Bitcoin to 38500 in May - History set to repeat?
With all the influencers so certain that 100k Bitcoin is soon, this could be the set up no one is prepared for. I always hoped for the narrative that Bitcoin is close to beginning its next bullish phase because of the halving, but markets can change right when you think you know what’s next. Unfortunately Bitcoin is showing weakening momentum and sideways price action over continuous weeks with similar top patterns to the first half of the 2021 bull run. The bottom target would be exactly where we found support early on at 38500. What’s even crazier is the bottom to top targets of the 2021 bull run is the exact same days away from the bottom and top targets of 2024. If we see altcoins continue going up while Bitcoin goes sideways or down then that could be the first confirmation of this scenario.
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