Bitcoin $80,000 may be the bottom: 91% probability indicates a rebound is imminent.

Source: TokenPost Original Title: Bitcoin ( $BTC ) 80,000 dollars indicates a bottom signal… “91% probability of a rebound imminent” analysis out Original Link:

Bitcoin Technical Analysis: $80,000 May Be a Key Support Level

Market analysts believe that there is a high possibility of Bitcoin forming a bottom around the $80,000 mark, with multiple technical indicators showing that buy signals have already emerged. Indicators such as the NVT golden cross and weekly surrender model all point to an imminent rebound.

Bitcoin ( BTC ) is experiencing the fastest sell-off pressure since 2022. Well-known anonymous analyst 'Astronomer' pointed out through his analysis that 80,000 USD (approximately 108 million) is likely the bottom, and a price reversal is imminent.

Traders are divided on whether we are at the end of a downtrend or on the eve of a rebound. However, Astronomer's analysis indicates that the probability of Bitcoin not further declining based on weekly closing prices is as high as 91%. This conclusion is based on chart analysis and on-chain data model predictions, reflecting the market's expectation of overcoming the downtrend.

The NVT Golden Cross Indicator is worth noting. According to this indicator, signals of Bitcoin's market value being severely undervalued have been detected, indicating that it is time to consider establishing short-term long positions.

Arthur Hayes, a co-founder of a leading exchange, recently pointed out in his analysis that based on signals of increased global liquidity and recovery in on-chain indicators, Bitcoin's support level may form in the range of $80,000 to $85,000 (approximately 108 million to 115 million yuan).

The astronomer uses his unique weekly surrender volume model for analysis. According to this model, after three consecutive weeks of high volume bearish candles, the market typically turns to a strong rebound. The pattern currently occurring is completely consistent with this.

Overall analysis shows that the panic and despair in the market have reached extreme levels, which can be interpreted as a rebound signal. However, rather than determining a medium to long-term rise, it is better to closely monitor price trends in the coming weeks.

Market Interpretation

The current range is likely to serve as a strong technical support level. The accumulated selling pressure and undervalued signals may trigger a return of short-term buying.

trading strategy

Paying attention to the weekly closing trend and setting the range of $80,000 to $85,000 as the core price indicator strategy is effective.

Terminology Explanation

• NVT Golden Cross: Utilizing the network value ( NVT ) indicator to identify the relative overbought and oversold ranges of assets.
• Surrender Model: A technical analysis indicator to assess the possibility of a rebound after a sell-off caused by excessive panic.