Bitcoin’s consolidation is ‘normal’ — Analysts set $80K BTC price target
Bitcoin (BTC) bulls are still hoping for a major breakout but at the moment, bears are applying pressure and keeping the digital asset pinned below $61,000.
Data from Cointelegraph Markets Pro and TradingView shows that an early morning breakout by bulls to make a run above $62,000 was met with a strong defensive line from the bears who handily rejected the attempt.
Here’s a look at what traders and analysts are saying about Bitcoin's current price action and what they expect in the short term.
While some traders may have found themselves bored with Bitcoin's sideways price action, independent market analyst ‘Rekt Capital’ recently posted the following chart highlighting the fact that BTC has flipped a major resistance level into support.
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