In a recent video, Carl Runefelt provides critical insights on Bitcoin’s immediate future. Collected by the CoinSpeech team, here are the most important takeaways from his analysis. Readers can find Carl Runefelt’s new video embedded below.
Bearish Scenario: The Potential Plummet
According to Carl, there’s a significant point of support for Bitcoin at a specific blue line. He states, “If we break this blue line, I’m going to be selling and shorting Bitcoin.” This line sits around $60,275, a level which must hold to prevent a major decline.
He explains the stakes: “I think a ballpark number of this short if we do see that play out would be something like 48.5.” A breakdown here could see Bitcoin dropping to approximately $48,500, aligning with previous resistance levels. Carl highlights the importance of keeping an eye on this crucial support line.
Bullish Scenario: The Inverse Head and Shoulders
On a more optimistic note, Carl identifies a bullish scenario involving an inverse head-and-shoulders pattern. He notes, “We have a shoulder there, head, and then if we go back up like this, it’d be a second shoulder.” Should this pattern complete, Bitcoin needs to rise to $71,900 and also break this resistance for a potential surge.
Trading Insights and Positioning
Carl has already positioned himself for these possible outcomes, stating, “I’ve opened up a $400,000 long position on this blue line.” However, he remains cautious, ready to switch to a short position if the support doesn’t hold.
His trading advice is clear: “If you haven’t signed up to Bybit, do it right now. Deposit some funds and make your trades here because I do think over the next few weeks and days, something big is brewing.” Carl emphasizes the need for vigilance in this period of low volume and potential high volatility.
Past Performance and Future Outlook
Referring to his past trades, Carl claims some of the best entry points: “I opened this up when Bitcoin was at $16,400… I haven’t seen anyone with a lower Bitcoin entry than myself.” He reports substantial profits in both Bitcoin and Ethereum positions.
In closing, Carl underscores the potential for a huge gain: “The target is $887,000… absolutely incredible.”
Overall, the video showcases Carl Runefelt’s strategic trading decisions based on current Bitcoin patterns, providing invaluable advice for traders navigating these volatile times.