Caught in the middle of the conflict between optimistic bulls and cautious bears, the Bitcoin (BTC) price hovers dangerously around $67,000 as the weekend approaches. This week has seen BTC maintain its gains, currently up over 10% monthly. But the path forward remains uncertain and key resistance levels loom large.
Bitcoin price rose: What do analysts expect?
Analysts are examining liquidity levels, which appear to be concentrated around $67,000 and $70,000. Popular trader Daan Crypto Trades identified $72,000 as the most important hurdle. He noted that although the bulls successfully cleared the $67,400 resistance, key levels remain around $68,000. In X “[…] “This is where the most liquidity lies, starting at ~$72k,” he said. This points to a potential struggle for dominance as Bitcoin approaches this price point.
Looking below the current price, Daan highlights the $60,000 region as the first significant support level, indicating the existence of a potential safety net in case of a price decline. This view is also echoed in the Bitcoin liquidation heat map, which shows liquidity clusters concentrated around $66,500 and $67,800.
Offering a ray of hope, Daan highlights the importance of the 100-day moving average (MA) as a long-term support level. He sees this metric as “a good forward-looking indicator to gauge mid/high timeframe momentum” and suggests it could be a critical factor in determining Bitcoin’s future trajectory.
Rekt Capital: Is a new bull period coming?
Further strengthening bullish hopes, leading trader and analyst Rekt Capital suggests that Bitcoin only needs a 1% price increase to have the potential to trigger a new chapter in the bull market. He examined the daily charts. He then said the following:
BTC only […] In order to ensure the continuation of the upward trend, the Bull Flag needs to make a retest attempt after the breakout.
Possibility of decline to 59-60 thousand dollars
But not everyone shares this optimistic perspective. Another well-known trader, Credible Crypto, offers a more conservative view. He believes the recent rally could be nearing a top, with a retest of the $60,000 level on the horizon, or potentially even lower. “[…] “I think we will see at least the 59-60 thousand region,” he warned. His analysis suggests that the blue zone around $62,000-63,000 may offer temporary support, but could ultimately lead to a bearish reversal.
Credible Crypto also warns that altcoins, known for their higher volatility compared to Bitcoin, could suffer even greater losses if this scenario occurs. “A drop in BTC to $59-60k would mean a 10% drop; “For many altcoins, the corresponding declines will be much larger,” he concluded. This weekend will be crucial for Bitcoin against these opposing forces. Will the bulls manage to surpass the $70,000 resistance and start a new leg of the bull run?
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