BTC Rally to $80,000 Could be Curbed by Negative Events
Bitcoin (BTC) has surged by another 6.6% this week, reaching $73,753, marking its third consecutive all-time high within this week alone. From a technical perspective, BTC has demonstrated significant upward momentum and is expected to continue climbing.
The cryptocurrency has also retested a support level at $70,000, which serves as a robust indicator of further upside potential. As a result, prices are now aiming towards the $80,000 mark. However, there are concerns regarding whether the rally could be halted at this point. The overbought conditions in Bitcoin are exceedingly high, meaning that any series of negative events could potentially put a damper on its upward trajectory.
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