Many people have privately messaged me asking about BTC. Currently, my view (today's market) is that BTC is showing strong upward momentum, driven by institutions continuously buying ETFs, which boosts buying pressure, along with short sellers being forced to cover (fuel). Additionally, there have been several positive news stories recently that continue to ferment, providing overall support for the bulls.
The long-to-short ratio indicates that many people are still chasing shorts, so the price will continue to rise. I used the bullish flag pattern to identify target prices, and I see Bitcoin potentially reaching 120,000. Everyone can keep an eye on this (just my personal opinion).
However, please note that this is definitely not a signal to short at 120,000! Wait until the price reaches that point, then assess the direction. Don't think about speculation.
$BTC
