Altcoin Daily
A 7-year crypto veteran macro analyst known as Psychedelic is making the case that Bitcoin's macro low is already in, framing the current correction as a textbook retest of former resistance now flipping to support. The key level to watch: a weekly close above $74,400, which would confirm BTC remains inside its bull market support band and above the high-timeframe bullish structure.
The thesis holds that this pullback represents a retest of the break-of-structure that came from reclaiming the 2025 yearly low. Psychedelic expects short-term volatility next week — including potential dips below $74,400 designed to tempt bears into shorting — before an uptrend resumes heading into June.
The call is conditional but directionally clear: if Bitcoin holds the weekly close above $74,400, the setup points to a significant leg higher. The macro low, in this read, is already behind us.
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