🚨 IMPORTANT UPDATE: Bitcoin Poised for Major Surge! 🚨
In this post, I’ll outline why Bitcoin might soon hit a new all-time high (ATH). By comparing Bitcoin’s current market trends with those of gold CFDs from May 2020 onwards, I’ll explain why I believe this is likely.
**Comparison Overview:**
Bitcoin seems to be following a pattern similar to gold, though on a shorter timescale. I’ll illustrate this by analyzing the weekly gold chart alongside the daily Bitcoin chart.
**Gold (US$/OZ):**
Take a look at the gold chart provided. Gold traded within a consistent range for a lengthy period. After an initial drop following a surge, it experienced another increase, staying within the range limits. Eventually, gold broke out of this range (marked in red on the chart) after a drop to retest the lower end. Despite initial predictions of further declines, gold reversed course, made a significant recovery, and reached a new ATH.
**Bitcoin ($BTC):**
Now, examine the Bitcoin chart. Bitcoin is mirroring gold's market behavior. Like gold, Bitcoin had a brief drop from its range but then made a V-shaped recovery, reflecting gold’s pattern. The timing of these movements between the two charts is quite similar. Importantly, while gold retested the 20 EMA after its initial surge, Bitcoin has yet to do so. I anticipate that Bitcoin will soon retest the 20 EMA, leading to a potential new ATH.
Bitcoin’s current trajectory closely resembles gold’s past performance, suggesting that this pattern will persist. Don’t be swayed by influencers predicting a range of $44-48k; the charts imply a much greater upside.
Thank you for reading. Stay tuned for updates.
**Interested in learning more about technical analysis?** Drop me a DM or comment below, and I’ll reach out to you.
#BTC #Bitcoin #TechnicalAnalysis #MarketTrends #BullishOutlook
