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BTC’s Bullish Breakout

Yesterday I said that BTC was forming a tight range between the orange resistance line and $61k support level. I emphasized that BTC will form a significant move, and today BTC has formed a bullish breakout with a rally back to $64k. I have the upper end of the bull pennant as a key target ahead, which is the white trendline that gives a price target of approximately $66.8k. Many of you have been bearish throughout the month, I kept reassuring you that I’m bullish in May. There are a lot of possible scenarios, but I think we get an early rally to $100k before a significant correction. I would like to see BTC rally to $80k as a sign of confirmation.

Bullish Crypto News

Andrew Tate has announced that he plans to abandon fiat currency and invest in Bitcoin. In a post to X, Tate says he plans to invest over $100M in Bitcoin.

In a new disclosure, investment management company Millennium Management has revealed holdings of almost $2 billion in spot Bitcoin ETFs. This revealing was made through a SEC 13F-HR institutional investment manager holdings report filed today, and underscores the increasing interest and investment in Bitcoin ETFs by major institutional players.

Bitcoin could experience a parabolic rally soon, which is a common bullish trend observed within the months after the Bitcoin halving cycle.

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