👀 $BTC on the brink: Could we see a soar to $79K soon? - AMBCrypto Analytics

Renowned crypto analyst Ali Martinez brings a fresh perspective to Bitcoin’s future with his latest technical analysis.

Utilizing the MVRV Extreme Deviation Pricing band chart, Martinez points out that BTC is near the +0.5 Standard Deviation (σ) pricing band at $66,800. 

This positioning suggests a potential rise to the 1.0σ pricing band, which could see Bitcoin escalating to around $79,600. His analysis hinges on Bitcoin’s ability to maintain its current level, setting the stage for a possible significant increase.

Echoing Martinez’s optimistic outlook, another prominent figure in the crypto trading community, MMCrypto, has taken to X to voice his predictions.

He posits that BTC could either climb to $74,000 or drop to $62,200, dependent on market movements in the coming days. 

His predictions are accompanied by a chart illustrating a pivotal triangle pattern. According to MMCrypto, this pattern is due to resolve within 48 hours, suggesting imminent significant price movement.

Technical analysis of BTC’s daily chart reveals that the asset has recently encountered a major supply zone after breaking downward structures.

This encounter at a critical resistance level may dictate Bitcoin’s short-term price trajectory. If Bitcoin can breach the $72,000 mark, surpassing the previous lower high, it could invalidate bearish forecasts and signal a strong bullish trend.