Bitcoin broke out of a multi-year base back in November and surged rapidly from $70K to $100K, hitting my initial target in a matter of days.
Fast forward to today, and it has been consolidating within a tight range, digesting gains just below the key psychological level of $100K.
This level is also the 161.8% Fibonacci extension from the 2022 bear market.
Earlier this week, BTC quickly dipped below support and then reclaimed it, trapping the bears as price reversed higher. It’s booked several bullish follow-through days since.
With the bulls proving themselves and BTC above $100K, I think a fresh leg higher could be around the corner.
The next target is around $155K.
See you there.
We just bought call options on two BTC miners as part of our Breakout Multiplier strategy.
