Bitcoin Weekly Read: Corrective Wave Toward $79,000
In short: In this weekly breakdown, Simon and the ParadiseTeam read Bitcoin as completing a final fifth wave in an ending diagonal before a macro reversal. Right now price sits in a corrective wave of that. . .
In short:In this weekly breakdown, Simon and the ParadiseTeam read Bitcoin as completing a final fifth wave in an ending diagonal before a macro reversal. Right now price sits in a corrective wave of that bearish pattern, and Simon expects it to lift toward $79,000 first. What does this Bitcoin video actually say?On the weekly time frame,Simonreads Bitcoin as completing a finalfifth waveshaped like an ending diagonal. Before any macro reversal arrives, price sits in thecorrective waveof this bearish pattern. Simon expects that move to carry Bitcoin toward$79,000first. For more context, the ParadiseTeam files this clip alongside its otherweekly Bitcoin breakdowns. Can $62,500 hold?The video is titled around whether$62,500can hold. In this clip Simon does not walk that single level through step by step. Instead he zooms out to theweekly structure. The read there is a corrective bounce toward $79,000 before the larger bearish reversal he sees forming. What is the ending diagonal Simon points to?Simon describes the finalfifth wavecompleting in the fashion of anending diagonal. In his weekly view this is the last structural leg before the macro reversal begins. It frames the corrective wave he sees lifting price toward $79,000. Reading a late-stage diagonal is where clearrisk and level planningmatters most. What happens after the corrective wave?Once the weekly fifth wave and its corrective bounce complete, Simon expects themacro reversalto take over. First the corrective wave lifts price toward$79,000. Then, in his read, the bearish turn becomes the dominant next move. Frequently asked questionsWhat price target does Simon give in this video?Simon points to $79,000 as the level the current corrective wave should reach. On the weekly time frame he sees Bitcoin finishing a fifth wave as an ending diagonal. And the corrective move up toward $79,000 comes before the larger macro reversal he expects next. What is an ending diagonal in Simon’s read?Simon describes the final fifth wave completing in the fashion of an ending diagonal. In his weekly view this is the last structural leg of the move before the macro reversal begins. It sets up the corrective wave he sees lifting price toward $79,000. Is Bitcoin bullish or bearish here?Simon frames the current move as the corrective wave of a bearish pattern. So the push toward $79,000 is a bounce inside a larger bearish structure, not a fresh bull run. After that corrective wave, he expects the macro reversal to take over. What does ‘macro reversal’ mean in this analysis?Simon uses macro reversal to describe the bigger turn he expects once the weekly fifth wave and its corrective bounce complete. First the corrective wave lifts price toward $79,000. Then, in his read, the macro reversal follows as the dominant next move. 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.