FxWirePro- BTCUSD price forecast (Chance of $70000 is high)

Potential reversal zone- $52530.

BTCUSD hit multi-month high on upbeat market sentiment. It hit a high of $65991 at the time of writing and is currently trading at around $65439.

BTC ETF-

BTCETF saw inflows of $364.8M on Thursday led by Blackrock IBIT added 5873 BTC, According Spot On Chain data.

Whales Bitcoin accumulation-

A massive whale has withdrawn 3,501 $BTC ($221.39M) from Binance over the past 3 days.

The whale just began the 4th  Bitcoin accumulation wave 15 minutes ago. 

Current holdings - 4062 BTC.

US markets -

 NASDAQ (No correlation with BTC) - Bullish  (neutral for BTC). The NASDAQ holds above 20000 ahead US PCE data. Any close above 20000 will take the index to 20500.

 Technicals-

BTCUSD trades above the short-term moving average 34- EMA and 55 EMA and the long-term moving average (200 EMA) in the 4-hour chart.

Minor support- $60000.  Any break below will take it to the next level at $57000/$55000/$52500/$50000/$46000.

 Bull case-

Primary supply zone -$67000.  Any break above confirms a intraday bullishness. A jump to $70000 is possible.      

  Secondary barrier- $70000. A close above that barrier targets $750000/$80000.

Indicator (4-hour chart)

CCI (14)- Bullish

CCI (50)- Bullish

Average directional movement Index - Bullish

It is good to buy on dips around $62700 with SL around $60000 for TP of $70000.