BTC: Are We There Yet?
The Fear and Greed Index is at 77, indicating the market is in a state of greed. While this is not surprising considering the massive price rise, we must exercise caution and not get too excited. In my last posts on Bitcoin, I posited that the price needs to break $72k and then $74k. Yesterday, we saw the price of Bitcoin hit $73600. We got close and then dipped a little. As of the time of writing, the price was $72372.
However, we must keep potential liquidation zones in mind. Observing the Coinglass charts, there’s a notable liquidation level of $73,095. As mentioned, the supply zone remains between $68,000 and $74,000, aligning this liquidation zone within that critical range.
I still believe BTC will break $74k and go on to a much higher price, but as to when this will occur, your guess is as good as mine.
