BTC to 75K?
A nice trading channel has formed over the past few months where it has consistently made 3 highs: 42k, 58k, 61k. I do believe that it would continue to break highs and respect this trading channel despite the volatility of crypto, however, BTC undeniably huge, and the likely hood of it crashing to lows similar to 2017 is very unlikely. Fun fact: BTC market cap is larger than Sweden's and Denmark's GDP combined, so if you think that a currency more valuable than 2 countries combined would crash I have to say you are mistaken. BTC has broken ath res, however, it is struggling to keep it up, it is rather choppy. however I do believe if the Fed increases interest rates rapidly BTC will skyrocket as people lose trust in the dollar and invest in BTC, also looks on track, do expect it to bounce around the 50-63k mark. I Will be doing updates
Note
As we can see that it has broken the very well respected trading channel, however lets see if it would retest back into the channel for fall to one of its supports around 51k or even 48k
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.