Bitcoin Price Prediction: Can BTC Reach $80k in the Week Ahead?
Bitcoin bears could capitalize on investors’ skittish disposition to attempt a price downswing in the near-term.
Bitcoin Price Prediction: More Consolidation before $75,000 Breakout
Based on the current social sentiment dynamics, there appears to be a short-term pessimism among Bitcoin investors. This suggests that a pullback toward $60,000 is more likely than an advance towards $80,000 in the near term.
Historical accumulation trends that BTC can find significant support above $65,000, especially if the market demand surges when Bitcoin ETFs trading session opens on Monday, March 11.
IntoTheBlock’ In/Out of the Money chart shows that 441,360 addresses had acquired 345,110 BTC at the average price of $65,290. If this major cluster of holders defend their positions, BTC can avoid a major downswing.
But if that support level gives way, a detour towards $60,000 could be on the cards.
