BITCOIN TARGETS 70000$ - BTC BULLISH MOMENTUM IS RISING
2024-10-27

Bitcoin recently broke and closed above the massive diagonal trendline that had been driving the weekly bearish trend since March 2024. This weekly breakout and close above the trendline gives me strong confidence that a bullish weekly momentum has begun.

After the breakout, Bitcoin retraced into the weekly demand zone and showed a strong rejection.

During this retracement, it also ran the daily swing liquidity and attempted to close below for six consecutive days. However, buyers defended the daily swing level strongly. This indicates that Bitcoin is likely aiming higher, with the first target set at $70,000.

Other targets can be seen on the chart as well, and I’ll be watching these levels, ultimately aiming for an all-time high.

I’m feeling quite bullish about the crypto market at the moment.