Bitcoin's trading in a range, but what a range it is!

Crypto Corner #352 | May 10-16, 2025

Bitcoin Price (in USD): $103,672.39
Weekly Change: +0.64%

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Bitcoin Price Action

Bitcoin continued its rally from last week, breaking through the weekly high at $104,352.60 before finding resistance at $105.787.37 on Sunday. The big orange crypto reversed and made its weekly low the same day at $100,703.71.

Now, it appears that Bitcoin’s trading in a range of $100K-$105K, and, considering we were under $75K just a month ago, that’s nothing to complain about at all!

The Bullish Case

Bulls remain in control of the narrative at this point. Bitcoin’s stellar 40%+ rally off its April low to its recent high is the perfect demonstration of why the Bulls believe in Bitcoin so much. Many Bulls argue Bitcoin’s new all-time high is just a matter of weeks or even days away.

The Bearish Case

Bears struggle to come up with convincing narratives as to why Bitcoin rallied so much. Many continue to argue that without a new all-time high, Bitcoin is simply trading in one heck of an oversold bounce Bear Market Rally. I think this thesis is a bit more than just a little far-fetched, but I would love to have another opportunity to buy Bitcoin in the 70Ks (heck, I’d be happy to buy it again in the 80K region…)

Key Selloff Targets

These key selloffs are derived from past pullbacks from all-time highs as well as various Crypto Winters:

• -26.31% = $80,342.16

• -30.27% = $76,024.68

• -31.24% = $74,967.12

• Current Low: $74,420.69 (-31.95% from All-Time High)

• -33.49% = $72,731.35

• -37.63% = $68,204.09

• -39.53% = $65,928.76

• -40.24% = $65,154.67

• -53.06% = $51,330.77

• -62.91% = $40,438.20

• -77.46% = $24,648.39

• -84.36% = $17,102.97

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*Trade Reset: +15.57% gains, +37.37% annualized

Following Bitcoin finding strong support at $100,700, I decided it was time to reset the trade entirely. I trimmed the position a bit more, making seven (7) more sales at an average price of $103,357.65 (after fees) which lowered my allocation -3.57% from 6.533% to 6.300%.

I opened the trade on December 15, 2024 at $100,000.00 and closed it on May 13, 2025 at $102,000.00. Thanks to buying the crash all the way down, I dramatically lowered my per-coin cost which allowed me to lock in +15.571% in gains (after fees) over the past five months which works out to +37.37% annualized, a gain I’m obviously not unhappy to take.

As always, I will keep the profits I have taken as Bitcoin and transfer them off the exchange, keeping the remainder to start the next trade with a $102,000.00 per coin cost basis.

Rather than measure my Year-To-Date progress in terms of fiat currency, I always look at how much more Bitcoin I have accrued from my trades. So far, I own +3.12% more Bitcoin since the start of 2025 which is a good start, in my opinion.

Bitcoin Trade Update

Current Allocation: 6.167% (-2.11% since Trade Start)
Current Per-Coin Price: $101,960.96 (-0.04% since Trade Start)
Current Profit/Loss Status: +1.68% (*New Trade*)

Resetting the trade with a $102,000.00 per-coin cost provides me with a lot more optionality. I can now start adding below that price to take down my per-coin cost and trim some of the position if we see higher highs, particularly since I’m starting with an allocation +14.54% larger than the trade I started with in December 2024.

With Bitcoin trading above my cost basis, I continued to use the opportunity to trim the position and lock in gains, selling small quantities whenever Bitcoin encountered new resistance. I made a total of four (4) sales for an average selling price of $103,836.77 (after trading fees). The sales lowered my per-coin cost -0.04% from $102,000.00 to $101,960.96 and served the more important goal of limiting risk, reducing my allocation exposure down -2.11% from 6.300% to 6.167%.

Once more into the breach of the volatility game, my friends! 😀👍

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My Next 30 Bitcoin Buy Targets

Premium subscribers to Get Irked get access to my next thirty (30) … yes, 30 … buys in Bitcoin including price levels and quantities. Additionally, premium members get exclusive access to Microsoft Excel and Google Sheets version of my Bitcoin Trading Calculator.

I also include a tutorial video on how I execute my Trade2HODL strategy that I developed to accommodate crypto’s incredibly volatility after the 2018 crash which has never had a losing trade in more than 150+ trades since I started using it.