- Bitcoin forms a historic golden cross pre-ETF, signaling extended bullish trend.
- Analyst Doctor Profit predicts staged BTC scenarios, maintaining an optimistic outlook.
- Community anticipates Bitcoin Spot ETF approval impact, despite potential delays.
In a historic turn of events, Bitcoin (BTC) charts a golden cross on its weekly chart, aligning with the imminent Bitcoin Spot ETF approval. This unprecedented golden cross is anticipated to usher in a prolonged bullish trend for the leading crypto asset, according to the community’s widespread speculation.
Amid the discussion renowned Bitcoin price analyst Doctor Profit reflects on his track record, boasting an impressive 8 out of 10 correct predictions over the past two years. With an eye on the macro landscape, he foresees a seven-stage scenario for what comes next.
Firstly, he anticipates 30-40% correction to the $35K region. This will then be followed by a period of boredom as optimism wanes till the halving and disappointment and skepticism post-ETF verdict.
Secondly, he expects the initiation of a substantial rally, breaking the $48K barrier which will lead to a rapid ascent to $60K with significant green candles. Finally, he says we will see a minor correction to $55K before another surge where profit-taking can commence around the $80K mark.
Despite acknowledging past errors in predicting a bear market and a short-selling target, Doctor Profit maintains a positive outlook. His foresight into the 16-18K range marking the bull market’s start brings confidence, with no plans to sell his holdings anytime soon.
Doctor Profit suggests holding onto spot positions and avoiding premature profit realization. According to him, the Bitcoin Spot ETF approval is imminent this year, even if not in the current month. Community members remain optimistic about bullish outcomes, despite delays in the anticipated verdict on the Bitcoin Spot ETF.
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