BTCUSD is testing 64K quite a bit faster than everyone expected back in January-February. The strong distribution is once again transitioning into consolidation. At the moment, intermediate and global targets are 64900, 67800 and 69000.
GV – Reserve’s Bank Term Funding Program (BTFP) will sunset as planned on March 11, ending a program that helped calm the markets after last year’s collapses of Silicon Valley Bank and Signature Bank threatened a broader financial crisis. Bitcoin is scheduled to “halve/split” in April. The last time that transpired the not yet viable non-asset backed digital instrument doubled in price. Investors should not look at BTC as an inflation hedge, but rather as a hedge against monetary debasement perhaps. Personally, I am not jumping in at these levels in BTC.
BTC (Bitcoin) relentless rise is now within spitting distance of its 68861 record high
THE SHARP MOVES UP IN GOLD AND BTC WHILE THE FOREX MARKET IS ON THE SIDELINES IS NOT A VOTE FOR FIAT CURRENCIES.
With that said, it is hard to suggest trading BTC from here as there should be no interest in standing in front of the BulletTrain but now dependent on the record high being taken out to move even higher.
Love your attitude and style Bobby, nicely done. Understanding we could eventually see new highs, for now I may test the sell side around the upper area of the 0870 region soon.