Analysis: BTC May Challenge $80,000, Retest of the 200-Week Moving Average Could Become New Resistance
According to Odaily, market data shows that the price of bitcoin is now above the 200-week exponential moving average, which currently sits at $68,338. Analysis by Rekt Capital points out that bitcoin is being suppressed by this trendline, and the latest rebound may develop into a "post-breakdown EMA retest confirming new resistance." The market is closely watching the liquidity cluster above $72,000, with expectations of a possible "liquidity sweep" scenario. If the bulls successfully reclaim the key moving average and confirm it with a weekly close, $80,000 may become the next target price. AlphaBTC analysis states: "Bitcoin's liquidity hunt has just begun. Once a new bearish catalyst emerges, higher price levels are expected to be tested in the coming weeks." (Cointelegraph)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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