Where are the critical resistance and support levels in front of the Bitcoin price? Analysis Company Identified

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Crypto currency analysis firm MakroVision, evaluating the price movement after the recent recovery of Bitcoin, has identified important resistance and support levels that can determine the next trend.

After a significant sell-off, Bitcoin made a strong recovery and is currently trading around $99,000. However, key resistance levels that could impact further price movement remain in focus.

MakroVision indicates that the $102,000 level represents a short-term barrier and is just above an important liquidity area that needs to be overcome for further upward movement. The company also states that breaking the descending red trend line will activate the $106,500 level as a decisive breakout target, aligned with the previous interim high level.

On the support side, MakroVision emphasizes that falling below $98,600 will shift attention to the $95,900 level. In addition, the $91,700 level provided strong support during the last sell-off, and retesting this level once again may indicate increased selling pressure.

MakroVision observes that the current V-shaped recovery indicates upward momentum, but it remains below the red trendline. The company notes that a breakout is necessary to target the next turning point at $106,500. However, if Bitcoin falls below $98,600, the focus will shift to the support level of $95,900.

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ForwardCvip
· 02-04 22:24
Hold on to it firmly💎
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