BITCOIN → Rally stop. When do we reach $69 000 - $70 000?

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BTCUSD

is testing 64K on the background of the rally triggered by the huge buying interest and is likely to enter the consolidation phase again. There is a little more than 10% to the global target, when will we reach it?

The prospects for BTC are quite high as BTC-ETF advertising campaigns, trading volumes, records in ETFs, buying interest in both BTC and BTC-ETFs together continue to gain momentum.

BTCUSD is testing 64K quite a bit faster than everyone expected back in January-February. The strong distribution is once again transitioning into consolidation. At the moment, intermediate and global targets are 64900, 67800 and 69000.

Strong support zones are the 50-52K zones and the places where strong lines are crossed. Based on market data, a huge amount of BTC was bought here, which makes this area an intermediate market bottom.

Also worth noting is the 59K-60K support, similarly, there has been huge buying in this area, which also identifies this area as an intermediate bottom and strong support.

As for local prospects.

The 64K-60K range is being formed. This range plays the role of consolidation while the price is restrained by its borders. On the background of price stoppage after strong growth, GBTC outflows increase again, some resistance area is formed, as well as strong liquidity below the local lows.

While the price is in consolidation, all these areas of liquidity will be liquidated, the price may test the support of 61K, 60K, 59500, as well as 0.236 fibo or even 0.382 fibo. Inside this range, between 64-60K, it is not worth to open trades, the best choice will be strong support areas.