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Bitcoin Reset Complete? Ostium Foresees Explosive Move To $133,000
Ostium Labs' Market Outlook #55 argues that Bitcoin's price structure remains bullish after last week's volatility, provided spot price stays above $107,000. The report sees the recent price drop as a "great reset," removing excess leverage without breaking the long-term bullish trend. They anticipate a move back to the highs, with a target price of $133,000 by month-end, supported by prior analysis. Key support is expected around $112,000, providing a potential higher low. The invalidation level for this bullish outlook is a weekly close below $107,000, potentially leading to a drop to $99,000. The analysis emphasizes the liquidation event as a turning point, solidifying either a bear market start or further price increases. Ostium favors the latter, citing positive positioning data like low open interest. Beyond Bitcoin, Ostium is bullish on Ethereum, expecting a breakout to new all-time highs. Furthermore, they predict a supportive macro environment, including a potential decline in the DXY and continued strength in US equities. Ultimately the report suggests the recent reset provides runway for higher bitcoin prices. The report's core thesis across assets and timeframes: the reset has completed, the trend will continue upwards and $107,000 is the key invalidation level.
