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A massive whale has withdrawn 3,501 $BTC ($221.39M) from Binance over the past 3 days.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