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A Bitcoin price prediction was made exactly a month ago by the popular crypto analyst Doctor Profit on the social media platform XA unfolded with interesting precision. On March 21, Doctor Profit described a detailed trajectory of prices for bitcoin, forecasting specific prices, resistance and support areas, and the Influence of money mass M2. Quick advance until April 21, Bitcoin price movements have closely reflected the analyst’s forecasts, lending credibility to the remaining parts of his prediction.
How Bitcoin followed the Mars forecasts of Doctor Profit
Doctor Profit’s The analysis is based on Bitcoin’s response to changes in the money supply of M2, which he identified as an ill -understood indicator. He argued that although the market experienced an increase in liquidity from February, the significant optimistic rally of Bitcoin from September 2024 had already taken this expansion of liquidity into account, contrary to what most investors expected.
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In particular, 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 of this level, projecting a transition to the region from $ 87,000 to $ 88,000 before another correction.
Bitcoin followed this script almost exactly, crashing in the first days of April before bolishing about $ 76,000 on April 9. Now Bitcoin rallied above $ 87,000, coinciding precisely with the prediction of Doctor Profit.
Next phase: Bitcoin heading to the support area from $ 70,000 to $ 74,000
Now that Bitcoin has rebounded and negotiated again above $ 87,000, the next immediate objective of Doctor Profit is a potential accident around $ 74,000 at $ 70,000, which is slightly lower than the highlighted gold line. According to the analyst, market behavior in this support area will be decisive. It is in this area that the price of bitcoin will reveal his neighbor major directional bias.
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Doctor Profit presented two clear scenarios based on the Bitcoin reaction in the price range from $ 74,000 to $ 70,000. If bitcoin only feels a temporary wick in this beach and manages a strong daily or weekly closure above the golden line, this would signal a reversal, 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 deeper lower movement, which has led its price to significantly lower levels, perhaps revisiting the region of $ 50,000 in the worst black swan scenarios.
In particular, whatever the downward scenario, we expect that By April and probably in early May. Despite the current short -term lowered prospects, Doctor Profit has maintained a long -term bullish point of view. He predicted with confidence that Bitcoin Bull Run would resume around May or June, which finally led the price to new heights of all time in the range of $ 120,000 to $ 140,000.
At the time of writing this document, Bitcoin is negotiated at $ 87,526, up 3.28% in the past 24 hours. The downward perspective towards $ 74,000 would only be invalidated if bitcoin successfully closes a weekly candle Above the level of $ 100,000.
Adobe Stock star image, tradingView.com graphic
