The Daily Hodl 2025-06-23 11:45:03

Trader Issues Warning to Bitcoin Top-Callers, Says BTC Still in Stage One Uptrend – Here’s What He Means

A closely followed crypto analyst believes that it’s very unlikely that Bitcoin ( BTC ) has already printed a bull market top at $110,000. In a new video update, crypto strategist Cheds tells his 49,800 YouTube subscribers that Bitcoin’s long-term uptrend remains strong as the price of BTC trades above multiple moving averages on the weekly chart. According to the analyst, Bitcoin is just taking a breather after climbing from its 2025 low of around $74,000. “I think it’s hard to call a top here… How can you call a top? Look at this weekly chart. It’s by definition a stage one uptrend in a sense that it’s price above a rising EMA (exponential moving average) 8, and with this incredible price distance to a rising MA (moving average) 200, and a pretty good slope to the rising 200 as well. So there’s plenty of strength. There’s no way to call the top yet. We certainly know we’re consolidating.” Source: Cheds/YouTube In 2021, Bitcoin cratered after failing to take out the $69,000 level twice. The loss in bullish momentum triggered a bear market that sent BTC down to $16,000. For now, Cheds outlines levels to watch as Bitcoin consolidates. “$88,500 for me is the last level that needs to hold should $96,000 get tested and fail. And it’s a zone, not a number… Any kind of top now is not based on available information.” At time of writing, Bitcoin is trading for $101,957. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix 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. Generated Image: Midjourney The post Trader Issues Warning to Bitcoin Top-Callers, Says BTC Still in Stage One Uptrend – Here’s What He Means appeared first on The Daily Hodl .