As per expectations $BTC has shown a strong reaction from 68k levels and is now trading above 70k. Many were expecting it to take a dip due to choppy price action throughout the weekend, but as always it played out against their expectations.
As mentioned in my last post, I am viewing this as the early signs of a supply shock in $BTC . If it holds above 70k strongly, we can expect it to hit a new ATH, and may also enter into the price discovery phase in few days time. Having said that, a reaction above 72k would be worth observing as FUD kicks in at high price levels, which has a potential of literally killing the bullish momentum. In other words, nobody wants to be the one making the last purchase at an ATH only to be left waiting for years to sell in profit.
This is not a financial or investment advice, do your own research and take decisions at your own risk. I take no responsibility for any losses incurred to the readers.