$BTC.D : Have we seen the top or a local top in the $BTC.D ?

BTC has been a recent bull run and trying to reclaim the ATH of 107K USD. Currently firmly above 100K the Crypto currency looks very bullish in the near to medium term. But what we have seen is an the BTC.D chart is having an initial hiccup in this later part of the cycle. For the first time in the last few quarters there has been a back to back 2 weeks where BTC.D has 2 red candles. BTC.D reached it local peak of 65.3% which we have closely predicated in this blog space many weeks ago. We said the target for BTC.D for this cycle is 66%. We came close to 66% and since then we are seeing weakness in the BTC.D chart.

Now the question comes was that the top in BTC.D chart ? My take is that this is a local top. We might see some weakness in BTC.D in the upcoming weeks. Then we will again bounce back to break above the 66% decisively before this cycle comes to an end.

Verdict : BTC.D achieved a local top. Cycle top taget remains above 66%. Long term bullish on $BTCUSD.