Bitcoin Eyeing 70k; Breakout Calls ATH

Price of Bitcoin with ticker BTCUSD is once again approaching the key levels around $69K to $70K, where we find the upper trend line of a corrective channel that has been in place since March. If we see a successful push above this zone, there could be more upside, potentially heading towards $80K for a 5th Wave. However, expect some back-and-forth moves around $70K, especially given the liquidity and stops visible on the liquidations map. If we get some set-back after we spike above 70k, I think there will be an opportunity buy the dip.

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On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.