🚀 The Beginning or End of Bitcoin's Rocket? (24 May 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we poke Bitcoin with a stick after the recent all-time high price break and ask . . . “is that it?” 😅

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin Technical Analysis - Is This the Beginning or End of Bitcoin’s Rocket?

• What to Anticipate Next - Perhaps There is More to Come . . .

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - Tesla Confirms Billion Dollar Holding in Bitcoin, Memecoin Trader Shocks Cryptocurrency with $1.1 Billion Leveraged Bet & More!

BITCOIN TECHNICAL ANALYSIS

I believe this is the part where we all look at each other with a confused face as Bitcoin breaks the all-time high . . . and then pulls back immediately.

The question on everyone’s mind - is this the beginning of Bitcoin’s rocket to the moon or the end?

Even though we may have a sour taste in our mouth from the recent movement, Bitcoin has performed extremely well in May!

So far, Bitcoin is +31.64% in the 2nd quarter - last newsletter we were at +28.35%.

May’s performance alone is at +15.4% - last newsletter Bitcoin was at +12.51%.

Even though we have a week until the end of May, with potential of another strong push from Bitcoin, we have to re-direct our attention to June projections.

We may not want to hear this part, but June’s average performance since 2013 has been -0.35%.

Will June put a damper on Bitcoin’s movement? Do we only have the rest of May to hope for Bitcoin’s rocket? Will my investment in Beanie Babies ever pay off?

We will cover a couple of these questions throughout the upcoming weeks, but before we get into today’s “meat and potatoes”, a word from today’s sponsor!

Thank you to Betterhelp for sponsoring today’s newsletter!

As we covered above, our target for today is covering Bitcoin’s daily movement and the big question . . .

Is there still potential for Bitcoin to move higher this month?

First, let’s take a second to celebrate that Bitcoin has broken the previous all-time high of $109,114.88, creating the new all-time high of $111,970.17!

Alright . . . celebration over, back to the lab! I don’t know about you, but this break was not enough to cover the Lamborghini downpayment.

Let’s see what Byte has for us and further investigate our next steps with Bitcoin. Byte, take it away!

🤖 Byte the Bot: “Previous calculation - 64.86% probability that Bitcoin breaks all-time high by 29 May - SUCCESSFUL!

Calculating: 71.28% probability that Bitcoin maintains above $110,000 by the 29th of May - for all investors’ sake.”

Thank you for that, Byte! Yes, Byte was spot on with the projection that Bitcoin would break the all-time high before the end of the month!

So, with the dates that we have kept in mind for a few weeks:

• 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

We know that May 22nd was successful, but now all attention is being directed to the 29th of May.

Take a look at the chart above . . . we see that the all-time high was broken, but it immediately dipped back down below.

What is more unfortunate - the current candlestick has hit the previous all-time high of ~$109,114.88 as a resistance . . . again!

This could cause panic, but we do have a positive to take out of this. The ascending triangle is being maintained which buys us more time!

The lines drawn on the chart above have been the same for weeks, and we haven’t changed them due to the all-time high break because . . .

Bitcoin’s recent all time high break has not shown price confirmation!

At this point, we are still watching to see how Bitcoin reacts - with emphasis that strong movement is yet to come!

What are we projecting next? Let’s direct our attention to everyone’s favorite part of the newsletter (aside from Byte), “What to Anticipate”.

WHAT TO ANTICIPATE

As shown below . . . it seems that our “in a perfect world” scenario from our last newsletter played out perfectly!

Now that time for celebration is over, we need to focus on what occurs next . . . our portfolios depend on it!

🤔 Which formation are we following? Even though Bitcoin broke the all-time high, we are still in an ascending triangle formation.

The reason we are still following this pattern is because Bitcoin did not have a price confirmation and still has a strong bullish presence!

📈 What movement are we wanting from Bitcoin? Bitcoin needs to take a couple of days to consolidate sideways!

An immediate push to a new all-time high would ruin everything! Granted, we still need to hold the ascending triangle formation to around the 29th of May!

If we break below ~$106,500 - there needs to be a sideways consolidation that does not fall below $104,442.54.

📊 What if Bitcoin breaks $104,442.54? In our last newsletter, we stated that “it would put a damper on Bitcoin breaking the all-time high this month”.

As Bitcoin has broken the all-time high, it could cause an inverted cup and handle formation.

This formation would be highly probable due to:

• Bitcoin’s recent break did not create support

  • Thus, traders wanting to take advantage and create “short” positions

With these “short” positions, traders want to benefit from a downward movement. With Bitcoin’s weak all-time high break, they have a lot to benefit from . . .

🌍 In a perfect world, what do we see? Ah, our favorite question! In a perfect world, Bitcoin would go to $1 million tomorrow and I could expand by Beanie Babies collection.

In a more realistic world, Bitcoin will hold and continue to follow the upwards support line.

Closer to the 29th of May, we have another all-time high break that either:

• Rockets Bitcoin to $120,000 immediately, or

• Rockets Bitcoin to ~$115,000 and then creates support ~$110,000

It is essential that we create support at the all-time high level!

As we called the probability that Bitcoin break the all-time high by the 29th of May at 85% in the last newsletter . . . Byte gets all the credit, of course . . .

We project a 72% that Bitcoin break the most recent all-time high by the 29th of May!

The only thing that could stop us . . . the market flips to a majority bearish. Good luck to us all and see you in the next newsletter on the 28th of May!

BULL MARKET BULLETIN 📌

Tesla Confirms Confidence in Bitcoin with $1.25 Billion Holding Bitcoin enthusiasts are always wanting to know which companies are demonstrating confidence in Bitcoin. According to recent reports, Telsa still owns 11,509 Bitcoin valued at around $1.25 billion! Elon Musk, who has strong ties with the President of the United States, opening expresses cryptocurrency which easily excites cryptocurrency investors for what lies next!

World Shocked by $1.1 Billion Bitcoin Bet Imagine betting $1.1 billion that Bitcoin will go up in price - and there is more to it - this trader did a 40x leverage against their capital! How much exactly did the investor make? Try $36 million! What is the risk you may ask? At one point, James Wynn’s position was at a $16.3 million loss which almost liquidated his entire $28.4 million position!