Craig Cobb says Bitcoin is approaching a critical moment after last week’s sharp volatility tested one of the most important support zones on the chart. The recent selloff bounced almost perfectly off the old $74,000 breakout level from late 2024, the same area where Bitcoin first launched toward $100,000 after President Trump’s election victory. That bounce helped stabilize the weekly structure and potentially form a higher low, but Craig stresses that Bitcoin is still technically locked inside a daily downtrend until it can decisively break above recent highs and reverse momentum
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While Bitcoin has managed to hold up relatively well, Craig says Ethereum continues to be one of the biggest warning signs in the market. Ethereum remains significantly weaker than Bitcoin and has failed to produce the same kind of recovery strength, continuing to trade heavily inside key moving average zones. In Craig’s view, Ethereum acts as a major health indicator for the broader altcoin market, and right now that signal remains weak. Across much of the top ten, including Cardano, Solana, XRP, and Dogecoin, the market continues moving mostly sideways with very little real follow-through despite temporary rallies.
One of the few exceptions has been Tron and especially Hyperliquid, which Craig says continues showing unusually strong momentum compared to the rest of the market. Hyperliquid pushed to fresh all-time highs last week, supported by strong revenue generation and aggressive buyback mechanics. Craig notes that while the larger market has struggled to sustain trends, smaller pockets of momentum and cleaner lower-timeframe setups are still providing strong trading opportunities for traders focused on structure, trend, and cyclicity rather than broader narratives.
Craig also discusses how he is currently trading the market, focusing primarily on lower timeframe setups where liquidity and trend structure remain cleaner. He highlights a recent successful Bitcoin trade taken on the 15-minute timeframe using his scanning platform and trading system. Rather than forcing trades based on emotion or headlines, Craig says he is simply waiting for clear trends and letting the charts dictate positioning. For now, the broader message remains cautious: Bitcoin is holding a critical support zone, altcoins still look sluggish overall, and the market has not yet fully proven that a sustainable bullish trend has returned.
You can follow Craig’s market tools and trade scanner at Market Intern and subscribe to his free weekly market breakdowns at The Grow Me Co.
