Bitcoin's price is likely to reach $66,000 within a week or two, supported by on-chain data indicating bullish signs.
Currently trading at $63,903, the recent pullback is unlikely to halt the potential move.
Fresh liquidity flows into Bitcoin, as shown by a 14-day Market-Realized Gradient of 1.17, suggesting notable growth potential.
Historical data indicates Bitcoin could hit $66,000 if the market follows a similar pattern.
The Network Value to Transaction (NVT) Golden Cross at 0.71 indicates Bitcoin is in a prime buying zone, further supporting potential price increases.
Crypto traders, like Hardy on X, predict Bitcoin exiting its consolidation phase, with potential targets reaching $70,000.
Technical analysis reveals an inverse Head and Shoulders pattern, signaling a bullish reversal, with a breakout above the $61,024 resistance level.
If Bitcoin surpasses $64,562, it could reach $66,849. However, a rejection around $64,000 risks a drop below $60,000.
