Bitcoin (BTC/USD) hourly chart
The cryptocurrency is now roughly 3% away from a fresh all-time high above $69,000 amid the sharp rebound today. After briefly breaking its 2021 high of $69,000, we saw price come tumbling down to a low of $59,000 yesterday. Buyers were firm on defending the $60,000 mark and are more than proving their conviction today.
The price of Bitcoin is now up a little over 6% on the day to above $67,000.
The mood music and momentum does suggest we’re going to scale much higher before getting to any sharp and deep correction perhaps. Personally, I call at least $85,000 before a drop back to $40,000 at some point this year. But at this stage, your guess is as good as mine. Everyone is just throwing darts at the board and picking a random number with their calls.