Bitcoin Finds Strength Near $68K Even As Analysts Predict Sell-off
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Analysts expect Bitcoin’s price consolidation to tilt toward $60,000, but technical charts favor a liquidation rally toward $82,000.
Bitcoin’s (
Bitcoin’s recent strength may defy analysts’ predictions
Bitcoin’s price action since the start of the week conflicts with analysts’ bearish short-term view. BTC has shown strength in the $67,000 to $68,000 range despite oil rallying above $105 on Monday and the overnight military escalation in Iran, casting doubt on the odds of a ceasefire.
If BTC can flip $68,879, which is aligned with the 38.2% Fibonacci retracement level, a rally to $82,000 could be in order. This view is further confirmed by the volume profile visible range (VPVR) gap on the daily chart and BTC/USDT liquidation heatmap data showing short liquidity clusters at $68,500 to $70,000 and $72,000 to $74,000.
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