$BTCUSD - Just my vision of the next target at $70K

Hi guys! 👋🏻

🔔 Weak CPI data weakened the DXY and supported the further growth of Bitcoin against the US Dollar

🔔 he total amount of Bitcoin locked in DeFi according to the data from the analytics website hit new ATH today with 178,603 BTC, and the total value of BTC in DeFi for the first time ever exceeded $10 Billion.

🔔The impulse wave of February 28 continues as Bitcoin approaches the all-time-high. As it seems from the wave formation of the BTC/USD price, Bitcoin might not stop at $60 and reach $62,000 and $63 200 when overstepping the ATH.

🔔 The daily BTC/USD chart looks more positive in terms of spotting the next strong resistance of Bitcoin.

🔔 If we juxtapose the correction and a further growth of Bitcoin from January 8 until February 21 and the correction from February 21 and the evolving impulse wave of Bitcoin, applied inside a parallel channel which the price follows, then the most obvious heavy resistance of Bitcoins price lies slightly above $70K.

🔔Though the assumption of such growth remains theoretical, it is worth claiming that Bitcoin has entered the new bull cycle. The evolving DeFi market, growing number of companies that add Bitcoin to their holdings support the hike of Bitcoin’s price.

✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.