Bitcoin Rumba to $80,000 🚀
Bitcoin has just broken through the $72,000 barrier for the first time since June. This strong surge came after comments about a possible government reserve or purchase in the U.S., triggering the liquidation of $3,000 million in short positions.
The bullish momentum 📈
Analysts at Pear Protocol and BlockViz agree that the fundamental outlook has changed. Thanks to institutional interest, steady flows into ETFs, and spot demand, the path to $75,000 and $80,000 is completely clear if the $70,000 support holds firm.
Caution and overheating ⚠️
That said, it’s wise to stay cautious. With a 14-day RSI hovering near the 79 mark and the price above the upper Bollinger Band, indicators point to a technically overheated market. A pullback toward $69,000 to cool off the signals can’t be ruled out before seeking new all-time highs.
Do you think it will hold $70,000 this week? 🤔#MinutosFOMC~ #CFTCSeeksInputOnComputeDerivatives #CryptoRally
Bitcoin has just broken through the $72,000 barrier for the first time since June. This strong surge came after comments about a possible government reserve or purchase in the U.S., triggering the liquidation of $3,000 million in short positions.
The bullish momentum 📈
Analysts at Pear Protocol and BlockViz agree that the fundamental outlook has changed. Thanks to institutional interest, steady flows into ETFs, and spot demand, the path to $75,000 and $80,000 is completely clear if the $70,000 support holds firm.
Caution and overheating ⚠️
That said, it’s wise to stay cautious. With a 14-day RSI hovering near the 79 mark and the price above the upper Bollinger Band, indicators point to a technically overheated market. A pullback toward $69,000 to cool off the signals can’t be ruled out before seeking new all-time highs.
Do you think it will hold $70,000 this week? 🤔#MinutosFOMC~ #CFTCSeeksInputOnComputeDerivatives #CryptoRally
