says he is leaning near-term bullish on Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH).

“I consider ENA a mid-term investment. That’s why I’m just holding it until August-September (subject to change/ adaptation). We can see how it has formed a massive range. Bearish trend is very oversold here, so a bounce to $0.50-$0.55 keeps making sense. After that, we could see the last capitulation event I’ve been talking about previously. If that happens, I will buy more. If not, just hold.”

ENA is trading for $0.30 at time of writing, up 6% in the last 24 hours.

Lastly, the analyst says the layer-1 asset Toncoin (TON) may rally and break through resistance at $4.58 before plummeting to around $2.10.

“Very clean setup, matching with the rest of the market.”

TON is trading for $3 at time of writing, up 2.9% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Dogecoin (DOGE) is once again breaking out of a textbook falling‑wedge formation, and the analyst who anticipated the memecoin’s last three‑fold explosion thinks the stage is set for an encore. “Breaking crucial area, expecting solid bullish wave in midterm,” World Of Charts (@WorldOfCharts1) told his X followers while sharing a 12‑hour Binance chart.

Major Dogecoin Upswing Incoming?

He referenced a post from April 13 where he predicted: “Doge: We caught this big move in Oct 2024, Dogecoin went more than 3×. Now again Doge [is] on [the] verge of massive breakout… expecting 3× from here.”
The chart shows five months of compression that began when DOGE topped at just under $0.48 in early December.

Since then, every rally has stalled beneath a descending resistance trendline, which now cuts through the mid‑$0.155 zone; parallel support currently tracks the $0.14 area after cushioning a pair of capitulation wicks in March and April. The price is now breaking out of the upper boundary for the first time in almost two weeks.

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World Of Charts’ measured‑move overlay starts at the notional breakout above $0.17 and projects a vertical advance of $0.21804, implying a primary objective just shy of $0.39—a 138% gain from the trigger and within striking distance of the psychological $0.40 handle. If the setup delivers the same magnitude as last year’s wedge, the could ultimately test $0.65, completing a fresh three‑fold rally.

The time symmetry behind the call is hard to ignore: the current wedge has compressed for almost six months, mirroring the consolidation that preceded the October–December 2024 eruption from $0.11 to $0.48. Volume has thinned with each contraction cycle, a classic pre‑breakout signature, while momentum oscillators on lower time frames are beginning to tilt positive as spot reclaims its 50‑EMA.

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Other analysts remain focused on Bitcoin’s grip over market beta. “If BTC breaks above $89K and shows conviction upwards I think Dogecoin gets back to $0.26 relatively quick,” cautions Kevin (@Kev_Capital_TA). “BTC holds the cards as always, especially with BTC dominance pushing higher and monetary policy still tight.” In his analysis, $0.26 represents the 0.618 Fibonacci retracement of the November–March slide, marking the first substantive hurdle even if DOGE clears wedge resistance.

From a pure chart‑based perspective, the battle lines are now sharply drawn. A decisive daily close above trendline and a successful retest would confirm the breakout, shift the red demand band into a springboard, and expose successive targets. Failure to punch through would keep price pinned inside the pattern, with any slip below $0.15 risking a slide toward structural support at $0.13 and, in extremis, the $0.11 pivot that launched last year’s parabolic ascent.

At press time, DOGE traded at $0.1641.

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An analyst who accurately called the 2022 crypto meltdown is warning that Bitcoin (BTC) and Solana (SOL) are likely to print new lows this year.

Starting with Bitcoin, pseudonymous trader Capo tells his 121,564 subscribers on the instant messaging platform Telegram that he sees BTC initially rallying to as high as $100,000 to set a bull trap.

A bull trap is a false signal, luring traders into thinking that an asset is bullish, but instead, the price abruptly reverses and drops.

According to Capo, the rally will set the stage for BTC to witness a massive capitulation event en route to his downside target of around $63,000.

“BTC plan.”

Capo also notes that he thinks the bull trap idea is still valid, even though BTC has fallen below its immediate support.

“BTC has broken below $84,000, which isn’t great for the short-term bullish scenario. However, this still looks like a bear trap to me. Based on indicators and the confluence with altcoins, most of which are holding higher lows above high time frame support, I remain bullish.

That said, I’d really like to see a strong reclaim of $84,000 (ideally $85,000) soon to confirm strength.” 

A bear trap deceives traders into thinking that an asset will head to lower levels, but then the price reverses to the upside.

At time of writing, Bitcoin is trading for $82,936.

Turning to Solana, Capo predicts that SOL will also spark a strong leg up before collapsing to his downside target of $100.

“SOL looking good for a bullish move towards $180-$200.”

At time of writing, SOL is worth $125.

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An analyst who accurately called Bitcoin’s correction in Q1 of 2024 believes BTC is close to printing a local bottom based on a technical momentum indicator.

