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A Bitcoin prize forecast made exactly one month ago by the popular crypto analyst Doctor profit on social media platform X has unfold with interesting accuracy. On March 21, the doctor’s profit outlined a detailed price process for Bitcoin, predicting specific price movements, resistance and support zones and the Influence of the M2 money supply. Fast Vooruit to April 21, Bitcoin’s price movements have closely reflected the prediction of the analyst and gave credibility to the remaining parts of his prediction.
How Bitcoin followed the prediction of doctoral profit
Doctor profit Analysis is based on Bitcoin’s response to changes in the M2 money amount, which he identified as a misunderstood indicator. He argued that although the market had an increase in liquidity that was from February, the important bullish rally from Bitcoin had already been incorporated into this liquidity expansion from September 2024, in contrast to what the most investors had expected.
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It was striking that the doctor’s profit had previously emphasized an important technical level, the weekly EMA 50, also known as the Golden Line, at around $ 76,000. He expected a strout of this level and projected a switch to the region from $ 87,000 to $ 88,000 before another correction.
Bitcoin followed this script almost exactly and crashed in the first few days of April before he returned on 9 April of around $ 76,000. Now, Bitcoin has gathered more than $ 87,000, Complicate precisely with the prediction of Doctor Profit.
Next phase: Bitcoin on the way to support zone for $ 70,000 to $ 74,000
Now that Bitcoin has been bounced and is being traded above $ 87,000, the direct goal of Doctor Profit is a potential crash to $ 74,000 to $ 70,000, which is slightly below the marked Golden Line. According to the analyst, the behavior of the market in this support zone will be decisive. It is in this zone that the Bitcoin price will reveal his next Great directional bias.
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The doctor’s profit explained two clear scenarios based on Bitcoin’s response within the price range from $ 74,000 to $ 70,000. If Bitcoin only experiences a temporary wick in this reach and manages a strong daily or weekly closure of the golden line, this would indicate a reversal, and it would be wise to close short positions and start collecting long positions. However, if Bitcoin closes below this crucial area, this can cause a deeper bearish, which leads the price to considerably lower levels, possibly visiting the $ 50,000 area again under the worst case Black Swan scenario.
In particular which bearish scenario takes place, It is expected that it will take place By April and probably in the beginning of May. Despite the current in the short term Bearish front views, Doctor wins a bullish long-term image. He predicted with confidence that the Bitcoin Bull Run would be resumed around May or June, so that the prize would eventually float to new heights of all time in the reach of $ 120,000 to $ 140,000.
At the time of writing, Bitcoin acts at $ 87,526, an increase of 3.28% in the last 24 hours. The Bearish prospects for $ 74,000 would only be invalid as Bitcoin Successfully closes a weekly candle Above the level of $ 100,000.
Featured image of Adobe Stock, Chart van TradingView.com
