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A forecast of Bitcoin prices made exactly a month ago by the popular medical profit of cryptographic analysts on the social media platform X has explained with an interesting precision. On March 21, Doctor Profit outlined a detailed price trajectory for Bitcoin, providing specific price movements, resistance and support areas and areas Influence of the offer of M2 coin. Fast forward April 21, Bitcoin’s prices movements have reflected the analyst’s forecasts closely, lending credibility to the remaining parts of its forecast.
Like Bitcoin he followed the March of Doctor Profit March
Profits of the doctor The analysis is based on Bitcoin’s response to the changes in the offer of M2 money, which has identified as a misunderstood indicator. He argued that although the market has undergone an increase in liquidity starting from February, the significant biitcoin upright manifestation from September 2024 onwards had already taken into consideration this expansion of liquidity, contrary to what most of the investors expected.
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In particular, the Doctor Profit had previously highlighted a key technical level, the weekly EMA 50, also known as Golden Line, at around $ 76,000. He expected a rebound from this level, projecting a transition to the region from $ 87,000 to $ 88,000 before another correction.
Bitcoin followed this script almost exactly, crashed in the first days of April before bouncing from about $ 76,000 on April 9. Now, Bitcoin has returned above $ 87,000, coinciding precisely with the prediction of Doctor Profit.
Next phase: Bitcoin header for the support area at $ 70,000 to $ 74,000
Now that Bitcoin has rebounded and has once again exchanged over $ 87,000, the next immediate goal of Doctor Profit is a potential $ 74,000 to $ 70,000 accident, which is slightly below the highlighted golden line. According to the analyst, the market behavior in this support area will be decisive. It is in this area that the price of Bitcoin will reveal his neighbor Greater directional prejudice.
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Doctor Profit presented two clear scenarios based on the reaction of Bitcoin in the price range from $ 74,000 to $ 70,000. If Bitcoin experiences only a temporary wick in this range and manages a strong daily or weekly closure above the golden line, this would signal an inversion and it would be prudent to close short positions and start to accumulate long positions. However, if Bitcoin closes below this crucial area, it could trigger a deepest bearish move, bringing its price to significantly lower levels, possibly revisiting the $ 50,000 region in a worse black swan scenario.
In particular, any bearish scenario takes place, It is expected to occur by April and probably at the beginning of May. Although the current perspectives repeated in the short term, Doctor Profit has maintained a long -term bullish vision. He involved with confidence that the Bitcoin Bull race would resume around May or June, in the end guiding the price to new maximums of all time in the interval from $ 120,000 to $ 140,000.
At the time of writing writing, Bitcoin is exchanged at $ 87,526, with an increase of 3.28% in the last 24 hours. The bearish prospects towards $ 74,000 would be invalidated only if Bitcoin It successfully closes a weekly candle Above the level of $ 100,000.
In the foreground image by Adobe Stock, TradingView.com graphic