Bitcoin Closes 2 Green Monthly Candles: Here’s What Historical Data Says Is Coming Next

He noted that BTC closed March and April in the green, with gains of 2 and 12, respectively. As such, the analyst remarked that this month is likely to close red unless this cycle is different from every previous one. Related Reading: Analyst Predicts Exactly When To Sell Bitcoin For The Most Return Max also mentioned that further downside remains, given the higher probability that May is a historically weak month and a large amount of liquidity is sitting below. However, it is worth noting that Bitcoin is already up almost 6 this month, rising to a multi-month high of 81,000 today. This has provided optimism that the bull market may be back with BTC targeting new highs. The analyst commented on the current Bitcoin price action, indicating that it is still bearish despite the recent rally. He noted that on the first two attempts to break above the 79,000 resistance, a clear rejection followed. Now, on this third attempt, price has managed to break above but quickly lost momentum and closed back below the resistance. In line with this, Max opined that Bitcoin’s current price action looks like a typical fakeout and liquidity grab. He added that there is a high chance BTC will sweep the untouched lows next if price continues to find acceptance below 79,000. How BTC Could Reach 94,000 Crypto analyst Ali Martinez predicted that Bitcoin could reach 94,000 on this rally. He noted that on the daily chart, BTC is approaching the 200 SMA at 83,000, which is the most significant psychological and structural barrier. The analyst added that a clean daily close above this hurdle could clear the path for a macro expansion toward 89,000, with a secondary target at 94,000. Related Reading: What The Sharp Drop In The Coinbase Bitcoin Premium Means For The BTC Price Martinez also noted that Bitcoin continues to show structural strength, with a 15 price increase following a bullish MACD crossover on the weekly chart on April 13. He added that historically, this specific weekly crossover has been a premier signal for defining multi-month trends. Notably, this crossover led to 147, 75, and 35 rallies in 2023, 2024, and 2025, respectively. At the time of writing, the Bitcoin price is trading at around 81,000, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com