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Bitcoin Price Could Rally To $80,500, But Here’s What Needs To Happen
The post Bitcoin Price Could Rally To $80,500, But Here’s What Needs To Happen appeared on BitcoinEthereumNews.com. According to a popular crypto analyst on the X platform, the Bitcoin price might be primed for a fresh rally beyond its current all-time high. However, the analyst has identified a crucial resistance level that could determine the fate of the flagship cryptocurrency in the short term. $67,300 Could Prove Pivotal To BTC’s Price — Here’s Why In a new post on X, prominent crypto pundit Ali Martinez has put forward an exciting projection for the price of Bitcoin over the next few weeks. This bullish forecast is based on the MVRV (Market Value to Realized Value) Pricing Bands, which allow users to estimate price levels where the market would be at an extreme unrealized profit (high values) or unrealized loss (low values). These price levels are relevant because they signal where certain investor behaviors, such as profit-taking, risk-taking, or capitulating, are most likely to be triggered. Ultimately, the MVRV Pricing Bands metric is a useful indicator in price analysis, especially for identifying cycle bottoms and tops. Source: Ali_charts/X According to Martinez, the MVRV Pricing Bands have pinpointed the $67,300 area as one of the most significant resistance levels for the Bitcoin price. The crypto analyst revealed that flipping this major resistance could set the stage for the premier cryptocurrency to run up to above $80,500. Typically, breaking through this resistance level is not only indicative of a strong bullish momentum but could also trigger fresh buying from both retail and institutional investors. In a separate post on X, Martinez revealed a pivotal signal that could reveal when the Bitcoin price returns to bullish territory. According to the crypto pundit, BTC could be resuming its bull run following a golden cross between the MVRV ratio and its 365-day simple moving average (SMA). A golden cross refers to a bullish signal…
The post Bitcoin Price Could Rally To $80,500, But Here’s What Needs To Happen appeared on BitcoinEthereumNews.com.
According to a popular crypto analyst on the X platform, the Bitcoin price might be primed for a fresh rally beyond its current all-time high. However, the analyst has identified a crucial resistance level that could determine the fate of the flagship cryptocurrency in the short term. $67,300 Could Prove Pivotal To BTC’s Price — Here’s Why In a new post on X, prominent crypto pundit Ali Martinez has put forward an exciting projection for the price of Bitcoin over the next few weeks. This bullish forecast is based on the MVRV (Market Value to Realized Value) Pricing Bands, which allow users to estimate price levels where the market would be at an extreme unrealized profit (high values) or unrealized loss (low values). These price levels are relevant because they signal where certain investor behaviors, such as profit-taking, risk-taking, or capitulating, are most likely to be triggered. Ultimately, the MVRV Pricing Bands metric is a useful indicator in price analysis, especially for identifying cycle bottoms and tops. Source: Ali_charts/X According to Martinez, the MVRV Pricing Bands have pinpointed the $67,300 area as one of the most significant resistance levels for the Bitcoin price. The crypto analyst revealed that flipping this major resistance could set the stage for the premier cryptocurrency to run up to above $80,500. Typically, breaking through this resistance level is not only indicative of a strong bullish momentum but could also trigger fresh buying from both retail and institutional investors. In a separate post on X, Martinez revealed a pivotal signal that could reveal when the Bitcoin price returns to bullish territory. According to the crypto pundit, BTC could be resuming its bull run following a golden cross between the MVRV ratio and its 365-day simple moving average (SMA). A golden cross refers to a bullish signal…
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