Bitcoin Coiling: Simon Eyes $59K Before $79K Move
In short:In this breakdown, Simon says Bitcoin is compressing after weeks of consolidation and a large move is close. The higher probability points down first: longs look vulnerable with long squeeze. . .
In short:In this breakdown, Simon says Bitcoin is compressing after weeks of consolidation and a large move is close. The higher probability points down first: longs look vulnerable with long squeeze probability back near 15 percent. He watches the 60,000 to 59,000 zone as the buying opportunity before any push toward 79,000. What did Simon say Bitcoin will do next?Simon says Bitcoin still looksbullish on the daily, but it needs power to push toward$79,000. Since June 2026 the market has consolidated after the drop from$81,000to around$59,000, and volume keeps declining. That compression is building tension. Simon expects a big move soon, similar to May. He frames the structure as anexpanded flat, with the C-wave still expected to subdivide into five smaller moves. Why are the longs vulnerable right now?Thelong squeeze probabilityis back near15 percentafter dropping close to zero on the earlier push down. And funding rates stay positive on Bitcoin and major altcoins. Retail is pressing buy with leverage again, which Simon reads on thefunding rates boardas vulnerable longs. On the 1 hour chart he seesbearish divergence: price made a lower high while the MACD histogram made a higher high. Aggressive buying is being absorbed near resistance, raising the squeeze odds. What levels does Simon actually watch?Simon flagsimmediate support at $63,600 to $63,200and immediate resistance at the0. 618 Fibonaccilevel sitting at the current price. The next resistance on the 1 hour is$64,900. He calls that resistance strong, with little probability of breaking above. If it does reclaim, the next important level is$67,000. Treat these as his stated levels, and size around them with a clearposition sizing plan. Where is the buying opportunity Simon flags?Simon points to the$60,000 to $59,000 zoneas a great buying opportunity, with enough confluences to place a tight stop-loss. On confirmation of the secondary wave, he sees aswing pluslong setup targeting$79,000. He notes the earlier chance near$61,000has passed, so this next zone is the setup he is watching. More market breakdowns sit in thecrypto analysis hub. Frequently asked questionsDoes Simon expect Bitcoin to go up or down next?Simon says the daily is still bullish toward $79,000, but the near term probability favors a push down first. Longs look vulnerable, so he expects one more long squeeze toward the $60,000 to $59,000 zone before the larger upside move develops. And confirmations are still needed. What is the long squeeze probability Simon mentioned?On Thursday it sat around 16 percent, then dropped close to zero on the push down, and it is now back near 15 percent. Funding rates stay positive on Bitcoin and major altcoins, which Simon reads as longs being vulnerable again in the current market. What did Simon say about Ripple?With the Paradise VIPs, Simon says the Ripple position took target one and the stop-loss was secured to break even. He notes altcoins have been more vulnerable to a long squeeze, and there are still more targets left on that position to watch. What levels should viewers watch from this video?Simon flags immediate support at $63,600 to $63,200 and immediate resistance at the 0. 618 Fibonacci near the current price, then $64,900 on the 1 hour. Above that, $67,000 is the next important resistance. His buying zone sits at $60,000 to $59,000, where he sees strong confluences. MyCryptoParadise has run a professional crypto signals and trading-education service since 2016, led by founder Simon Mach and the ParadiseTeam. 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.