New analysis predicts an ‘epic’ Bitcoin price milestone with monthly close above $69K.

Bitcoin (BTC) will only experience a significant breakthrough when it surpasses its previous all-time high from 2021, according to Keith Alan, co-founder of trading resource Material Indicators. He identified $69,000 as the crucial price level that BTC needs to overcome. Despite Bitcoin’s positive performance in May, it has been unable to reach its previous all-time highs and continue its price discovery. Alan noted that this lack of progress is not surprising given the current sell-side liquidity. He emphasized that turning $69,000 from resistance to support is essential for Bitcoin to establish a new upward trend. The recent failed attempt to sustain above $69,000 was met with little concern by Alan. Bitcoin is on track to have its best May in four years, with a potential 12% increase for the month. However, it remains down in Q2 after a strong performance in the first quarter. This article does not provide investment advice and readers are encouraged to conduct their own research.