Bitcoin Price Continues to Trade Above $80,000, Is It the Right Time to Buy?

• Bitcoin price continues to trade above $80,000.
• Is it the right time to buy into the crypto market?
• Analysts say more patience could deliver higher gains.

The crypto community is thrilled to see the price of Bitcoin (BTC), the pioneer crypto asset, trade above the $80,000 price range. This has also led to altcoin assets surging and trading at higher targets. For instance, the price of Ethereum (ETH), the pioneer altcoin asset, is also trading above the $2,300 price range. As Bitcoin price continues to trade above $80,000, is it the right time to buy into crypto?

Bitcoin Price Continues to Trade Above $80,000 

This week, the price of BTC has been holding steadily above the $80,000 price range, leading analysts to debate what move could play out next. To highlight, bearish analysts like Doctor Profit believe the price of BTC will go as high as $85,000 before crashing down to lower prices until the asset goes on to set a new bottom at the $40,000 price range. Another expert says $90,000 is a possibility, which could lead to a different narrative. 

As we can see from the post above, this expert states that since Bitcoin just closed above $80,000, why aren’t bullish analysts loading up on the asset? To answer that, he says that there are currently two CME gaps still open on the BTC price chart. The first is right above the $83,000 price range, while the other sits just below the $67,000 price range. The expert says CME gaps must always be filled.

Thus, he comes to the conclusion that the current setup is a huge bull trap, meaning those who buy now could possibly be liquidated. What’s more, the price of BTC could fall back to the $60,000 price range to close the latter CME gap. Could this be the trigger that could lead to the final fall for the pioneer crypto asset to set a bottom in the $40,000 price range in the coming months ahead?

Is It the Right Time to Buy Into Crypto?

That outlook works well with those waiting for another final fall before a bull market continuation can take place. This means the price of BTC could very well surge to hit higher highs after the fall. Another bullish analyst goes on to draw attention to the BTC/GOLD price chart, highlighting possible bullish action for the price of BTC in the coming weeks ahead. 

As we can see from the post above, this expert sheds light on how BTC pumped 46% against gold since the US-Iran war started on Feb 28. Twice before, when BTC printed multiple consecutive green months against gold, a major rally followed: +580% in 2021 and +163% into December 2024. If BTC breaks out above $81,000, then BTC/GOLD pair looks as bullish as in 2021 and 2024. If BTC gets rejected from $81,000, it will likely form a double bottom on the chart before the next mega rally.