From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

After a powerful breakout last week that pushed Bitcoin into a new all-time high of $118,667, the world’s leading cryptocurrency appears to be taking a breather. As of the time of writing, Bitcoin is trading around $117,953, slightly below its recent peak. The move followed a string of consecutive daily gains as bullish momentum swept across the crypto industry.

In a technical analysis shared on the TradingView platform, crypto analyst RLinda pointed out two scenarios that may play out over the coming days and weeks, depending on how Bitcoin reacts to nearby resistance and support levels.

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Support Zones Could Affect Bitcoin’s Next Big Move

RLinda’s technical analysis begins with identifying the significance of Bitcoin’s recent all-time high. Although Bitcoin has entered what seems to be a consolidation phase, there’s no confirmed top just yet. The market structure still favors bullish continuation, especially considering Bitcoin is just coming out of a prolonged two-month consolidation zone and entering a realization phase.

According to the 1-hour candlestick price chart, Bitcoin is currently trading just above a support area below $117,500. If Bitcoin fails to hold this zone, the leading cryptocurrency could kick off a cascade of corrections that could drive the price to $115,500, then potentially to $114,300, and even back to the previous all-time high of $111,800. 

Below that, the 0.5 and 0.705 Fibonacci levels around $113,031 and $111,960 respectively may act as temporary cushions. The last major defensive buy zone is around $110,400, where bulls may step in for a bounce. Basically, what this means is that if Bitcoin loses the support level at $115,500, it could slip back to $110,000 before encountering another strong buy support zone.

Image From TradingView: RLinda

Bitcoin To $125K, But It Must Breach Resistance First

On the other hand, Bitcoin can still push above $118,000 and increase to $125,000, but only under certain conditions. The condition of the rally’s continuation depends primarily on Bitcoin registering a decisive daily close above $118,400 and $118,900. In her words, a daily close above these price levels would hint at a “breakout of structure.” This, in turn, would confirm a transition from consolidation into another impulsive phase upward.

In essence, both the bearish and bullish outlooks depend on how Bitcoin reacts at any of the important zones, either support at $116,700 or resistance above $118,400 before making a directional move. However, it is important to note that the consolidation after last week’s rally could last for weeks or even months, much like we’ve seen in previous rallies this cycle.

According to the Long-Term Holder Net Unrealized Profit and Loss (NUPL) metric from Glassnode, Bitcoin’s current level of long-term profitability sentiment is at 0.69. This is notably below the 0.75 mark associated with euphoric market conditions, despite Bitcoin having just printed a new all-time high.

Image From X: Glassnode

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Bitcoin spent around 228 days above the 0.75 euphoria threshold in the previous bull market cycle. In contrast, this current cycle has only seen about 30 days above that level, which suggests long-term holders have not yet fully exited into profit and the leading cryptocurrency hasn’t reached overheated conditions.

Featured image from Unsplash, chart from TradingView

Bitcoin’s price movement is starting to look positive after a brief stretch of crashes on Sunday and Monday. After breaking down to $74,000 on Monday, bearish momentum looked ready to drag Bitcoin’s price down further. However, bulls quickly stepped in to defend the dip. Their aggressive buying has pushed the price back up, with Bitcoin now moving towards the $80,000 level again. 

This recent crash is interesting because it aligns almost perfectly with a high-telling metric. This metric not only foreshadowed the crash, but it is now pointing to a powerful upward move for the next Bitcoin rally.

Analyst Says Global M2 Is A Leading Signal For Bitcoin’s Next Move

Colin, a well-followed crypto analyst on X, recently drew attention to Bitcoin’s relationship with the global M2 money supply. Taking to social media platform X, the analyst shared a chart showing Bitcoin’s price correlation with the Global M2 Money Supply, although with a 108-day offset. It almost looks like the Global M2 Money Supply is working as a template for Bitcoin’s price action, as the leading cryptocurrency has been tracing this offest almost step by step since August 2024.

