$BTC trying to break the main resistance point of 71400. Currently trading in consolidation right below it. If there isnt a convincing breakthrough of this zone with high volume and a close, BTC could drop back to find support at 68500. However if the breakthrough is successful, take profit point will be at previous levels of february 72100 and 72800 then a resistance to support flip of the 71400 price line. If support is found, we are going to ATH at 74k first. With enough short liquidations at 74k, price could pump higher to 79k, as the hype of the new ATH will attract more new investors into the market as well.
However, my indicators are showing possible signs of reveral and im likely to agree. Next week will be CPI PPI reports for the US. I expect a huge selloff to happen before the weekend as a "risk aversion". However im expecting the report to be better than forecasts like i mentioned in a previous posts, so the pump we are expecting to 74k will most likely happen due to that on those days. If the Fed conference is dovish on the same day, 76k will definitely happen and by the end of the week or atleast month 79k as long as no black swans occur.
However, my indicators are showing possible signs of reveral and im likely to agree. Next week will be CPI PPI reports for the US. I expect a huge selloff to happen before the weekend as a "risk aversion". However im expecting the report to be better than forecasts like i mentioned in a previous posts, so the pump we are expecting to 74k will most likely happen due to that on those days. If the Fed conference is dovish on the same day, 76k will definitely happen and by the end of the week or atleast month 79k as long as no black swans occur.
