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Analysis: BTC May Test $80,000; Retest of the 200-Week Moving Average Could Become New Resistance
Svmuu News: Market data shows that the price of Bitcoin has risen above the 200-week exponential moving average (EMA), currently at $68,338. Rekt Capital analysis indicates that Bitcoin is facing resistance at this trend line, and the latest rebound could evolve into a "breakdown followed by an EMA retest to confirm new resistance."The market is watching the liquidity-dense zone above $72,000, anticipating a potential “liquidity sweep.” If bulls successfully reclaim the key moving average and confirm it with a weekly close, $80,000 could become the next target price.AlphaBTC analysis states: “The liquidity hunt for Bitcoin has only just begun; should new bearish catalysts emerge, we expect higher price levels to be tested in the coming weeks.” (Cointelegraph)
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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