Will Bitcoin Price Crash Below $80,000 or Rebound to a New ATH?
The post Will Bitcoin Price Crash Below $80,000 or Rebound to a New ATH? appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) has been on a wild ride, recently experiencing a sharp drop before bouncing back above $90,000. After reaching an all-time high (ATH) near $110,000, BTC has struggled with increased selling pressure, leading to a pullback that tested the $80,000 support level. With BTC price now hovering around $91,000, traders are left wondering—will Bitcoin crash below $80,000, or is this just a temporary correction before a new ATH rally? Let’s analyze BTC’s key levels, indicators, and potential price movements to determine the most likely scenario. Bitcoin Price Prediction: Is Bitcoin Forming a Bullish Rebound? BTC/USD Daily Chart- TradingView Bitcoin’s price action suggests that $80,000 has acted as a strong support level, with buyers stepping in aggressively to prevent further downside. The latest bounce above $90,000 indicates some bullish recovery, but BTC still needs to break above $95,000-$97,000 to confirm a reversal. If Bitcoin maintains its momentum and closes above $95,000, it could signal a shift toward a renewed bullish phase, with the next key resistance near $100,000-$105,000. However, if BTC fails to reclaim these levels, it may face another drop back to $85,000 or lower. What Do RSI and Other Indicators Suggest? The Relative Strength Index (RSI) is currently at 47, indicating that BTC is neither overbought nor oversold. However, just a few days ago, RSI dipped into the oversold region below 30, which triggered the recent price bounce. If RSI climbs above 55-60, it would indicate strengthening bullish momentum, potentially pushing BTC toward $100,000. On the other hand, if RSI drops back below 40, it could suggest another wave of selling pressure. The Heikin Ashi candles are showing a slight shift in trend, with green candles forming after a series of strong red ones. If BTC can sustain this bullish momentum, we may see a continued recovery in…
Filed under: News - @ March 6, 2025 10:27 am