Bitcoin: BlackRock Buys $250M, Is $79K Back in Play?
In short:In this July 9 breakdown, Simon says BlackRock reaccumulated $250 million in Bitcoin over 24 hours. But the ParadiseTeam does not yet see enough spot absorption to confirm a macro bottom. He maps a. . .
In short:In this July 9 breakdown, Simon says BlackRock reaccumulated $250 million in Bitcoin over 24 hours. But the ParadiseTeam does not yet see enough spot absorption to confirm a macro bottom. He maps a possible bounce toward $79,000 inside an ending diagonal, with strong support near $60,000. Did BlackRock buying Bitcoin confirm a bottom?No. Simon confirmsBlackRockreaccumulated$250 millionof Bitcoin in 24 hours after two weeks of selling. TheParadiseTeamdoes not see enough power there to absorb the current selling pressure. For a real macro bottom, Simon wants net unrealized profit and loss to drop below zero. He also wantssmart moneyabsorbing those losses through spot buying, the way the 2022 bottom formed. He tracksspot versus derivative positioningbecause smart money moves billions in spot, not leverage. So far the absorption upticks exist but are not yet significant. What price levels is Simon watching next?Simon sees a high probability move toward$79,000as a secondary wave inside an ending diagonal. Below current price, he flags$60,000as strong support built on Fibonacci, VPVR volume and prior structure. The618 and 786Fibonacci retracement levels and a large VPVR volume node cluster around$60,000. Simon expects that zone to be well defended, though a brief wick below is possible. He notes going below$59,000will be hard for the bears. If enough confirmations appear there, he calls it a possible long opportunity worth checking againstclear risk and sizing rules. What is Simon’s bigger reaccumulation plan?Simon plans to reaccumulate aggressively around$44,000, which he calls the exchange of the hands zone for 2026 into 2027. His stated next target after that bottom is$169,000, an average move he estimates near 300%. He says he distributed withParadise Family VIPsaround$109,000and$121,000. The wider path is a C wave from $121,000 unfolding as a five wave structure toward the 55 to 44,000 zone. Simon stresses this is a plan, not a promise. He works a checklist and only buys with enough confluence. Follow hisBitcoin analysis breakdownsfor updates. What does the daily chart tell Simon right now?The daily still shows bullish signs: abullish divergenceon the MACD histogram, a bullish cross and declining bearish volume. But price has not defended the moving average trend line sitting at$62,000. On lower time frames Simon reads the retest of the$64,000level as a flip back into resistance on declining volume. That points to continuation toward$61,000 and $60,000first. He rates a reclaim of $64,000 into support and a move higher as the lowest probability path. The market can change, and Simon updates the read in his next video on Saturday. Frequently asked questionsHow much Bitcoin did BlackRock buy?Simon says BlackRock reaccumulated $250 million of Bitcoin in the past 24 hours, after two weeks of non-stop selling. He views it as buying back some of what they sold. But not substantial enough on its own to signal that a macro bottom is already in. Does Simon think Bitcoin can reach $79,000?Yes, Simon sees a high probability move toward $79,000 as a secondary wave inside an ending diagonal. He expects it before the next larger wave down. First he wants price to hold support near $60,000 and give enough confirmations of the current bearish wave completing. Where does Simon expect the Bitcoin bottom?Simon believes the macro bottom sits in the 55 to 44,000 zone, which he calls the exchange of the hands zone for 2026 into 2027. He plans to reaccumulate aggressively near $44,000, with a stated next target of $169,000 after that reversal forms. Which support levels matter most in this video?Simon points to $60,000 as strong support, backed by the 618 and 786 Fibonacci levels, a large VPVR volume node and prior price structure. He says going below $59,000 will be hard for the bears, though a brief wick lower remains possible. When is Simon’s next Bitcoin update?Simon says he will publish the next Bitcoin breakdown on Saturday. He reminds viewers this read is based on current probabilities and the market can change anytime. So he keeps updating the price action and his checklist across these videos. MyCryptoParadise has run a professional crypto signals and trading-education service since 2016. Simon records these sessions three times a week, and every episode lands on theBitcoin video analysis hub. Educational content, not financial advice. Crypto trading carries substantial risk; you can lose your capital. Past performance does not guarantee future results.