As someone who loves and holds BTC, I'm so thrilled I can barely sleep. All I want to do is open up TradingView and just stare at the artistic masterpiece unfolding on the BTC price chart. I bet a lot of BTC holders are feeling the exact same way!
Don't get overtly excited. Most of us knew this time would come. Price is even yet to do what most of us believe it will do. My speculation for it's circle ATH is $150k – $200k. It's just a matter of weeks before that is wrapped up this 2025. I believe 2026 will be for altcoins, not Bitcoin.
However, what I'm noticing is that people aren't really experiencing FOMO yet. A lot of KOLs are still talking about risks and reminding everyone to be cautious. Maybe they're waiting to see BTC price retest 112K USD to confirm support before the uptrend continues.
I had a similar discussion with a friend yesterday and I told him that those whose shorts got liquidated when price breezed passed $120k was because they thought price could revert at that level immediately without waiting for confirmation. Expectedly, price later reverted to around $118k yesterday after testing $123k. But before then they were already liquidated. Professional traders know how to take trades from Support and Resistance levels. I guess that's what most are waiting for now. A retest of those levels is very important.
The remaining 20% will be sold if the BTC price drops below the trendline or the EMA34W in the SonicR indicator. I'm not a technical analysis wizard, so I just stick to the most basic criteria to guide my decisions.
I haven't used that Sonic R indicator before. In fact, I hadn't heard of it but now. It looks like a lagging indicator and may not be all that leading one to price. If I were to read your chart, I would rely on that trendline more.