Pseudonymous analyst Rekt Capital tells his 542,00 followers on the social media platform X that Bitcoin’s relative strength index (RSI) on the daily chart has plunged into oversold territory.

Traders keep a close eye on the RSI as it can often signal trend reversal points.

The crypto strategist says that since November of 2022, Bitcoin has mounted strong rallies each time the RSI dropped to oversold levels on the daily time frame.

“Bitcoin’s Daily RSI equaled 2022 Bear Market RSI levels (RSI=23.93) when the price crashed into the high $70,000s.

The only lower Daily RSI in this cycle was back in August 2023 (RSI=18.28).

Throughout this cycle, each visit into sub-25 RSI resulted in a trend reversal to the upside over time.”

According to Rekt Capital, historical data shows that Bitcoin may find a solid bottom between $78,000 and $71,700.

“Bitcoin has made yet another Lower High on the Daily.

There’s no denying that.

But throughout this entire cycle, whenever Bitcoin would reach 28 or lower on the RSI…

Bitcoin’s price would either bottom or be between -2% to -8% away from the bottom.”

To support his stance that Bitcoin is now in the process of bottoming out, the trader says BTC may be following in the footsteps of the layer-1 protocol Cronos (CRO). According to Rekt Capital, CRO may be in the midst of ending its downtrend with a double-bottom pattern.

“What’s interesting to see is that BTC is trying to build out a potential Double Bottom-like formation here.

Whereas CRO has potentially broken out from its own Double Bottom, in fact leading Bitcoin.

Other Altcoins are in varying phases of their own respective Double Bottoms.” 

A double-bottom structure is traditionally viewed as a bullish reversal pattern as it indicates that the asset has found a price floor and is gearing up for an upside burst.

Based on the trader’s chart, he seems to suggest that CRO has taken out the resistance of the pattern at around $0.08. At time of writing, CRO is trading at $0.80.

At time of writing, Bitcoin is trading for $82,207, down over 4% in the past day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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An analyst known for correctly timing the 2021 crypto crash is warning that Bitcoin (BTC) is getting close to witnessing a waterfall event.

Pseudonymous analyst Dave the Wave tells his 148,300 followers on the social media platform X that Bitcoin is currently testing whether support at around $90,000 will hold.

According to the crypto strategist, he expects Bitcoin to mimic its late 2024 price action when it plunged to the 0.382 Fibonacci level before sparking a massive move up.

“As expected BTC local lows being re-tested… I haven’t seen that larger washout yet into the lower Fibonacci level that I’m also looking for.”

Looking at the trader’s chart, he seems to predict that BTC will fall to around $80,000.

Zooming out, Dave the Wave says he’s keeping a close watch on the moving average convergence divergence (MACD) indicator on the weekly chart. The MACD is a widely used indicator to identify an asset’s current trend.

According to the trader, BTC’s MACD on the weekly timeframe will hit the zero line level to reset en route to tapping the 0.382 Fibonacci level.

“Technically superb BTC price action in this current bull market.

Something like an April low on the basis of this.”

But while Dave the Wave is bearish on the prospects of BTC in the coming months, he believes that the deep drawdown will set the stage for a Bitcoin rally to around $180,000 by the end of the year.

“Why complicate things?”

At time of writing, Bitcoin is trading $91,529.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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An analyst who accurately predicted the crypto meltdown three years ago warns that Bitcoin (BTC) is showing bearish signals, suggesting that the current consolidation may resolve to the downside.

Pseudonymous analyst Dave the Wave tells his 148,300 followers on the social media platform X that he’s keeping an eye on Bitcoin’s moving average convergence divergence (MACD) indicator on the weekly chart.

Traders use the MACD to identify an asset’s trend and spot potential entry and exit points.

According to the trader, Bitcoin’s MACD looks poised for a reset after a bearish cross, suggesting that BTC is close to witnessing a correction and plunging below $90,000.

“BTC weekly MACD re-set to the zero-line underway.

Technical consolidation and the likelihood of a push to new highs later in the year.” 

As for his downside target for Bitcoin, Dave the Wave looks at BTC’s daily chart and says that the crypto asset appears to be following in the footsteps of its 2024 price action when the flagship digital asset soared to a high of $74,000 before retracing below $50,000.

“The BTC rollercoaster.”

Looking at the trader’s chart, he seems to suggest that Bitcoin will fall to the 0.382 Fibonacci level at $80,000 before kicking off the final leg of its bull market.

The Fibonacci extension tool allows traders to spot potential entry and exit levels based on the Fibonacci ratio.

While Dave the Wave is short to mid-term bearish on Bitcoin, he remains a long-term BTC bull. Earlier this month, the trader predicted that the correction would be swiftly followed by a parabolic rally toward the $260,000 price level before 2025 expires.

At time of writing, Bitcoin is trading for $95,503.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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