As Bitcoin (CRYPTO: BTC) edges closer to $118,000, prominent analyst Trader Mayne says the long-awaited 25-basis points interest rate cut clears the macro overhang and sets up one last Bitcoin-led push before an altcoin finale.
What Happened: On his podcast after the FOMC decision, Mayne argued the market can "just focus on the charts," noting a whipsaw in the S&P 500, strength in gold and muted initial crypto reaction.
He expects the current range to resolve upward, which could "sucker more people into the market," followed by a cleaner buying opportunity on weakness.
Structurally, Mayne still treats the higher time frame as bullish.
His trading sequence for the coming weeks: look for a final pop toward the upper boundary of Bitcoin’s range around $120,000, short into that resistance for a potential flush of long positions, then flip long for what he calls the final parabolic leg.
That roadmap features Bitcoin leading one more surge, after which dominance stalls and extreme altcoin moves see Ethereum (CRYPTO: ETH) hitting up to $7,000, Solana (CRYPTO: SOL) surging above $400 and Dogecoin (CRYPTO: DOGE) pushing for a new all-time high.
Also Read: Bitcoin Taps $117,000, Ethereum, XRP, Dogecoin Shine On Federal Reserve Rate Cut
Why It Matters: Mayne established clear invalidation levels for his thesis.
Referring to 2024’s all-time high of $109,00 as a critical support level, he says any significant time spent below that level should be seen as weakness.
Otherwise, the playbook stays simple: fade the over-extension, buy the flush, and ride Bitcoin’s last push into the long-awaited “altcoin season.”
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