BTC: The crypto king is back and aiming $70000

Since November 9, 2021, the crypto king BTC has lost its ground, maintaining its trendline resistance. But last week, BTC broke and stabilized above the trendline resistance level and finally found its support.

How long BTC can rise. Technically it has significant room and scope to go up. BTC has room to test the $70000 price zone in the next couple of months from the current situation and worldwide economic turmoil.

From the present price zone, our initial target is $45300. Breaking and stabilizing above $45300, our next target is $52000/52200. We may see some minor corrections from $52000. But if BTC can break above $5200, it will open the door for a $59000/60000 price zone very soon. And final target to the upside is $70000 in the next couple of months.

On the other hand, from the current market situation, $40000 is first support, and 2nd support is identifying nearly at $36500 price zone and strong support $30000. I don't think BTC will break below $30000 without any significant reason.

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We have updated our crude oil analysis..

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We ave updated our BTC chart and analysis