Bitcoin Isn’t Out of Danger Yet: BTC Must Clear These Crucial Levels

The primary cryptocurrency once again jumped above $80,000 earlier today, reinforcing the view that the resurgence could be the start of a full-blown bull market.

However, some industry participants warned that unless BTC clears crucial resistance zones, it remains at risk of sliding back all the way down to $50,000.

The Necessary Conditions

Bitcoin has been on an evident uptrend over the past several days, with its price climbing by 15% on a weekly scale. At one point, it surpassed $81,000, with the catalysts behind that rally detailed in our article here. As of press time, the asset trades at around $79,600 (per CoinGecko), while its market capitalization has soared past $1.6 trillion.

Despite the positive performance and prevailing optimism, the analyst known as Gerla on X issued a note of caution. He believes BTC’s price must make a clean break above $82,000 to change the bearish structure.

“Until then, I wouldn’t rule out a deeper move below the $58K-$60K zone before the real breakout,” the analyst added.

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