Bitcoin

After Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) finally managed to cross the psychological barrier at $30,000, <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> analysts are predicting more success to follow for the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset due to the historical <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart patterns</a> indicating it has completed all the necessary prerequisites to start a major <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> rally.Indeed, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has completed its last pullback “before heading to the Moon,” i.e., toward $190,000, while the new bottom before an all-time high (ATH) is expected to be in the $29,000 – $30,000 area, according to a projection <a href="https://twitter.com/paraboloic/status/1646431255221661697" rel="noopener noreferrer nofollow">shared</a> on Twitter by pseudonymous <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> analyst BitQuant on April 13.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/368de7e509384b5f9a1118c0bffc733a.jpg" />Bitcoin price action analysis and prediction. Source: <a href="https://twitter.com/paraboloic/status/1646431255221661697" rel="noopener noreferrer nofollow">BitQuant</a>One day before, the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> analyst published a slightly different assessment, arguing that the price of Bitcoin typically undergoes two retests after breaking the 10-week EMA (exponential <a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">moving average</a>). In the same tweet, BitQuant also stressed that “in this particular cycle, we are still awaiting the final retest before the price skyrockets to $190,000.”This earlier prediction was based on the observed activities of the maiden digital asset in 2020 and 2021, when the 10-week EMA and the bottom were, indeed, followed by two retests, after which the price soared toward the ATH of $69,000, which it finally reached in November 2021.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1b4db3c0535945858842230159161333.jpg" />Bitcoin price action analysis and prediction. Source: <a href="https://twitter.com/paraboloic/status/1646188804410163200" rel="noopener noreferrer nofollow">BitQuant</a>If today’s updated projection is correct, it would mean that there are no further obstacles for Bitcoin to start its move toward $190,000, which the analyst expects will materialize in 2024.<h2 id="header-0">Bitcoin price analysis</h2>In the meantime, the price of Bitcoin at press time stood at $30,210, recording an increase of 0.66% on the day and 7.14% across the previous week, adding up to the monthly gain of 24.94% and 81.69% since the year’s turn, as per the latest data retrieved on April 13.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ba643330d94a4c4796a59fbc621c5df6.png" />Bitcoin year-to-date (YTD) price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Elsewhere, Bitcoin has been demonstrating <a href="https://finbold.com/crypto-market-cap-adds-50-billion-in-a-day-amid-fiat-bloodshed-can-it-reach-2-trillion/" rel="noopener noreferrer nofollow">significant strength</a> against fiat currencies such as the United States Dollar (USD), the British Pound (GBP), the Chinese Yuan (CNY), and the Russian Ruble (RUB), which have all been going through a bloodbath in recent months, as Finbold reported on April 11.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin’s final pullback clears the way for its blastoff ‘to the Moon’

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