🚀 Bitcoin Rockets! Next Target $100,000? (23 April 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where Bitcoin spikes in momentum out of a bull flag formation!

Now, where did I hear that prediction from on Saturday last week? 🤔

Oh, yeah . . . the BullMarketBytes’ newsletter, duh . . .

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin Technical Analysis - Bull Flag Succeeds!

• What to Anticipate Next - Turning Resistance into Support!

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - Tesla Holds $1 Billion in Bitcoin, Institutional Demand Could Rocket Bitcoin to $200,000, Trump Family Pursue Bitcoin Mining Operation & More!

BITCOIN TECHNICAL ANALYSIS

What a wild move we have just witnessed from Bitcoin!

As we stated in last Saturday’s newsletter . . .

🤔 Are we still confident in Bitcoin’s movement in April? As we have been saying for quite some time, May to July/August this year is a timeline to watch for!

Yes, we are still confident in April being a month that preps the market for large moves to occur in the upcoming months . . .

With that said, in that same issue of our newsletter, April was at +2.91% - now it has rocketed to +13.23% so far in April!

There may have been doubters when we said we were confident about April, but as we always say, when Bitcoin moves it moves!

Let’s take a deeper look into Bitcoin’s recent move, but before we do, a word from today’s sponsor!

Thank you to The Rundown AI for sponsoring today’s newsletter!

With Bitcoin’s recent break of not only one resistance line but two, the market is starting to come alive!

We saw not only a break of resistance at $88,669.92 but also a break at $92,064.05!

💭 Think about this! In less than 48 hours, Bitcoin moved from ~$85,182.91 to $94,589.72 which is +11.04%!

To place that in perspective, the average return rate for the stock market in 12 months is ~7%!

So, is this only the beginning or was that the move we have been waiting for?

Let’s take a look below and see what Byte has for us today.

🤖 Byte the Bot: “Bitcoin massively successful with breaking through the bull flag formation! Potential overextension detected!

Support must be generated in the “bullish area” for continuation of upward movement - success rate is at 58.12% - good luck, humans!” 🤖

Good luck, indeed. With Bitcoin’s recent movement, we may be stepping slightly into an overextension of Bitcoin.

However, this move did “fill the gap” from when Bitcoin crashed from $96,576.50 to ~$78,127.80.

Even though Byte indicated a 58.12% chance of success with staying in the “bullish area” - which is somewhat high- it could be even higher . . .

Byte is just overly cautious, which is good in “high stakes” investing.

Why did Bitcoin stop where it did with its recent upward momentum? Well, let’s check out the “What to Anticipate” section below for more!

WHAT TO ANTICIPATE

It seems that we received our wish from what we said in our last newsletter:

When Bitcoin made its recent move, it broke through two resistance lines but stopped at ~$94,589.72.

Why? Because ~94,589.72 was a strong resistance level that held Bitcoin down on the 3rd of March this year.

Breaking this is our next target, however it isn’t as simple as it sounds.

📊 What if we break ~$94.589.72? Breaking this resistance would then lead to $96,576.50 - our next resistance level . . .

Yes, there are many resistance levels that we must break on our path to $100,000.

However, we do have something that is currently keeping us on track . . . a support line! If this is held, we will break through $96,576.500 by 2 May 2025!

📉 What if we break below $92,064.05? Then we go back into limbo. We aren’t in the “bullish area,” however we aren’t in the “pullback area” either.

We would highly recommend that we hold above $92,064.05, but Bitcoin has a mind of its own so it is hard to tell what it will do sometimes . . .

🌍 In a perfect world: Bitcoin will continue sideways movement and pullback to $92,064.05. Let’s be clear, we don’t want it to break this level.

Having slightly higher movement while we have this momentum going is desired so when it pulls back, it holds and turns resistance into support.

 💭 What are our final thoughts? In our opinion, this is only the beginning for what we have been waiting for.

Imagine if we start building support around $90,000 - $100,000 and then Bitcoin rockets similar to 2017 and 2021!

It is easy to project that Bitcoin will break through $160,000 and even up to $180,000!

We keep saying May to July/August this year, but who knows, we are just going off of what we see in a crystal ball that works half the time.

And with those last words of confidence . . . good luck, friends.

BULL MARKET BULLETIN 📌

Elon Musk’s Tesla Still Owns Bitcoin! Even though Tesla fell short of its projected first-quarter revenue, we found out that Tesla holds nearly $1 billion in Bitcoin! 😎 Valued at ~951 million - down from $1.076 billion as of December 30, 2024 - it is a bullish indicator that the vehicle manufacturing giant is still on board!

Institutional Demand Could Make Bitcoin Rocket! It’s interesting . . . just a week ago, everyone was panicking and selling everything they own for something more stable like Beanie Babies . . . and then the panic just stopped! With Bitcoin’s recent upward movement, analysts are now stating that Bitcoin could easily push past $200,000! 🤯 Our thoughts? It doesn’t sound as far-fetched as we are once again approaching $100,000 - emphasis on the “once again” part of the sentence.

Trump’s Sons and the Bitcoin Mining Operation. Believe it or not, but mining Bitcoin was once easier and simpler than it is today. On top of that, if you mined one block you would receive 50 Bitcoins in 2010 . . . that is about $4.6 million today! 👀 With that said, President Trump’s sons - Eric Trump and Donald Trump Jr. - have teamed up with executives for their own mining operation. The thing is . . . these executives may have a morally gray past in cryptocurrency.