As you already know, I HODL Bitcoin for a long time now, and it’s not a secret that is part of my Investments Portfolio. As a matter of fact, I just withdrew a few thousand dollars to invest in a Beach-Front Property that I wanted to acquire for a while.
Well, it seems like we are heading to a BIG BREAKOUT on Bitcoin, and MILLIONS of people were waiting for this.
Bitcoin is holding right now slightly above $29,000 as of April 29th, 2023. But let’s take a look at the Technical Analysis.
- First of all, we have Support and Resistant levels at $15,000, then at $24,700 and then at $31,700. But after that, we have the next one at $46,600.
What this tells us is that we are inside of the range of $31k to $49K. However, what we have to look at is at the 200 EAM that has been crossed a few weeks back. That identifies a change on Trending, making BTC to jump into the trend that we need to reach the $46k level.
2. In this graphic, we can see (image from twitter user @AurelienOhayon) that this is a pattern that has been repeated at $81, then at $190, then at $4,500 and then at $19,000. What this means is that, IF THE PATTERN REPEATS, we are heading to close to $250,000 PER BITCOIN!! (Obviously we are looking at a 2-year run)
3. And lastly, and looking at the Short-Term, this image shows that we are about to have a good breakout. (image from TW user @rovercrc)
As you can see, it looks like we are heading towards a good breakout that can help us past the ATH of $69,000.
These are pure speculative thoughts, but they are based on history and real data. What do you think Bitcoin will do in May? Leave it in the Comments!