What is Bitcoin price going to do next? — Bear trap, bottom, or oversold bounce?

Crypto traders expect Bitcoin price to remain choppy in the short term as a new range must be established after this week’s double-digit drawdown.

The Bitcoin bounce to $85,000 on Feb. 28 had traders hopeful that a bottom was in could be in peril after BTC (BTC) struggled to secure a higher high candlestick for the daily close. 

Data from TRDR.io shows Bitcoin received a strong spot bid at Coinbase as the price fell to a 2025 low at $78,300, but what is yet to be seen is whether or not bulls will be able to provide enough purchasing volume to sustain their current momentum. 

BTC/USDT 1-day chart. Source. TRDR.io

Read more