Bitcoin Traders Split Between $70k Crash And BTC Price Rebound...

Bitcoin price expectations diverged into the weekly close as $150,000 targets met calls for a drop to levels not seen in over a year.

Bitcoin (BTC) circled $88,000 on Sunday as traders braced for fresh volatility into the weekly close.

Bitcoin market participants have mixed views over short-term BTC price action with the market stuck below $90,000.

Six-figure BTC price forecasts contrast with preparations for a return to $70,000.

Binance inflows are among the causes for concern, says analysis.

Data from Cointelegraph Markets and TradingView showed modest moves in a defined weekend range for BTC/USD.

The pair traded within a $5,000 corridor for its eighth day, and the trading community increasingly saw a breakout attempt coming next.

“$BTC relief rally could happen soon,” crypto analyst and entrepreneur Ted Pillows wrote in part of his latest analysis on X.

An accompanying weekly chart compared relative strength index (RSI) bearish divergences now and through 2021, the final year of Bitcoin’s last bull market.

Pillows added that buyer pressure needed to stop the 100-week exponential moving average (EMA) crossing below its equivalent simple moving average (SMA).

Source: CoinTelegraph