#BITCOIN's road to $162k by May 2022! Here's Why!Welcome to this Exclusive Analysis on BTC everyone.
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Let’s get straight to the point and zoom out the bitcoin chart and see how bitcoin bitcoin reacted after the last three halvings to understand the potential target for Bitcoin within May 22.
First Halving
The first halving of bitcoin happened on 26th of November 2012. After the Halloween the bitcoin price pumped all the way to $1140 with an increase of 9390.87% from its having low.
We saw an almost 83% retracement after that which was a bear market for almost 420 days.
Second Halving
After the second Halving the bitcoin price made a low of $483 and then it started a parabolic move to almost $20,000 with an increase of 3914.50%.
We saw the same 83% retracement after that and the price of bitcoin went as low as $3148.
Third Halving
The third having happened on 11th of May 2020. Before the Halloween I posted an analysis in which I speculated move from $7000 $132,000 per bitcoin by May 2022
I will leave the chart link below this analysis.
The bitcoin price pumped all the way to $64,840 the real question is whether the bull market is over or are we really Entering a new parabolic move for Bitcoin which will eventually end up with a new all-time high?
IMHO as the chart speaks the bitcoin price bounced right from the 21 weekly moving average showing some strength for a parabolic move.
It is highly likely that bitcoin is going to make a new all-time high if it breaks the $53,000 resistance. The new target for bitcoin would be $162000 by May 2022!
All that Bitcoin needs is to do is to hold the 21 Weekly MA and the 30k level!
Many indicators are showing signs of strength in the market.
However I would also like to point a bearish scenario with you all!
You can see in the last two halvings the bitcoin price bounced
right off the 21MA and went below it after few weeks as shown in the little boxes B1, B2 and B3!
This is why I have always pointed out that 21 weekly moving average is an important bull market indicator.
So basically Bitcoin needs to hold to support levels-and the 21 Weekly MA and number two $30,000 level if it does we are likely to get a new all-time I buy the end of May 2022
The overall Data I’ve shared in the first part of this analysis is still on board!
Just the target has been increased by few percentage!
It’s just 2.5x from 60k to be honest.
So now you know what we need for the Bull Market to continue
Whats your thought win this?
Do you think it’s possible for BTC to make a new ATH or is it just a trap before we enter a Bear Market?
As shown in the Black box in the chart?
Do share your views and ideas in the comment section.
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#PEACE
