Analysis: BTC May Challenge $80,000, Retest of 200-Week Moving Average Could Form New Resistance

Odaily According to market data, the Bitcoin price is currently above the 200-week Exponential Moving Average (EMA) located at $68,338. Rekt Capital analysis points out that Bitcoin is being suppressed by this trendline, and the latest rebound may evolve into a "confirmation of a new resistance level after a breakdown and EMA retest." The market is focusing on the liquidity concentration zone above $72,000, anticipating a potential "liquidity sweep" scenario. If the bulls successfully reclaim the key moving average and confirm it with a weekly close, $80,000 could become the next target price. AlphaBTC analysis stated: "Bitcoin's liquidity hunt has just begun. Once a new bearish catalyst emerges, it is expected to test higher price levels in the coming weeks." (Cointelegraph)