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Bitcoin is trading within a range that resembles past market structures, though traders say the eventual outcome may not follow the same path, according to trader Trader Mayne.
In a March 31 podcast, Mayne said Bitcoin could see a short-term relief rally toward $80,000. However, he maintained an overall bearish bias unless key resistance levels are reclaimed.
Mayne noted that market sentiment often flips in ways that can be misleading—becoming bullish at highs and bearish at lows—creating conditions for potential “traps” on both sides of the market.
While he pointed to factors that could support a temporary advance, such as the market being in the lower part of the range and liquidity sweeps, he also cited conflicting indicators. As a result, he said there is no clear, high-confidence trade setup.
With mixed signals and limited conviction, Mayne said he is largely staying in cash and focusing on capital preservation. His broader view is that Bitcoin has not yet bottomed and could see lower prices later in the year, potentially around Q4.
In an X post on March 31, CryptoQuant highlighted Bitcoin’s Realized Price of around $54,000 as a historically important “value zone.” The data suggests these periods have often represented some of the best long-term buying opportunities for investors.
CryptoQuant said that if the price falls to $54,000 or below, those periods are typically favorable for spot buying and accumulating Bitcoin gradually. At that level, it added, “Bitcoin is cheap compared to market average.”
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