An increase of approximately 11.5% in BTC in 24 hours… WOW… But where is he going to go now?
Unfortunately, it is impossible to see the future. We had nevertheless put forward the hypothesis of an increase from $7,100 to $7,500. But an increase to $7878 was difficult to predict.
I advise you to be vigilant and not FOMO when you see a BTC climbing at this speed.
BTC is currently at the 7800$ level. Based on the technical indicators, it would appear that the price could fall. But in a trend like this, technical analysis is less relevant than traders’ psychology.
As we write these lines, the price increases further, if the buying power remains massive, we could see the price rise to a psychologically attractive price, the $8,000. If this level is reached, we could expect a drop that would just mean a recovery of profits. But does that mean that the price will go down below $7,000?
The big holders have an interest in seeing the BTC go much higher.
So it will be interesting to see the price reaction if the $8,000 level is reached. Because if this level is broken, then it would be time to really think about the bull run and think about higher targets for the long term.