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Institutional Fever: Is Bitcoin Gearing Up for a Historic 80,000 USD Run?

BTCUSD  jumped more than $5000 yesterday as institutional demand increased.  It hits an high of $74100 and is currently trading around $73175.

 

Technicals

CMP -$73118

Trend

4- Hour chart

Value

 

 

55 EMA

$68220

CMP > 55 EMA

Bullish

200- EMA

$71196

CMP >200- EMA

Bullish

365- EMA

$76288

CMP >365 EMA

Bullish

Major support- $64000/$60000/$52500/$50000. Major bullishness only above $76300

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

192.85

ADX

Bullish

 Strength increased from 21.70 to 23.45

It is good to buy on dips around $70000 with SL around $67000 for a TP of $76250/$80000.

 

 

 

 

 

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