Bitcoin’s (BTC) price has been consistently rallying in the past few weeks, reaching its latest new high of around $57,500 on Feb. 20.
The week has seen more bullish news such as the first German listed company allocating its cash reserves to BTC as well as the launch of the first Bitcoin ETF in Canada, which traded over $220 million in its debut.
Just for a day
— Elon Musk (@elonmusk) February 19, 2021
Such news is fueling the price of Bitcoin while Elon Musk has also embraced the latest “laser eye” meme to the joy of hodlers who are itching for a $100,000 BTC price. However, the next major point of interest is at around $63,000 and this could be reached relatively soon if Bitcoin can hold above a few key support levels.
Bitcoin continues rally by holding critical levels XBT/USD 4-hour chart. Source: TradingView
The 4-hour chart for Bitcoin shows a clear upward path since it