Bitcoin Price Prediction: Expert Eyes $80,000 Retest Despite BTC Reaching $93,000

Key Insights:

• A top crypto analyst shared the possibility of a $80,000 level retest in a recent Bitcoin price prediction.
• CrypNuevo said that Bitcoin’s price is unlikely to recover immediately from current levels.
• CoinGlass also released its latest data showing crypto short liquidations reached $250 million in 24 hours.

A top crypto analyst shared the possibility of a $80,000 level retest in a recent Bitcoin price prediction, sparking speculation. The BTC USD prediction comes despite the crypto breaking above $93,000 for the first time in a month.

The recent pump is the highest rebound in weeks and can be attributed to the rising geopolitical tensions. At the time of writing, traders and market watchers are both optimistic and cautious at the same time as they brace for a drop towards $80,000 before the start of any lasting bullish rally.

As such, the majority of traders perceive the recent surge as a tentative price action rather than a clear sign of momentum and strength.

The silver lining is that major technical signals started to improve with Bitcoin’s 4-hour price chart approaching the formation of a golden cross.

Bitcoin Price Prediction: Will the Breakout Hold or Fall Below $80,000?

In a recent Bitcoin price prediction, a market watcher shared the possibility of the BTC USD pair retesting the $80,000 lows before it can print any meaningful gains. The price prediction surfaced just after the Bitcoin price soared by 5.53% over the last five days.

One particular top trader and analyst on X, CrypNuevo, said that BTC USD price is unlikely to recover immediately from current levels.

He compared the current market action to October 2019, suggesting that Bitcoin will continue to target nearby liquidity on exchange order books.

CrypNuevo noted that the market structure looks almost identical. In 2019, the price first ran through liquidity, then dipped to sweep the lows before staging a strong rally. He expects a similar pattern could play out this time.

That scenario would push Bitcoin price below $80,000 for the first time since April.

What’s Next for BTC USD Price?

On the way down, traders are watching two gaps in CME Group’s Bitcoin futures market as potential support targets: between $90,500 and $91,600, and $88,200 and $88,800.

CoinGlass also released its latest data showing crypto short liquidations reached $250 million in 24 hours. Traders piled liquidity into the weekly close, eyeing $93,700 as the next upside target for Bitcoin bulls.

Keith Alan, cofounder of trading platform Material Indicators, noted on X that further price action could be even more interesting. A previous “wall” of sell orders at $100,000 has disappeared, removing a key resistance point.

Alan highlighted increased buying from smaller Bitcoin whales, signaling that momentum may be shifting. He told X followers that this could mark the start of a more dynamic phase in the market.

Bitcoin Price Is Forming a Golden Cross

Bitcoin’s 5% rebound may look modest, but it could signal a shift in the market. In addition, the 50-period simple moving average (SMA) is almost to cross above the 200-day SMA on the four hour BTC price chart. This suggests a possible reversal of October’s death cross and signals massive potential for a bullish rally.

However, on the daily chart, a golden cross is still a distant possibility, following a death cross that appeared just a month later.

Looking at the longer term, trader SuperBro points to another set of trendlines that are turning bullish. The weekly 100-period SMA and EMA are both flipping green, suggesting stronger momentum.

SuperBro noted that in previous bear markets, the 100-week EMA crossing below the 100-week SMA marked the start of major Bitcoin price declines. In the past, these signals often came before crashes of more than 50% within just a few weeks.

This time, however, the market seems to be moving differently, suggesting the current cycle could play out more slowly.