BTC: Is the $80K next?Bitcoin / U.S. dollarBITSTAMP:BTCUSDXBTFXWith the peace talks and opening of Strait of Hormuz, investors showed a moment of relief, with a modest optimism that the inflation is not going to take its higher grounds and that the Fed might cut interest rates at least once during the course of this year. During the week equities rushed to new highest levels, while the crypto market also felt some signs of this optimism. BTC finally managed to make this breakthrough from the $70K - $60K range and pass the $75K levels. BTC started the previous week modestly above the $70K and finally made a clear path toward the $78,9K. This move was significant because it finally opened a further path toward the $80K current short term resistance. BTC is closing Saturday trading modestly above the $76K, but it is more like a profit-taking move, rather than a reversal path. The RSI reached the 66 level, but the clear overbought market side has not been reached. Positive is also that MA50 started its modest convergence toward the MA200, but the cross is still near. There is a distance between two lines, which could be crossed in the near term period. As previously noted, the $80K is now pending testing. This is the next short term resistance line, which was last tested in February this year. At this moment, with the still unstable geopolitical situation, it is questionable whether BTC will have strength for the next move toward the $85K. Certainly if the market makes a move above the $80K then we can expect that the $85K will be tested next. The profit taking could also further slow down BTC, but not too much, probably somewhere around $74K or $73K, but expectations are that the $70K should and could hold.