Bitcoin (CRYPTO: BTC) is trading within a range that mirrors past market structures, though the outcome may not follow the same path, according to trader Trader Mayne.

Temporary Bullish, Overall Bearish Bias

In a March 31 podcast, Mayne said Bitcoin could see a short-term relief rally toward $80,000. Still, it maintains an overall bearish bias unless key resistance levels are reclaimed

He emphasized that market sentiment tends to flip incorrectly, bullish at highs and bearish at lows, creating opportunities for traps on both sides.

Despite some signals that could support a temporary bullish move, like being in the lower part of the range and liquidity sweeps, there are also conflicting indicators, leaving no clear high-confidence trade.

Given mixed signals and a lack of high-confidence setups, Mayne said he is largely staying in cash and focusing on capital preservation. His broader outlook is that Bitcoin has not yet bottomed and is likely to see lower prices later in the year, possibly around Q4.

Best Buy Zone Below $54,000

In an X post on March 31, CryptoQuant data explains Bitcoin's Realized Price of around $54,000 has historically acted as a key "value zone." Historically, these periods have often been the best long-term buying opportunities for investors.

In a situation where the price falls to $54,000 or below, then those periods are the best places to buy on spot and accumulate Bitcoin step by step. At this level, "Bitcoin is cheap compared to market average," added CryptoQuant.

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