🚨 IMPORTANT: READ THIS NOW! 🚨
🚨 Bitcoin is about to surge! 🚨
In this post, I'll explain why Bitcoin might soon hit a new all-time high (ATH). I'll compare Bitcoin's market structure with the gold CFDs market from May 2020 to now to make my case.
Comparison Overview: Bitcoin's market behavior seems to be following a pattern similar to that of gold, but on a shorter timeframe. I'll use the weekly gold chart and the daily Bitcoin chart to illustrate this.
Gold (US$/OZ):
Start by examining the gold chart provided. You'll see that gold traded within a specific range for an extended period, with minimal deviations. After an initial drop following a price increase, gold saw another rise while staying within this range. Eventually, after reaching the range's upper limit and then dropping to test the lower limit, gold broke out of this range (marked in red on the chart). Despite predictions of further declines, gold reversed the initial drop, recovered significantly, and reached a new ATH.
Bitcoin ($BTC):
Next, review the Bitcoin chart. Bitcoin's current market structure closely resembles gold's past pattern. Similar to gold, Bitcoin briefly fell out of its range but then showed a V-shaped recovery, echoing gold's previous behavior. The timing and pattern are clear. While gold retested the 20 EMA after its initial rise, Bitcoin has yet to do so. I anticipate Bitcoin will soon retest the 20 EMA and then reach a new ATH.
Bitcoin's trend appears to be following gold's previous pattern, and I expect this trend to continue. Don't be swayed by predictions of Bitcoin ranging between $44k and $48k. The charts indicate a higher potential.
Thanks for reading. Stay safe.
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