Bitcoin has struggled to have a solid breakout past it's April 2021 ATH.
Lack of momentum has been evident however this does not point to end of cycle.
It rather seems
BTCUSD
needs several weeks of sideways price action with few downside wicks to shake off derivative investors and pick up steam to finally have a solid breakout past $70k.
Weak monetary policy, global inflation and
BTCUSD
adoption by big tech could fuel the final part of this bull run putting us past 200k somewhere between Q2 - Q3 2022.
Lack of momentum has been evident however this does not point to end of cycle.
It rather seems
BTCUSD
needs several weeks of sideways price action with few downside wicks to shake off derivative investors and pick up steam to finally have a solid breakout past $70k. Weak monetary policy, global inflation and
BTCUSD
adoption by big tech could fuel the final part of this bull run putting us past 200k somewhere between Q2 - Q3 2022.