Officially, Bitcoin succeeded in breaking through the psychological and pivotal $70,000 barrier, amid massive buying liquidity and strong bullish momentum currently dominating the market!
What does this breakout mean?
Positivity has turned into full momentum: breaking this level boosts buyers’ confidence and channels liquidity from altcoins into Bitcoin.
Short positions liquidation (Short Squeeze): the rapid rise forced the closure of futures selling positions, increasing the speed of the price surge.
Next target: Everyone’s eyes are now on a retest of the previous historical peak and consolidation above the $72,000 zones.
⚠️ Risk management tip:
With this rapid rise, market volatility is increasing. Avoid entering out of FOMO (fear of missing out) with highly leveraged futures contracts, and make sure your targets and strategy are clear.
👇 Share with us in the comments:
Do we see Bitcoin at $75,000 before the end of this week? Or do you expect a retest of support levels at $68,500 first?