{"id":43689,"date":"2026-05-14T07:01:06","date_gmt":"2026-05-14T07:01:06","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=43689"},"modified":"2026-05-14T07:01:06","modified_gmt":"2026-05-14T07:01:06","slug":"veteran-crypto-trader-warns-bitcoin-now-facing-big-resistance-says-btc-must-breach-key-level-to-confirm-bottom","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=43689","title":{"rendered":"Veteran Crypto Trader Warns Bitcoin Now Facing Big Resistance, Says BTC Must Breach Key Level To Confirm Bottom"},"content":{"rendered":"

\"\"<\/p>\n

A crypto strategist known for making timely Bitcoin calls is warning that BTC<\/a> may have a sudden correction after returning to the $70,000 range.<\/p>\n

The pseudonymous trader Cheds tells<\/a> his 50,500 YouTube subscribers that Bitcoin is facing strong resistance and may enter a downtrend, unless BTC can flip $85,000 into support.<\/p>\n

The analyst believes Bitcoin\u2019s move beyond the mid-$80,000 level would confirm a W, or double-bottom pattern. A double-bottom pattern is typically considered a bullish reversal pattern.<\/p>\n

\u201cWe\u2019ve been following this bounce, doing pretty well. We see a generalized W breaking the peak. Normally, your measured move would get you up [higher]. The issue is the obstacle\u2026 <\/em><\/p>\n

For me to think the bottom\u2019s in we need to flip $85,000. I think a weekly close would be logical.\u201d<\/em><\/p>\n

\"\"
Source: Cheds\/YouTube<\/figcaption><\/figure>\n

Bitcoin is trading for $79,402 at time of writing, down 1.5% on the day.<\/p>\n

Next up, the analyst says he is turning bearish on Ethereum (ETH<\/a>) rival Solana (SOL<\/a>).<\/p>\n

\u201cSOL [had a] big bounce right into range peak. It\u2019s been an underperforming chart. I don\u2019t love it, but you can certainly play this level for a trade on a break of $95, $96. I\u2019d probably short here, though, because it\u2019s a downtrend bouncing into resistance.\u201d<\/em><\/p>\n

\"\"
Source: Cheds\/YouTube<\/figcaption><\/figure>\n

Solana is trading for $91.17 at time of writing, down 3.7% in the past 24 hours.<\/p>\n

He also warns that ETH needs to hold $2,150 as support to avoid a massive collapse.<\/p>\n

\u201cWe know [ETH is] weak to Bitcoin. We see that in the pair. I don\u2019t need the Ethereum\/BTC pair to just see the weakness here and continued inability to break $2,400. It needs to hold $2,150 on what looks to be a pending retest or it is headed for Goblin Town (a severe correction). So I would just watch these two levels closely.\u201d<\/em><\/p>\n

\"\"
Source: Cheds\/YouTube<\/figcaption><\/figure>\n

ETH is trading for $2,259 at time of writing, down 1% on the day.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

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The post Veteran Crypto Trader Warns Bitcoin Now Facing Big Resistance, Says BTC Must Breach Key Level To Confirm Bottom<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

A crypto strategist known for making timely Bitcoin calls is warning that BTC may have a sudden correction after returning to the $70,000 range. The pseudonymous trader Cheds tells his 50,500 YouTube subscribers that Bitcoin is facing strong resistance and may enter a downtrend, unless BTC can flip $85,000 into support. The analyst believes Bitcoin\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":43690,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[45],"tags":[],"class_list":{"0":"post-43689","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"yoast_head":"\nVeteran Crypto Trader Warns Bitcoin Now Facing Big Resistance, Says BTC Must Breach Key Level To Confirm Bottom - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=43689\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Veteran Crypto Trader Warns Bitcoin Now Facing Big Resistance, Says BTC Must Breach Key Level To Confirm Bottom - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"A crypto strategist known for making timely Bitcoin calls is warning that BTC may have a sudden correction after returning to the $70,000 range. 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