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Bitcoin price movement is starting To look positive After a brief stretch of accidents on Sunday and Monday. After breaking up to $ 74,000 on Monday, recession speed Felt ready to pull The price of bitcoin and below. However, the bull Step quickly To defend the dip. Their aggressive procurement has pushed the price back, with bitcoin now moving towards a level of $ 80,000 again.
This recent accident is interesting because it almost almost almost aligns with a high-tailing metric. This metric not only predicted the accident, but it is now pointing to a powerful upward step for the next bitcoin rally.
The analyst says that the Global M2 is a major sign for the next step of bitcoin
Colin, a well -prepared crypto analyst on X, Recently attracted attention Bitcoin relations with global M2 money supply. Taking to the social media platform X, the analyst shared a chart, which reflects the price correlation of bitcoin with a global M2 money supply, although with a 108-day-day offset. It almost seems to have been acting as a template for the price action of the global M2 money supply bitcoin, as the lead Cryptocurrency has been tracing the offense since August 2024.
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In his latest post, Colin reported that bitcoin “continues to follow global gum like Global M2.” Charts they shared the candlestick movements of bitcoin with a yellow line, which represents the M2 supply offset for that period. The result is a striking correlation that Colin has consecutively tracked for more than a year.
The chart below highlights that Colin labeled a mini-rally that failed and another accident, which was predicted by M2. Now, with bitcoin Starts from April with this accidentThe M2 indicators suggest that it can soon explode very well anytime.
However, Colin said that the price may experience ahead or minor dips before the anticipated rally. The analyst stated that the major cryptocurrency is not completely out of the forest. But if lucky is, it will mostly be sideways from here until the blastoff shown by M2, which is not until May.
Can there be a blast-off? BTC rally setup strengthens despite a short -term accident
Colin’s forecast is based on the idea that bitcoin can start a major Steps upwards till the beginning of MayWhich he called May a “blast-off”. The yellow M2 launch curve on its chart reflects a steep climb starting from May 1, which reflects the possibility of a bitcoin rally, if the correlation persists.
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However, the analyst did not abandon the short -term risks facing bitcoin and the entire crypto market in April. These short -term risk are based on policy concerns about “Trump Tariff” Set out investment markets In the last few days.
The coming weeks will be important for the result of this blastoff. What should be above the level of $ 78,000- $ 80,000 while maintaining alignment with global M2 money supply, the paralysis can enter colin.
At the time of writing, Bitcoin has been trading at $ 79,255 in the last 24 hours, which is 5.5% in the last 24 hours.
Specially displayed image from UNSPLASH, chart from traudingView.com
