Bitcoin is breaking higher, and while some may point to Russia’s growing interest in crypto as a catalyst, the underlying setup had already been signaling the potential for higher prices. Our technical and on-chain indicators had been improving, and in August we indicated that the cycle low was likely in. Since then, we have progressively increased our beta exposure, particularly in altcoins, where our model portfolio is now up 52% year-to-date (here).
Our crypto equity portfolio, comprising four trades for the next 6–12 months, is up 24% since August (here), with neither figure including any gains from today’s move.
Below, we explain the technical setup, identify Bitcoin's next key levels, and examine what's driving the latest move. Understanding these factors can help traders assess whether they have the appropriate exposure and positioning for the next phase of the market.
What Is Bitcoin’s Next Key Technical Upside Level?
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