After trying to break $69500 - the border of a massive range-bound formation, BTCUSD had retraced to the local support of $68400 = two standard deviations from the breakout line.
If it holds above this level, it might skyrocket towards new peaks, with a possible ambitious target of around $81800 - a161.8% Fibo extension of this trading range.
Sentiment remains bullish for Bitcoin, as it prepares for the final rally ahead of the halving event on April 17th.
The potential reward vs risk represents asymmetrical trading opportunity on the long side.
Manage your risks and trade well1
If it holds above this level, it might skyrocket towards new peaks, with a possible ambitious target of around $81800 - a161.8% Fibo extension of this trading range.
Sentiment remains bullish for Bitcoin, as it prepares for the final rally ahead of the halving event on April 17th.
The potential reward vs risk represents asymmetrical trading opportunity on the long side.
Manage your risks and trade well1