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In his latest post, Colin explained that Bitcoin continues to “follow Global M2 like glue.” The chart he shared overlays Bitcoin’s candlestick movements with a yellow line representing the M2 supply offset by that duration. The result is a striking correlation that Colin has consistently tracked for over a year. 

The chart below highlights what Colin labeled a mini-rally that failed and another crash, which has played out just as M2 had predicted. Now, with Bitcoin starting April with this crash, the M2 indicator suggests that it could very well blast off anytime soon.

However, Colin noted that the price could consolidate further or experience minor dips before the anticipated rally. The analyst noted that the leading cryptocurrency is not fully out of the woods. But if lucky, it will be mostly sideways from here until the blastoff shown by the M2, which is not until May.

May Blast-Off? BTC’s Rally Setup Strengthens Despite Short-Term Crash

Colin’s forecast is based on the idea that Bitcoin could begin a major upward move by early May, which he called a May “blast-off.” The yellow M2 projection curve on his chart shows a steep climb ahead starting from May 1, indicating the possibility of Bitcoin rallying toward $128,000 if the correlation remains intact.

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However, the analyst did not forgo the short-term risks that Bitcoin and the entire crypto market might face in April. These short-term risks are based on policy concerns regarding the “Trump tariffs,” which have set the investing markets ablaze in the past few days. 

The coming weeks will be important for the outcome of this blastoff. Should it hold above the $78,000–$80,000 level while maintaining alignment with the Global M2 Money Supply, May could usher in the parabolic move Colin is hinting at.

At the time of writing, Bitcoin is trading at $79,255, up by 5.5% in the past 24 hours.

Featured image from Unsplash, chart from Tradingview.com

A recent analysis comparing Bitcoin’s price movement and the Global M2 money supply has added another data point to the growing argument for a bullish phase ahead for the cryptocurrency. Colin, a crypto analyst known on social media platform X as “The M2 Guy,” recently shared an update suggesting that Bitcoin may be on the verge of a significant upward move, and the expected timeline might continue to test the patience of Bitcoin traders.

Bitcoin’s Incoming Rally May Mirror M2’s Explosive Growth

Colin, a crypto analyst known on X as “The M2 Guy,” has continued to build his case around the correlation between Bitcoin and macro liquidity trends. His outlook on Bitcoin, which is currently bullish, is based on an offset correlation between the cryptocurrency’s price action on the daily candlestick chart and the global M2 money supply. 

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In a previous analysis, the analyst noted that Bitcoin’s price action on the daily candlestick chart has the best correlations on the 70-day and 107-day offsets. The most recent update from the analyst focuses on the 107-day offset, which he termed “the most likely scenario.”

Analysis of Bitcoin’s 107-day offset with the global M2 money supply shows that Bitcoin is about to go on a blast-off spike. However, this isn’t just about a one-day spike. Colin projects the rally could last for two months based on the sharp vertical trend of the global M2 supply.

As for the timing, the 107-day offset suggests that the blast-off spike is expected to kick off around April 30 based on a mathematically strong correlation. If the M2 line continues its upward surge, the rally could last even longer.

Focus On The Macro, Not Just The Day

Although April 30 is a focal point in his projection, Colin cautioned followers not to become overly fixated on the exact date. “Don’t get caught up in the weeds,” he advised. The larger narrative is more important, reflected in the soaring global M2 levels, which should create an environment ripe for Bitcoin and other crypto assets to benefit from increased liquidity. 

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In terms of a price target, the current trajectory of the global M2 money supply points to a rally above $140,000. However, interesting predictions have suggested that the Bitcoin price has a chance of doubling before the end of 2025.

At the time of writing, Bitcoin is trading at $84,310, having spent the last 24 hours trading in a range between $83,700 and $84,300. Based on this analysis of correlation with the global M2 money, bullish Bitcoin investors might need to wait for at least another month before any significant movement. 

This delay might pose challenges for short-term traders depending on their positioning and risk tolerance. On the other hand, it gives long-term holders the opportunity to accumulate more bitcoins at the current low price before the predicted rally.

Featured image from Unsplash, chart from Tradingview.com