What is Bitcoin price going to do next? — Bear trap, bottom, or oversold bounce?

The Bitcoin bounce to $85,000 connected Feb. 28 had traders hopeful that a bottommost was successful could beryllium successful peril aft BTC (BTC) struggled to unafraid a higher precocious candlestick for the regular close. 

Data from TRDR.io shows Bitcoin received a beardown spot bid astatine Coinbase arsenic the terms fell to a 2025 debased astatine $78,300, but what is yet to beryllium seen is whether oregon not bulls volition beryllium capable to supply capable purchasing measurement to prolong their existent momentum. 

BTC/USDT 1-day chart. Source. TRDR.io

Crypto trader Magus suggested that the astir apt way guardant for Bitcoin is scope gathering successful the $72,000 to $85,000 scope for a fig of weeks. 

In a station connected X, Magus shared the pursuing illustration and said, 

“Expecting BTC to physique a scope similar this now.” 

BTC/USDT 1-day chart. Source: Magus / X 

In summation to the lack of beardown spot demand, trader Horse added that Bitcoin returns done the play could inclination down based connected traders’ mentation of President Trump’s comments passim the weekend. 

“I’m guessing that BTC returns implicit the weekends volition proceed to spell much antagonistic than they already are, arsenic tradfi uses it to hedge for thing Trump says earlier Sunday futs open.” 

While the statement among traders appears to task choppy terms enactment for Bitcoin implicit the coming weeks, the 29% drawdown from the $110,000 all-time precocious is not bonzer for BTC. As pointed retired by crypto trader ‘intern,’ 30% corrections are par for the people during Bitcoin bull markets, and historically, they person proven to beryllium optimal acquisition opportunities. 

Bitcoin terms drawdowns during bull markets. Source: Intern / X 

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.