If you ever stood at the edge of a muddy Mississippi bank, trying to figure if you’d make it to the other side before slipping in face-first, you’ll know exactly how Bitcoin’s feeling right now. Our old pal, Checkmate—a name that sounds fit for a fellow who’d hustle you at chess and buy you a whiskey after—reckons Bitcoin’s one wobble away from sliding downhill and spoiling the bull parade.
This keen observer hollered to his sizeable crowd—114,800 strong on that rowdy town square called X—that Bitcoin’s got itself tangled in a mighty thicket of sellers, if you believe his “heatmap.” (I don’t know about you, but heatmaps remind me more of hot biscuits than high finance. But let’s humor the man.)
“Bitcoin’s bustin’ to crawl through a supply jungle thicker than Aunt Polly’s blackberry patch between $93,000 and $100,000.”
Above $100,000? Nothing but lemonade skies and easy fishin’. 🍋🎣
The message? Bulls best eat up those coins with the urgency of a preacher at a potluck, or else Bitcoin’ll show what polite folks call a “bearish lower high” (which sounds suspiciously like an elegant way to say, “Uh oh, spaghetti-o!”).
“I’ll tell you right here and now, if Bitcoin doesn’t hurdle this price zone soon, we’ll be smack-dab at a crossroads. Just one fat candle—red or green—is all it takes to make folks holler ‘the party’s over!’ or ‘to the moon!’”
And wouldn’t you know it, judging from Checkmate’s chicken-scratchings (he calls ‘em charts), seems a pile of folks bought high and are sitting underwater, just waiting for the lifeboats or bankruptcy.
Current situation’s as uncertain as a steamboat in fog—dawdling much longer and folks’ll swear this rally’s done tuckered itself out.
“We don’t want to chop around, not unless you enjoy being spun like a top at a county fair. Let’s pick a direction and get on with it!”
Sellers might think they’ve got the upper hand over $95,000, but don’t bet your last nickel just yet. Checkmate swears on his suspenders that folks are still shovelin’ cash into those fancy Bitcoin ETFs like there’s no tomorrow.
“Them ETF fellers just plowed in up to an all-time high of $40.62 billion. That’s a heap o’ pennies, friend.” 🪙💰
For anyone brave (or foolish) enough to look, Bitcoin’s sittin’ factually at $94,816. Watch your step—the next move could be a doozy, and there’s sure to be river mud somewhere for the unwary.
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2025-05-06 23:36