BTC: Is Anything Different?
I’ve stayed quiet for a while, not because I had nothing to say, but because I’ve been repeating myself. The Fear and Greed Index is back up to 73, showing that greed is in the market. BTC is just above $68k, and excitement is building, but something feels off. As of now, BTC is at $67,827.
I’ve mentioned before that the $68k to $72k range is a supply zone, meaning investors are selling at these prices. Based on the current market cycle, BTC is likely to reach $70k, but expect a drop after that. One reason for this is that short liquidations are likely around the $70k level.
To sum up, BTC won’t take off until it breaks past $72k. Once that happens, we could see it reach $74k, then $77k. As for the ultimate target, I believe BTC could reach just over $120k. Some predict higher, but $120k seems more realistic. While it’s exciting, we’ll have to wait and see.
