BTC to new ATH around 67K. Fasten your seatbells

Bitcoin is looking pretty strong and seems to be on its way to the extended Fibonacci 1,618 which is at $67397. 4 days ago BTC did a nice retest on the trend line which also had confluence with the supply zone. Looking at the ema's they are in the direction of the bulls and the rsi is in neutral territory above the 50 level and above the ema.

daily chart: 

After breaking the yellow downtrend line there has been a nice retrace into the golden pocket. After which the price is on its way back to ATH at $61781. If Bitcoin manages to flip the supply zone created at the ATH then the new ATH somewhere around $67400 does not seem to be long in coming.

The ema's are bullish and momentum is slowly picking up. The rsi is moving against the 70 level and has just shown a very strong bounce from the ema.

4h chart:

Last hour was a decent bearish rejection on the supply zone. A small retrace to take a run-up is not so crazy at all. At the 15m level we can set a Fibonacci. The golden pocket is then located at 60262 - 60470 which logically could be a nice entry.

1h chart:

I am actually very bullish on BTC and expect that it will not take very long before Bitcoin starts moving towards the 67K. Levels that are important in my opinion are the 58K as support and the ATH as resistance. If support is broken we can still safely drop into the supply zone up to $55500. If the ATH is broken, we will quickly establish a new (temporary) ATH somewhere around 67K.


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Technical analysis by Mr. Coingrats
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