BTC at 70k don't worries me, the real challenge is at this level
Bitcoin continues fluctuating below 70k.
As we mentioned in last week’s analysis, it doesn’t surprise me that Bitcoin crosses 70k; the real challenge is for BTC to surpass $71,890.
If you look at the overall structure, the price made a very significant historic move in MAY and JUNE, which I’ll label as PIVOT 1 and PIVOT 2 (see chart).
To me, that area presents a real challenge to surpass because I detect a lot of institutional liquidity there, so we need to stay alert once the price crosses 70k and reaches this level.
For now, the price has managed to create two candles with strong buying pressure, so I think Bitcoin will have a few good days, but it will continue to fluctuate below 70k until we see solid buying volume.
Thank you for supporting my analysis.
TRADE SAFE!
Best regards!
As we mentioned in last week’s analysis, it doesn’t surprise me that Bitcoin crosses 70k; the real challenge is for BTC to surpass $71,890.
If you look at the overall structure, the price made a very significant historic move in MAY and JUNE, which I’ll label as PIVOT 1 and PIVOT 2 (see chart).
To me, that area presents a real challenge to surpass because I detect a lot of institutional liquidity there, so we need to stay alert once the price crosses 70k and reaches this level.
For now, the price has managed to create two candles with strong buying pressure, so I think Bitcoin will have a few good days, but it will continue to fluctuate below 70k until we see solid buying volume.
Thank you for supporting my analysis.
TRADE SAFE!
Best regards!
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