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Bitcoin’s consolidation is ‘normal’ — Analysts set $80K BTC price target By Cointelegraph

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© Reuters.

(BTC) bulls are still hoping for a major breakout but at the moment, bears are applying pressure and keeping the digital asset pinned below $61,000.

Data from Cointelegraph Markets Pro and TradingView shows that an early morning breakout by bulls to make a run above $62,000 was met with a strong defensive line from the bears who handily rejected the attempt.

BTC/USDT 4-hour chart. Source: TradingView
1-week chart. Source: Twitter (NYSE:)
BTC/USDT 1-day chart. Source: Twitter
BTC/USDT 4-hour chart. Source: Twitter