Everything is going right for bitcoin at the moment.
- The US dollar is weakening on questions about unsustainable debt
- There is wide and broad political instability, with the US and China in a trade war
- Risk appetite is good with the Nasdaq steadily recovering from Liberation Day
What I really want to highlight though are the technicals, as bitcoin follows them as well as any asset. We’ve now broken definitively above the double top from Dec-Jan and it’s all clear skies above. Retail traders appear to be going wild in stock markets, buying every dip so that should ensure plenty of fuel for crypto.
From here you just look for the big round numbers with $115K and $120K on deck.
This article was written by Adam Button at www.forexlive.com.
