BTCUSD: A healthy correction. $250000 isn't at all unrealistic.

Bitcoin remains overbought on the 1W timeframe (RSI = 81.582, MACD = 8133.500, ADX = 73.810) despite the recent pullback. On a Cycle basis, this has been nothing but a healthy correction, typical of Bitcoin when it crosses over its ATH. Being overbought on the 1W RSI has been a very bullish attribute during the parabolic rallies of the Bull Cycles and there is no reason to expect anything different this time around.

Last time BTC rose from the prior ATH to the new by +256%. A repeat of that gives as 250,000 target. Ahead of the upcoming Halving in April where the supply is again cut in half, such a target doesn't seem unrealistic now, if the ETF demand stays unchanged. It rose almost +90% since the ETF approval, why shouldn't it accelerate by double if BTC's supply is cut in half?

Stay focused and stay bullish.

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