Crypto: Bitcoin holds $80K into weekly close as traders say BTC price dip not yet over - Full Analysis

Crypto: Bitcoin holds $80K into weekly close as traders say BTC price dip not yet over - Full Analysis

Bitcoin avoided a weekend drop as $80,000 stayed in place, but traders saw BTC price action dipping below before continuing higher. Bitcoin (BTC) eyed $81,000 into Sunday’s weekly close as traders saw a fresh support retest next. Data from TradingView showed BTC price action trending higher after a mostly flat weekend, avoiding a return below $80,000. BTC/USD one-hour chart. Cointelegraph/TradingView After a midweek trip to near $83,000 failed to hold, however, traders saw the need for BTC/USD to retest support — something that they now reiterated. Of particular interest was the bull market support band — two moving averages just below the $80,000 mark. “On the low-timeframes, after rejecting at the high-timeframe resistance range marked in purple, I believe the most likely outcome is a short-term pullback toward the 2D Bull Market Support Band, which has been a strong reversal zone over the last couple of months,” analytics account Cryptic Trades wrote alongside a chart in its latest post on X. Trader Daan Crypto Trades agreed, calling the initial move above the support band “not a clean break.”

Source: CoinTelegraph