Thread by @realMatrixport

#Bitcoin set to soar with projected target of $36,000 as technical breakout signals strong #rally amidst positive market outlook fueled by #stockbuybacks and #memecoins

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1/10: #Bitcoin prices could be set to surge as the #cryptocurrency #trades within a narrowing triangle that is about to break to the upside, potentially projecting a move higher by around 6,100 points.

2/10: A #breakout could lead to a 20% increase from current prices, setting a target of $35,000/$36,000 for #Bitcoin (#BTC).

3/10: The #Fed's recent 25bps #interestrate hike may be the last for this cycle, potentially setting up the market for another strong #rally.

4/10: Continuous #bankfailures requiring #liquidity injections and government guarantees for acquiring parties have been observed.

5/10: #Stockbuybacks are resuming after the recent #earningsseason for #US companies, with expectations for $1 trillion in #buybacks this year, providing a general tailwind for #stocks and #riskassets.

6/10: Although #tradingvolume has declined recently, the path higher for #Bitcoin sees only limited resistance, with transactions on the network reaching new all-time highs and the number of #activeaddresses remaining strong.

7/10: Projecting data points for May could see a strong pick-up in #Bitcoin #transactionfees as a percentage of total miner revenue to the levels we saw in May 2021.

8/10: #Memecoins such as #DinoLFG, #Pepe, #Wojak, #ChadCoin, and #IgnoreFud have seen significant #trading activity, indicating a change in sentiment.

9/10: While most #memecoins may be small and insignificant, their #trading activity is worth noting as it signals a shift in market sentiment.

10/10: With #Bitcoin breaking higher, #stockbuybacks supporting #stocks, the #Fed appearing on hold, positive #Bitcoin transaction data, and a shift in sentiment towards a more positive outlook driven by #memecoins, it is hard to be #bearish about the market.

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