What Levels Should Be Followed in Bitcoin from Now On? Analysis Company Announced, "The Continuation of the Bull in Bitcoin is Tied Up to This Level!" Said!

While Bitcoin (BTC)*** saw a big breakout last week, rising to as high as $109,000, tensions between Israel and Iran cast a shadow over it.

As selling pressure increases on Bitcoin, sellers are trying to take control.

At this point, Bitfinex analysts stated in a recent report that the selling pressure due to the tensions between Israel and Iran has increased and that Bitcoin is at greater risk of falling further.

Analysts also added that despite the risk of a decline, Bitcoin needs to hold above 102,000 dollars for a potential recovery.

At this point, analysts stated that the current state of Bitcoin resembles previous models that typically resulted in a rise in Bitcoin shortly after aggressive sell-offs.

"These sales resemble past deliveries and generally indicate local bottoms.

If Bitcoin can hold the $102,000-$104,000 range, it means that this selling pressure has been absorbed and the market is ready to recover.

Analysts also added that technical indicators show a short-term bottom between 102,000 and 104,000 dollars.

This could potentially trigger a recovery above 112,000 dollars within six to eight weeks, meaning new all-time highs. According to analysts, similar patterns eventually led to rallies of 18-25% in Bitcoin.

This Level in Bitcoin Indicates a Bullish Bear Line!

Apart from Bitfinex analysts, the analysis company Alphractal also pointed to Bitcoin reaching 98 thousand dollars.

Alphractal stated that the bullish trend will continue as long as Bitcoin remains above the key support at $98,300. However, crossing this threshold could tilt BTC towards a deeper correction.

"As long as Bitcoin remains above the (STH) Realized Price, we can still consider the market to be bullish for short-term investors.

The bullish scenario will only change if BTC loses the $98,000 level, which could trigger a deeper decline."

*It is not investment advice.

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