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BitcoinSistemi 2025-03-18 22:26:08

What is the Critical Level Bitcoin Needs to Exceed to Recover? Here’s What Experts Say

What is the Critical Level Bitcoin Needs to Exceed to Recover? Here’s What Experts Say

Cryptocurrency analytics firm MakroVision has provided an update on Bitcoin’s recent price action, outlining ongoing weakness in the market and key levels to watch. Despite holding above a key Fibonacci level, Bitcoin has yet to stage a strong recovery. Following a significant sell-off, Bitcoin continues to trade sideways, testing key support and resistance zones, according to the analyst firm. The lack of strong buying pressure raises concerns about whether a meaningful recovery is imminent or whether the bearish momentum will continue. Although Bitcoin remains above the 0.5 Fibonacci level at $79,263, buyers have yet to make a strong move. The fact that the price remains below the descending trend line and key resistance levels suggests that a confirmed trend reversal is yet to occur. MakroVision shared the key levels ahead of Bitcoin: $87,500-$89,900: This area represents the first major hurdle. A move above this range could trigger short-term bullish sentiment. $91,700: A strong resistance level associated with the liquidity zone. A decisive break above this mark would be an early indicator of a potential trend reversal. Related News: Nasdaq Makes Formal Request to SEC for Approval of Surprise Altcoin Spot ETF On the downside, Bitcoin needs to hold above these critical support levels to avoid further declines: $79,263 (0.5 Fibonacci Level): This level has been defended so far, but another test could pose a risk of further breakdowns. $75,000: A deeper liquidity zone that could act as support in case selling pressure increases. *This is not investment advice. Continue Reading: What is the Critical Level Bitcoin Needs to Exceed to Recover? Here’s What Experts Say

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24h Vol
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