Trader outlines opportunities opened by Bitcoin’s rise to $15,000

The trader Илья Мещеряков.

The past few days have been extremely positive for Bitcoin — it broke through the $14,000 resistance and, at the time of writing the review, it had reached the $15,000 mark. Let’s take a look at the chart and consider the outlook for the leading cryptocurrency.

A breakout of the ascending price channel to the upside is a very positive sign from a technical perspective. We can regard this as an exit from the accumulation zone (shown on the chart below) and set approximate targets for the upside move.

If we base it on the previous accumulation (from $11,400), similar in structure, one can define targets for movement from $1,800 to $2,000. This corresponds to the $15,800-$16,000 level for Bitcoin.

Accumulation zone in the form of an ascending price channel (marked in blue) and its breakout. 4-hour chart BTC/USDT from TradingView.

The psychological level of $15 000 is also a strong resistance, which could trigger local profit-taking, so on shorter timeframes one can identify zones where buying would look safer.

Bitcoin support zones (green) on a small time frame. 15-minute chart BTC/USDT from TradingView.

From a risk-reward perspective, long positions in Bitcoin are highly debatable — a high level of overbought conditions could surface at any moment. Moreover, throughout the uptrend of the past several months we have not seen a single strong squeeze of long positions.

In light of this, I reiterate the key takeaway of recent reviews — it is best to set risk limits, especially since the leading cryptocurrency has been fairly forgiving, not unleashing strong red candles.

Short positions in such a market are a lottery, with some probability of capturing large and rapid profits, but one would have to weather more than one stop-loss before that. Moreover, there are no obvious reversal signals beyond the macro backdrop — Bitcoin has already surprised me by rising despite the decline of correlated assets.

In the end, Bitcoin reaches the psychological $15,000 level, near which meaningful profit-taking is possible, which suggests entering at lower prices, with a priority on a fixed stop-loss without averaging down. Short positions from current levels are possible, but one must be prepared for a rapid reversal if $15,000 is breached.

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