🚀 Bitcoin Consolidation = Rocket Incoming! (17 May 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we watch Bitcoin’s movement and continue to play our favorite game . . .

The waiting game! 😅

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin Technical Analysis - Two Bullish Formations

• What to Anticipate Next - Consolidation Continues to be Key

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - Warren Buffett Profits from Crypto, Trump States that the ". . . Banks Made the Biggest Mistake of Their Lives” & More!

BITCOIN TECHNICAL ANALYSIS

For an asset that is valued over $100,000 - and is known for volatility - Bitcoin has been moving very little.

Since the 8th of May, Bitcoin has bounced between ~$100,500 to $105,800 . . . and believe it or not . . .

Bitcoin’s current movement is exactly what we want right now.

For those that have been reading our newsletters regularly, this is nothing new to you but can come as a shock to many others.

The reason that we do not want Bitcoin to “moon” right now is because we want Bitcoin to rocket in the upcoming weeks.

Bitcoin right now is like a pressure cooker! The more that is moves sideways and builds the pressure, the higher the lid will fly off!

Once Bitcoin broke over $100,000 for the 100th time (sarcastic, of course) on the 8th of May, we have been praying to the higher powers of crypto for consolidation.

8 days later, the consolidation continues! Just remember the pressure cooker . . . the more it consolidates sideway, the more pressure that is being built!

Without further delay, let’s take a look at Bitcoin’s daily movement below to see market projections.

But before we do, a word from today’s sponsor!

Thank you to CBDistillery for sponsoring today’s newsletter!

With sideways movement, Bitcoin is holding strong in gains this month - with May being at +9.55% so far.

For the 2nd quarter, we are at +24.97% which we saw a slight dip under +25% from our previous newsletter on Wednesday.

Now, with the fancy percentages out of the way . . . what is Bitcoin looking like and is it going to continue being a snore-fest?

Great question! Let’s take a look at Bitcoin’s daily movement below with our resident AI, Byte!

🤖 Byte the Bot: “Bull flag formation continues - with support/resistance conversion on the 22nd of May and the 29th of May.

Calculating! Percent increase from 64.98% to 78.14% for Bitcoin to surpass $105,000 by the 22nd of May!” 🤖

There are two bullish formations that are working in Bitcoin’s favor for higher movement:

• Ascending triangle formation

• Bull flag formation

Both of these formations are working positively for Bitcoin to increase in value at two essential dates:

• May 22 - Point where support and resistance meet prior to the all-time high

• May 29 - Point where support and resistance meet at the all-time high

If the ascending support line continues to hold, Bitcoin is projected to break the all-time high of $109,114.88 by the 29th of May.

🧠 Keep this in mind! Dates can always change based on daily movement and support/resistance lines failing.

Projecting asset movement is like driving through fog. The further out you try to predict, the more distorted it will be!

However, as it stands right now, Bitcoin is maintaining healthy movement, and it is making us very excited!

Maybe all of the people that have called us crazy will now understand . . . it was in their best interest that we talked about nothing but Bitcoin for years.

And at the most random times, to be honest . . . but I digress . . .

Time to turn the radio station to everyone’s favorite part of the newsletter! Let’s check out the “What to Anticipate” section below!

WHAT TO ANTICIPATE

The next few days of Bitcoin’s movement are going to set the pace for the rest of this month and June!

As the price continues to consolidate and squeeze until the 22nd of May, the questions is, will it push higher or break support and push lower . . .

In our last newsletter, we stated:

The immediate fear that we have for Bitcoin’s movement is that we break below $100,000.

It is very possible that the ascending triangle support line breaks (if Bitcoin doesn’t break above $104,442.54 by the 22nd of May . . .

However, that wouldn’t be our worst-case scenario!

📊 What if Bitcoin breaks the support line? As long as Bitcoin’s price maintains between $100,000 and $109,114.88, we are still rockin’ and rollin’.

Where everything turns is if Bitcoin breaks below $100,000 then Bitcoin’s movement turns into an inverse cup and handle formation which is extremely bearish!

Another thing to keep in mind, if Bitcoin does not surpass $104,442.54 by the 22nd of May, then the potential break on the 29th of May will be delayed.

Movement in either direction is a domino effect based on upward and downward movement, that is why we must think of every possibility!

📅 Dates to keep in mind! As stated in our last newsletter on Wednesday:

• May 22 - Point where support and resistance meet prior to the all-time high

• May 29 - Point where support and resistance meet at the all-time high

Granted, these can easily change if Bitcoin does not hold the ascending support line, or delays by breaking upward by the 22nd of May!

📈 What movement are we wanting from Bitcoin? We need to call the guy from the movie “300” to say HOLD!

We are wanting Bitcoin’s price to continue to consolidate sideways - no overextension at this point, just healthy sideways movement!

🌍 In a perfect world! We are sticking to exactly what we said, "Bitcoin will build support above $100,000 but not break $109,114.88 for the next couple of weeks.”

And again, this is what we hold to. We believe that Bitcoin consolidating in this area until the last week of May will initiate the bull run, we have been waiting for!

Best of luck and see you again in our next newsletter on the 21st of May!

BULL MARKET BULLETIN 📌

Warren Buffett Profits from Crypto-Friendly Bank The largest financial technology bank (Nubank) in Latin America - with 88 million customers in Brazil alone - was recently sold by Billionaire investor Warren Buffett. His profit from this transaction netted him $250 million! In quarter 1 of this year, Nubank reported a net income of $557.2 million, declaring a 47% increase compared to the same quarter in 2024. Ticker symbol “NU” continues strong even after Buffett’s liquidation.

“Banks Made the Biggest Mistake of their Lives” Eric Trump, son of President Trump, spoke at CoinDesk’s Consensus conference in Toronto, Canada stating that “. . . I think the banks made the biggest mistake of their lives.” He said this after saying that the Trumps have embraced Bitcoin will the banks have done the opposite. Eric Trump, adviser to World Liberty Financial, recently launched a US dollar-backed stablecoin, USD1, that has reached a $2 billion market capitalization!