Bullish BTC Signal Shows Bitcoin on M2 Supply Path Indicating $130,000 ATH Target After June

Bullish BTC signal shows Bitcoin on M2 Supply path

This indicated that BTC could hit a new ATH of $130,000 after June.

Some analysts expect another small dip before a new BTC ATH in 2-3 weeks.

The price of Bitcoin continues to hold strong at the $105,000 price range despite its latest dip from the 110,000, indicating strong support for the pioneer crypto asset. Amid this, one reputed crypto enthusiast and investor shares that a bullish BTC signal shows how Bitcoin is on the same bullish path as the M2 supply. This leads to a high possibility of BTC hitting an ATH of $130,000 by July or August

Bullish BTC Signal Shows Bitcoin on M2 Supply Path

As we can see from the post above, this reputed crypto trader and investor says that Bitcoin is following perfectly along the M2 supply. This shows that the M2 supply and Bitcoin correlation theory are still in play. Thus, if BTC continues to follow the M2 pattern, then exciting new ATH targets will be hit for BTC prices. In fact, the post concludes saying BTC could hit a new ATH in 2-3 weeks with a BTC ATH target of $130,000.

Last week, the price of Bitcoin (BTC) fell from the $110,000 price range, just short of the ATH price range at $111,000, to a much lower price of $103,000. This price drop was speculated to be caused by two combined sources. The first is that a whale was liquidated for almost $100,000,000 in one go, leading to other liquidations, and the second is that Bitcoin Spot ETF saw a massive outflow in three consecutive days

Despite these bearish moves, seasoned analysts remained calm and watched a few retail hands panic sell. Despite these actions, the price of BTC continues to hold steady first at the $104,000 and now it is moving sideways steadily between $105,000 and $107,000. While some still anticipate a greater dip to the $98,000 0 $99,000 price range, most believe BTC will move directly to reclaim its previous ATH price before surging to hit the next ATH target.

As we can see from the post above, this crypto analyst shares a chart and marks a bounce for Bitcoin (BTC). In his eyes, this bounce is a very good signal marking bullish movement in the coming days and weeks ahead. To elaborate, the analyst says that while the bounce is good for bullish plans, BTC might not be ready to make a push towards the next ATH targets, at least not yet

BTC Pump Strategies at Play?

For now, the analyst states that BTC has hit a price range between the 4-hour supply around $106,500 and the 4-hour demand around $101,800. Then, the analysts state that to see higher prices, BTC must break and flip the red box as shown in the chart. Similarly, for lower figures, BTC will need to break below the green box

Overall, he states that BTC can make two or three drives while consolidating around the lows before finally breaking out to new highs. In conclusion, he states that BTC is under the 4-hour supply at $106,600, and only quick profit strategies are the play during this phase.