Bitcoin has risen in value by about $20,000 since early February. That is an extraordinary run, although almost typical for an instrument as volatile as BTC. Take careful note of the price in relationship to the exponential moving averages, particularly the 200-day (in green).
The key price level is approximately $81,000. Cross above it, and there’s probably more room to run. Fail to do so, and a renewed fall could be in the cards for BTC, pushing it toward my long-term price goal of $35,000.
Also take note of the ETF dedicated to Bitcoin (one of many!) which is IBIT. There is a price gap at 46.37. The closer we get to that (without crossing it), the more compelling a short sale this becomes.
