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Forecasting bitcoin prices made exactly a month ago by a popular cryptographic analyst Dr. Profit on social media platform x Developed with engaging accuracy. On March 21, the doctor’s profit presented a detailed trajectory of bitcoin prices, anticipating specific price movements, retaining zones and support, and Impact of money supply M2. Quickly until April 21, Bitcoin price movements strictly reflected the analyst’s forecast, giving the credibility of the other parts of his forecast.
How Bitcoin followed the forecast of the doctor’s march
Doctor’s profit The analysis is based on Bitcoin response to changes in M2 supply, which he identified as an misunderstood indicator. He argued that although the market has experienced an augment in liquidity since February, a significant rally Bitcoin since September 2024 has already appeared in this expansion of liquidity, as opposed to what most investors expected.
In particular, the Doctor Profit previously emphasized the key technical level, the weekly EMA 50, also known as the Golden Line, about USD 76,000. He expected to reflect from this level, anticipating moving to the region 87,000 to USD 88,000 before the next correction.
Bitcoin followed this scenario almost accurately, crashing in the first days of April before it reflected from around $ 76,000 on April 9. Now bitcoin accumulated above $ 87,000, Coinciding exactly with the forecast of a profit doctor.
Next phase: Bitcoin goes to the support zone between 70,000 and USD 74,000
Now, when Bitcoin has bounced and again trades above USD 87,000, the direct goal of Dr. Profit is a potential disaster compared to 74,000 to USD 70,000, which is slightly below the distinguished golden line. According to the analyst, the behavior of the market in this support zone will be decisive. Bitcoin price in this zone will reveal his next The main directional attitude.
Doctor Profit presented two clear scenarios based on Bitcoin’s reaction in prices from 74,000 to 70,000 USD. If Bitcoin experiences only a momentary wick in this respect and manages a mighty everyday or weekly close to the golden line, this would signal reversal and it would be reasonable to close miniature positions and start collecting long positions. However, if Bitcoin closes below this key area, it can cause a deeper bear, leading its price to much lower levels, perhaps visiting the 50,000 USD region in the worst script of the black swan.
In particular, any bears of the scenario takes place, It will be expected until April and probably at the beginning of May. Despite the current miniature -term perspectives of the bear, the Doctor Profit maintained a stubborn long -term view. He probably predicted that Bitcoin Bull Run would resume around May or June, ultimately directing the price towards the novel highest all time in the range from 120,000 to 140,000 USD.
At the time of writing, Bitcoin trads $ 87,526, which is an augment of 3.28% in the last 24 hours. Bears perspectives for $ 74,000 would only be annulled if Bitcoin It successfully closes a weekly candle Above $ 100,000.
A distinguished picture from Adobe, chart from TradingView.com
